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In 1988, Mahesh Shetty, a young teacher, started Mahesh Tutorials with a mission of revolutionizing education and transforming lives. Prior to that, he was planning to pursue a career in the Army, but a chance meeting with a friend led him into the world of teaching. Due to his friend’s prodding, Mr. Shetty took up a job with a coaching academy, immediately after graduation, not realizing where this journey would lead him.
Once he started teaching, the entrepreneurial spirit in him was awakened and he started the first coaching centre of Mahesh Tutorials at Mulund, Mumbai. He started teaching Mathematics for Class IX and X students of Maharashtra State Board.
As the journey began and gained momentum, Mr. Mahesh Shetty entered into a partnership model, bringing in like-minded teaching professionals. By the late 90s, Mahesh Tutorials became a household name in the School coaching space.
In 2001, Mahesh Tutorials introduced coaching for the Science stream and medical & engineering entrance exams for XI and XII standard students.
In 2003, Commerce Streams for XI and XII standards along with B.Com were introduced.
In 2006, Mahesh Tutorials started Chartered Accountancy (CA) Coaching.
By now, it had grown to 26 branches across Mumbai, with a revenue of Rs. 40 crore.
NO. OF CENTERS: 26 | REVENUE: Rs. 40 crore | INTRODUCED Science & Commerce coaching
This phase marked the traditional brick-and-mortar expansion of MT Educare, which is the holding company of Mahesh Tutorials. The company got its first funding in 2007 from US based private equity investor, Helix Investments.
In 2009, MT Educare made its foray into Karnataka by entering into its first Pre-university College tie up in Mangalore.
MT Educare took its first steps towards adopting technology in the classroom by setting up Audio-Visual aided teaching. It introduced Technology-Aided-Teaching (T-A-T) and evaluation in the classrooms to promote engaged learning.
The company expanded to 150+ branches, with 50,000+ students enrolling every year. The expansion was a well thought-through and planned process, which created a platform for scalable growth.
The company had a turnover of Rs. 83 crores in 2010. Mr. Shetty started planning to list the company on Stock Exchanges.
NO. OF CENTERS : 150+ | REVENUE : Rs. 83 crore | NO OF STUDENTS : 50,000+ | Helix Investments funding to MT Educare-US $8 mn.
In 2011, the company made its first foray into the Test Prep segment by acquiring a premier MBA Entrance coaching institute, CPLC (Chitale's Personalised Learning Private Ltd).
The company now grew into a pro-active education giant, with a wide reach across India and internationally. Mahesh Tutorials had now become a household name in the city of Mumbai and enjoyed excellent brand equity. It started operations in several locations across India in Maharashtra, Gujarat, Tamil Nadu, Karnataka and internationally in Dubai.
Now the business operations were supported by various support functions at its Corporate Office in Mumbai.
In 2012, MT Educare was successfully listed on BSE & NSE. In the same year, the company acquired 51% stake in Lakshya Forum for Competions Private Limited, a firm with expertise in IIT coaching and expanded to Punjab, Haryana & Chandigarh.
NO. OF CENTERS: 207 | REVENUE: Rs. 130 crore | NO OF STUDENTS: 70,000+
The Company has 18 college tie-ups in various districts of Karnataka and is planning to add more college tie-ups in all the remaining districts of Karnataka.
In an effort to digitize content, professional recording studios have been established to record lectures of expert faculty across all streams (Std. 5th to 12th, IIT, AIPMT, CAT, CA etc.). The company has forayed into a highly evolved e-learning solution branded as ROBOMATE.
In its 25th year of existence, MT Educare was awarded as one of the 'Top 200 Forbes Asia Best under a Billion' Company. Forbes Asia's "Best under a Billion" list highlights 200 of the best small and mid-sized listed companies in Asia Pacific with an annual revenue under $1 billion.
Using the new Learning Management System (LMS), the company is now introducing its Flipped Classroom model in 2015.
Today, MT Educare is a national player with a multi-state presence and a diverse product portfolio, standing a class apart thanks to its technology-enabled business processes, digital content delivery and 24 x 7 online support for the courses offered.
NO. OF CENTERS: 210 | REVENUE: Rs. 227 crore | NO OF STUDENTS: 82,000+
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