Big Bang entry in Indian education scene – HDFC School
In a move to broad base its
catchment area, HDFC Group has finalized the location for its first school.
Sector 57-Gurgaon will have the privilege
of having the country’s first HDFC school, which will be run by the housing
finance major's wholly-owned subsidiary HDFC Education and Development
Services.
Though the school will start functioning
only from next academic year (2015-16), it will accept admissions for nursery
to standard III from this month. The HDFC School will have classes up to
standard 12.
The fees structure is not yet made public
but there are indications the school will positioned as ‘international school,’
with monthly fees upto Rs10,000/-.
HDFC Education and Development Services was
formed last November.
The background preparations were going for
the last two years, and HDFC was in
talks with real estate developers, who already work with the bank for its
housing loan arm to provide HDFC with infrastructure available to set up
schools.
The company is open to take over defunct
schools and run them. HDFC already has an educational loan unit — Credila
Financial Services — in which it raised its stake to 51 per cent in July.
Credila plans to leverage the distribution network and customer base of HDFC
Bank to expand and also bring down the cost of funds.
Apart from schools, HDFC also plans to have
two skill upgradation centres in Hyderabad and Ahmedabad to train people for
the financial services, back office and hospitality businesses. These centres
will operate from rented premises and hence the uptime will be less as compared
to full-fledged schools.
The push into education is being
spearheaded by HDFC's Delhi-based managing director Renu Karnad. Besides setting up its own schools, HDFC will
also be providing school management and other allied services.
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