In an interview with CNBC-TV18, P Kishore, MD of Everonn Systems, spoke about the latest happenings in his company and sector.

Below is a verbatim transcript of the exclusive interview with P Kishore on CNBC-TV18. Also watch the accompanying video.

Q: Let me start with ITC, your government schools business, which is not growing at the kind of clip your investors would like to see. Can you tell us through why growth is sluggish there?

A: The last quarter we have done extremely well. We have added 1,266 schools in the last quarter alone which is almost 25% of our last many years performance. So, we are now in about 5,708 schools across India. It has grown quite well last quarter.

Q: We are just not seeing revenues grow that much or even profitability from that segment flowing in. When will that happen?

A: That will happen in the following quarters because we have just signed up those contract and the contract is under execution mode. In the next couple of quarters, we will see revenues coming in there.

Q: Can you take us through the Vitel segment and how fast things have been moving there?

A: We have shown some great traction in Vitel. Currently, we have 734 schools across India, just last quarter we added 114 schools. But the great point has come in from our colleges. We have 1,165 colleges across India, added 225 colleges just the last quarter. Please note that was almost the biggest ever which we have done in the last quarter.