The company intends to acquire an additional 10.59% stake in BB Virtuals by June 2025.
With these acquisitions, Veranda expects to achieve a pro forma EBITDA exceeding Rs 120 crores for FY25.
BB Virtuals, founded by the renowned chartered accountant (CA) educator Bhanwar Borana, has established itself as a top-notch online platform for CA and commerce aspirants. It has trained over 200,000 students online, producing more than 500 all-India rank-holders.
Navkar Digital, founded by Mr. Hiteshkumar Shah, is a well-established offline education platform for chartered accountancy (CA), company secretary (CS), and cost & management accountancy (CMA) aspirants in Gujarat.
Prof. J.K. Shah, founder of JK Shah Classes, said: "By bringing in BB Virtuals and Navkar Digital into the Veranda ecosystem integrating these companies with JK Shah Classes, we are building a powerful alliance that provides students pursuing commerce education with unparalleled academic support."
Veranda Learning Solutions, part of the Kalpathi AGS Group, is a public listed education technology company that offers a bouquet of training programs for competitive exam preparation, including state public service commission, banking, insurance, railways, IAS, and CA, as well as a slew of professional skilling and upskilling programmes.
The company had reported a net loss of Rs 193.83 crore in the quarter ended December 2024 as against net loss of Rs 17.26 crore during the previous quarter ended December 2023. Sales rose 7.96% to Rs 99.15 crore in Q3 FY25 as compared with Q3 FY24.
The scrip fell 1.45% to currently trade at Rs 237.15 on the BSE.
