Career Point open to strategic investors from East: CMD

There is a sudden spurt of interest observed in the education sector. Pramod Maheshwari, CMD and CEO of Career Point Infosystems joins CNBC-TV18 to opine on the business environment and the way forward for the company. He says that though they are not looking to raise funds right now, the company is open to strategic investments that will take the company to the next level.

He however restricts options to investors from the Middle and Far East. "We have no interest in investors from western countries," he says. Below is the edited transcript. Also watch the accompanying video Q: We have seen a lot of investments in the education space and that you too would be open and flexible to strategic investors. Just take us through any sort of interest the company has seen?
A: Our company is into education, and education currently is being an interesting sector for everyone, so we keep getting interest from various strategic investors to participate in our business. But currently, our company is not looking forward to raise funds, though we are flexible and open to explore possibilities if someone comes and invests strategically to take the company to the next level. Q: Just describe what next level will be for career point?
A: We are currently operating in two businesses, one is tutorial which contributes 97% of our revenue, and we are aggressively expanding into the formal education, where we are setting up private universities, technical campuses which comprises of engineering college, MBA college and MCA college. We are looking to cater to experiences and look forward to partner with people where we can realize the bigger dream of being a big player in formal education, we are flexible in that front. Q: Could you tell us what the enrollments will look like in FY12 because in Q1, there was a 10.8% decline in your enrollments. What can we expect going forward?
A: If you compare our enrollment numbers as on date with last year