Business Daily from THE HINDU group of publications
Saturday, Oct 21, 2006
Industry & Economy
States - Tamil Nadu
House of Pearl setting up business school in Delhi
House of Pearl promoter has set up Little People Education Society.
The society funds several education activities
It plans to invest over Rs 90 crore to establish various campuses
Chennai , Oct. 20
The House of Pearl is setting up a business school in Delhi and has entered into an academic collaboration with Babson College of the US for this purpose.
Mr Deepak Seth, Group Chairman, said that the Pearl Business School would be located on 50,000 sq ft at the City Centre.
The school would later move to its own campus in the National Capital Region.
Babson College was chosen because of its top ranking as a school for entrepreneurship education.
Though the House of Pearl has no direct participation in educational activities, its promoter has set up the Little People Education Society (LPES), which funds several education activities.
LPES has formed a corpus from the donations from the promoter's family.
Subsequently, the funding has been from internal accruals from the educational activities.
LPES plans to invest over Rs 90 crore to set up various campuses of Pearl Academy of Fashion and Pearl Business School.
This includes setting up campuses in Jaipur and Chennai for Pearl Academy of Fashion to the tune of Rs 25 crore and Rs 15 crore respectively.
The investment in the Gurgaon Centre of Pearl School of Business would be about Rs 8 crore.
LPES also plans to set up a joint campus for fashion and business schools in Greater Noida at a cost of Rs 40 crore.
Pearl Academy of Fashion plans to open another centre in Mumbai and a franchisee centre is in operation at Ludhiana.
Similar centres are functional in Dhaka in Bangladesh and Sharjah.
The Pearl Academy of Fashion has a validation agreement with Nottingham Trent University of the UK for its degree courses.
The faculty of the Pearl Academy of Fashion has industry experience and they also undergo a Teacher's Training programme of Nottingham Trent University.
Admission to both the institutions would be through competitive exams, Mr Seth said.
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