November 2026
Largest Education & Training Public Companies in India
Benchmark revenue and EBITDA valuation multiples for public comps like
GMR Power and Urban Infra, Elevate Campuses, Shanti Educational, Navneet Education and NIIT Learning Systems.
 | GMR Power and Urban Infra Limited (GPUIL) is a listed Indian infrastructure company and part of the GMR Group, with businesses in energy, transportation and urban infrastructure. It was incorporated on 17 May 2019 as a wholly owned subsidiary of GMR Infrastructure and became a separately listed company on the BSE and NSE when GMR Infrastructure completed the spin-off of its non-airport businesses on 12 January 2022. Its energy portfolio, anchored by GMR Energy, includes coal-fired plants such as GMR Warora Energy and GMR Kamalanga Energy that sell electricity to state utilities, together with wind, solar and hydro assets including the Upper Karnali project in Nepal. In transportation, GMR Highways operates three national highway concessions in Andhra Pradesh, Tamil Nadu and Haryana–Punjab covering about 888 lane kilometres, earning long-term concession income. Its urban infrastructure arm is developing the Krishnagiri Special Investment Region in Tamil Nadu, and GMR Aviation runs private jet charters. Under its Energy 2.0 strategy the company has moved into large-scale prepaid smart meter installation, with projects live across Uttar Pradesh, and in recent years it has cut debt through asset monetisation and the resolution of legacy disputes. | $1 | -27% | $766M | $1.6B | 2.1x | 5.6x | ||
| Elevate Campuses Ltd operates an institutionalised and independent education platform. It is principally engaged in owning, operating, and managing on-campus student accommodation services across higher education institutions. The company operates a student accommodation business under the Good Host Spaces and ScholarZ brands. The majority of its revenue is derived from student accommodation services. | $3 | -- | $500M | $978M | 11.4x | 13.2x | ||
| Shanti Educational Initiatives runs and manages private schools and educational programmes, mainly in Gujarat. It earns fees and management income from schools. It is headquartered in Ahmedabad. | $2 | -5% | $308M | $308M | 52.2x | 431.7x | ||
| Navneet Education Ltd is an Indian company engaged in the publishing of educational and children’s books, scholastic stationery, and non-paper stationery products. It offers syllabus-based content in print and digital mediums aligned with various Indian educational boards including CBSE and ICSE. The business segments includes Publication, Stationary and Others. The company markets its products under several brands such as Navneet, Vikas, Gala, YOUVA, and TOPClass, and has a dominant presence in Western India with expanding reach across the country and internationally. Navneet also provides digital learning solutions and has diversified into non-paper stationery and general books. Its revenue is generated from publishing, stationery product sales, and digital education services. | $1 | -16% | $305M | $314M | 1.7x | 5.3x | ||
| NIIT Learning Systems Ltd is engaged in providing managed training solutions which predominantly include technology-based solutions for learning and education management to improve efficiency and effectiveness to customers in the education sector in India and international markets. The company also offers a comprehensive suite of solutions including content, learning delivery, assessment, and technology for students and teachers, as well as solutions for institution administration and management. Geographically, the company derives a majority of its revenue from America, and the rest from Europe, India, and the rest of the world. | $2 | -60% | $248M | $136M | 0.7x | 3.1x | ||
| Fusion Klassroom Edutech Ltd is an education and technology company operating in a hybrid model of offline and online learning, delivering academic and skill development content through its AI-powered OTT platform and partner institutions. Its platform provides educational content and courses across academic subjects, competitive exam preparation, skill development, entrepreneurship, career guidance, creative arts and hobbies, and language learning. The company also offers courses covering areas such as coding, sales, marketing, carpentry, music, dance, yoga, and communication skills through its digital platform and partner network. | $2 | -- | $16M | $16M | 6.6x | 11.9x | ||
| Median | $2 | -21% | $306M | $311M | 4.4x | 8.7x |
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