Elevate Campuses IPO

Elevate Campuses Limited is an education infrastructure and services platform focused on student accommodation and K-12 school infrastructure. The company owns, operates and manages education-focused assets, allowing educational institutions to concentrate on academics while Elevate manages accommodation, infrastructure and essential non-academic services.

The company’s student accommodation business provides on-campus residences along with services such as dining, healthcare, recreation, safety and student support. In the K-12 segment, it develops and operates future-ready school infrastructure and undertakes asset upgrades and campus development.

Since starting as an independent student accommodation operator in 2017, Elevate has expanded across the student lifecycle, from K-12 education to higher education. Its portfolio includes partnerships with 15 higher education institutions and 15 K-12 schools, with a stated capacity of 94,000+ students across 21 cities in India and Dubai.

Its student accommodation portfolio includes campuses associated with institutions such as OP Jindal Global University, Manipal University Jaipur, Manipal Academy of Higher Education, Shoolini University and Vivekananda Global University. Its K-12 portfolio includes schools such as Hartland International School and North London Collegiate School in Dubai.

Elevate also focuses on sustainable and technology-enabled campuses, incorporating features such as solar power, energy-efficient systems, inclusive design and 24/7 security. The company positions itself as an institutionalised, independent education platform combining operating capabilities with long-term asset management.

Leading Institutionalized Education Platform: Elevate is positioned as one of the largest institutionalized and independent education platforms in India, with the trust of leading education groups. Its established relationships provide a strong foundation for expanding its education infrastructure and accommodation portfolio.

Strong Operational & Asset Management Capabilities: The company has developed operational capabilities and asset management expertise across its education-focused portfolio. This supports efficient management of student accommodation assets and relationships with educational institutions.

Focus on Student Experience & Well-Being: Elevate places strong emphasis on delivering a superior student experience and promoting student well-being. Its focus on accommodation and related student services supports a comprehensive campus experience.

Dependence on Student Occupancy: The group derived 100% of its revenue from operations from the student accommodation business during the last three Financial Years. Any inability to maintain healthy occupancy rates could adversely affect its business, financial condition, results of operations and cash flows.

High Dependence on Key HEIs: The group derived 89.00%, 88.60% and 87.50% of its operating revenue from its three largest higher education institutions (HEIs) in FY2025, FY2024 and FY2023, respectively. Any adverse development affecting these institutions could materially impact the group's financial performance.

Regional Concentration: The group derived 100% of its operating revenue during the last three Financial Years from HEIs and other student accommodation assets located in the northern and southern regions of India. Any adverse regional developments could negatively affect its business, financial condition, results of operations and cash flows.