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Aptech to set up Rs 25 crore varsity

Aptech Limited proposes to start its own University and colleges in the country, its Managing Director and Chief Executive Officer Pramod Khera has said.

The Aptech University is proposed to be set up at Rapur in Chattisgarh, and will have affiliations with other colleges. The University to be based on UGC norms will initially have 200 students in the first batch from June 2004, Khera said.

The University would come up with an investment of Rs 25 crore, essentially for construction. The investment would made in phases in a five-year process.

The company had raised 14 million dollars through a GDR issue, and therefore the investment would be made from its own internal funds, Khera added.

Aptech, which had already launched the Atrium College in Chennai, would set up more of its colleges in the country.

Aptech posts strong results for 2003. Its profit is up by 78% and the Board, which met in Chennai on March 31, 2004, has recommended a maiden dividend of 10%.

Aptech Limited's audited financial results for the year ended December 2003, announced at the Board Meeting in Chennai on March 31, 2004, show a significant growth in revenues and profitability. The robust performance of the company is a result of a growth in revenues due to the revival of the IT industry thereby improving the number of registrations at its centres.

The acquisition of SSI business during the year has resulted in synthesizing the common services giving a distinct cost advantage to the company and has helped to improve the margins. The audited financial results were taken on record at the Board Meeting.

Commenting on the overall performance of the Company, Pramod Khera, CEO & Managing Director, Aptech Ltd. said, "The mood is one of quiet determination. Having carved a space for ourselves in the non-formal sector, we have operationalised elaborate plans to enter the formal mainstream academia.

The smooth integration of SSI’s Education business, apart from affording cost-efficiencies and market penetration, means that Aptech Ltd today wields three popular brands in the IT Training segment: Aptech Computer Education, Arena Multimedia and SSI Education.

To cap this are our forays in Learning Services and non-IT Training, which add new dimensions to a growing Learning Corporation. Our focus will continue to be on the customer and on a value-delivery model.” “The board has also recommended a dividend of 10%, subject to approval by the shareholders. This will be the company's maiden dividend after its de-merger from the erstwhile company in the year 2000.”

“With the overall oulook for the economy being positive, we expect many of our new initiatives like the Aptech University, Aptech Colleges and Attest to start contributing to the revenues significantly during 2004,” said Pramod Khera.

“Combined with good growth from our international and institutional operations, we should be able to maintain and even surpass our performance in the coming year,” he added.

RR

Published on 3^rd April, 2004

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