PhysicsWallah expects 10-fold revenue growth to Rs 2,500 cr in 2023-24

New Delhi: Edtech unicorn PhysicsWallah said its revenue is expected to grow over 10-fold to Rs 2,500 crore in 2023-24 driven by expansion of business ranging from self-learning courses for class four to civil services preparatory exams in online and offline modes.

Speaking to PTI, PhysicsWallah (PW) Chief Growth Officer Vivek Gaur said that the company expects to close the current fiscal year with four times growth in revenue over Rs 1,000 crore.

"In 2023-24, we expect to grow 2.5 times to Rs 2,500 crore," he said.

WestBridge Capital and GSV Ventures backed unicoron is now developing course content to reach out to students in primary class and on the other hand it looks at expanding students base in higher competitive exams.

"Though we are opening physical centres, our prime focus will remain on supporting students learn through online technology. At physical centres we will be assisting them to resolve issue that they may face in online classes. Now we are thinking in direction to reach out to younger students studying in class 4 or so. Basically, we will target students who are capable of self learning," Gaur said.

Gaur said that PW plans to double physical learning centres to 80 this year in 42 cities from 40 centres in 32 cities at present.

Initially, physical centres will be for medical and engineering aspirants.

"We are looking at 3-fold growth in current students base that have enrolled for our offline centres," Gaur said.

PW Chief Business Officer Ankit Gupta said that the company recently started offering content for UPSC online and it has become the largest segment for the edtech firm with over 40,000 students.

"We are providing content for UPSC for around Rs 10,000. PW has roped in best known faculties of the country for UPSC. We will open offline centres for them as well but only we start catering to a minimum number of students that we have set internally. Even after opening physical centres, our prime focus will be on leveraging technology," Gupta said.

He said that in last five months the company has started offering courses for over 50 exams in 20 categories including GATE, banking and SSC.

"We take feedback from our students and based on that we are providing them support for various test preparation," Gupta said.