KKR-backed Lighthouse Learning Group has acquired the Pathways School campus in Gurugram for approximately ₹1,500 crore. The deal is valued at 13 times the school's annual operating profit. This acquisition highlights the increasing consolidation of premium K-12 education assets in India by large institutional players.
Lighthouse Learning Group, which is supported by the global investment firm KKR & Co., has finalized an agreement to purchase the Pathways School campus located in Gurugram. The transaction is valued at about ₹1,500 crore. This move marks a significant step in the consolidation of India's private K-12 education space, where large groups are increasingly acquiring established, premium institutions.
The acquired campus sits on a 10-acre site with a built-up area of 4.5 lakh square feet. It currently supports approximately 1,600 students, with average annual fees reported near ₹10 lakh per student. Financial details indicate an estimated annual operating profit, or EBITDA, of ₹110 crore. The purchase price represents a valuation of roughly 13 times this operating profit, which market observers view as a notable benchmark for high-end education infrastructure in the country.
A key factor enabling this transaction is the corporate structure of the school. Unlike many educational institutions in India that operate as trusts or societies, Pathways was set up as a company under Sarla Holdings. This structure allows for clearer ownership and commercial flexibility, making it easier for institutional investors to acquire the assets. This deal specifically involves assets held by one of the promoter brothers associated with the brand.
Lighthouse Learning has been rapidly expanding its footprint in the premium education segment. Previously known as EuroKids International, the group has actively sought to build a comprehensive portfolio of schools. In 2023, the group acquired the Heritage Xperiential Schools, also located in Gurugram, and has since continued its growth strategy by partnering with other early-years institutions.
For investors monitoring the education sector, this acquisition points to a trend where institutional capital is betting on the long-term demand for high-quality, fee-based schooling in urban centers. The success of such acquisitions often depends on the buyer's ability to maintain the academic standards and premium pricing power of the acquired assets while managing the increased debt or capital pressure associated with large-scale acquisitions. The integration of this campus into the broader Lighthouse Learning network and the potential for operational efficiencies will be the key areas for observers to track moving forward.