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MT Educare sells its Mangalore Pre-University Campus for Rs 55 crore

23 Mar 2015 Evaluate

MT Educare (MTEL), a leading education support and coaching services provider in India, has concluded the sale and lease back of its Mangalore pre-university (PU) campus. The sale deed has been entered into, for a sale consideration of Rs 55 crore, which shall be paid on or before March 31, 2015. The sale and lease back deal entails continuation of MTEL’s operating and management rights in the premises for a period of 30 years with an initial 15 years lock-in-period.

The setting up of Mangalore PU campus has been instrumental in MTEL’s expansion in the state of Karnataka especially in its new PU college tie ups. On this proof of concept set up in Mangalore, MTEL has successfully tied up with 20 colleges till date, of which 14 colleges were operational in financial year 14-15. The ‘Mahesh PU’ brand is very strong in Karnataka and this is helping in securing more tie ups each year.

MT Educare provides educational coaching services for classes 9 and 10 (state boards, CBSE and ICSE), classes 11 and 12, graduation (commerce), preparatory/entrance tests (engineering, medical and MBA) and professional courses such as chartered accountancy under the brand name ‘Mahesh Tutorials’.


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