Transforming an institution into a corporate entity

It was the ���passion for teaching��� that laid the foundation stone of Mahesh Tutorials. Mahesh Shetty, CMD, MT Educare Pvt Ltd., has come a long way following his dreams. Having worked for Shetty���s Academy, Mr Shetty launched his first coaching class for standard 10th in November 1988. Mahesh Tutorials has grown from one centre to
151 centres by May 2008.

Taking a journey down memory lane, Mr Shetty says, ���The objective behind starting Mahesh Tutorials was to contribute towards a competitive educational environment and creating success stories for our future generations. Over a period of 20 years, Mahesh Tutorials has shaped the career of over one and a half lakh of students who are making their mark globally today.���

The journey has not been easy as there were many obstacles to overcome and challenges to meet. But the capital on which the enterprise was built was the goodwill earned from the four years��� tenure of providing quality tuitions and additional support to the students of Shetty���s academy.

He elucidates, ���In today���s world of nuclear families, with both the parents engaged in providing for their children���s future, Mahesh Tutorials has taken up the vital role of being an academic parent.��� The model which Mahesh Tutorials has worked on was based on the concept of empowerment through an enterprise.

Today Mahesh Tutorials has a list of alumni that includes over 1,25,000 students. MT Educare has positioned itself as a total education and training solutions provider in this competitive and challenging space.

Elaborating on why he wants his institution to have a corporate entity, Mr Shetty explains, ���Mahesh Tutorials today is a systems and process driven organisation with a professionally competent team of top management, working with MIS, monitoring, reviewing, evaluating quarterly KRAs, 360 degree appraisal and developing the second line at each level resulting in developing a corporate ethos.��� He adds, ���A corporate body was also created to offer ESOPs, to infuse the spirit of entrepreneurship and build a sense of belonging among the teachers in the company to run their branches as profit centres.���

Not stopping at that, Mahesh Tutorials has opted to become the first entity to go in for a private equity placement, followed by a public issue. Mr Shetty explains, ���Mahesh Tutorials has worked tirelessly on laying the foundation for a scalable, sustainable model and needed the funds for expansion, new product line, acquisition of talent, content creation and technology support. Private equity by the US-based private investment company Helix Investments has infused an exponential growth opportunity.��� As far as future plans are concerned, he adds, ���Mahesh Tutorials will be considering an IPO at an appropriate time and will also evaluate other options of fund raising.���

Ruling out all possible obstacles to Mahesh Tutorials��� further growth, like a true optimist
Mr Shetty concludes, ���Our brand name has steered clear of all competition as it is the only corporate player with its size, reach, product portfolio, quality delivery and growth opportunities.���