Mahesh Shetty, chairman and chief executive MT Educare Pvt. Ltd, Mumbai. The holding company of Mahesh Tutorials, which is a household name in supplementary and exam preparation education in Maharashtra, and increasingly across India, MT Educare was started by Shetty, a science and education graduate of MumbaiUniversity as a lone tutorial centre with 400 students in 1988. Since then, Mahesh Tutorials has grown and expanded into one of India's heavyweight division supplementary education companies. The USP (unique sales proposition) of Mahesh Tutorials is that it provides tuition and tutorial services across the entire education spectrum — from pre-school to postgraduation.
In pre-school education MT Educare runs a ten-strong chain of play schools and ten childcare centres under the name and style of Little Tigers. In primary-secondary education, it offers private tuition to 30,000 children enrolled in CISCE, CBSE and state board affiliated schools.
In higher education Mahesh Tutorials' 151 centres across the country provide tuition to Plus Two students in the commerce, engineering and science streams and prepare them for collegiate and university exams including the Maharashtra and Gujarat government's Common Entrance Test (CET) as also for the more rigorous All India Engineering Entrance Examinations (AIEEE) and the entrance exam of the IITs (IIT-JEE). Moreover latterly, MT Educare — which has planted its corporate flag in Mumbai, Pune, Nashik, Nagpur, Aurangabad, Mangalore, Udupi, Mysore, Bangalore, Chennai and Hyderabad — has diversified into provision of English language, retail training and related learning programmes to the corporate sector.
Little wonder that recently MT Educare became India's first supplementary education enterprise to receive venture capital funding, from the Mauritius-based Helix Investments, which purchased a 30 percent equity stake for $8 million (Rs.40 crore) giving the Mumbai-based company a market valuation of $26.6 million (Rs.133 crore)?