Futurense Technologies co-founder and CEO Raghav Gupta told FE Education that Futurense’s upskilling and talent acquisition firm is targeting a net income of Rs 230 crore in FY23. Additionally, the company is focused on upskilling the country’s youth and getting them into high-paying jobs.

It plans to expand its operations in other states such as Delhi and Hyderabad. “The company is currently headquartered in Bangalore, where it trains people. It has also built another facility in Koramangala, operational in the next three months,” added Gupta.

In its first year of operations in FY21, Futurense recorded a net income of Rs 9.6 lakhs, according to regulatory filings accessed by business intelligence platform Tofler. On the other hand, the company posted a loss of Rs 66 lakhs in FY21. The company claimed a net income of Rs 4.83 crore in FY22. However, the company declined to comment on profit or loss for the same fiscal year.

Additionally, the company aims to grow its user base by 200% by FY23. Currently, the platform registers about 50 resources per month and expects to grow to 150, Gupta said. “Every month, we get about 9,000 to 10,000 applications, but we are selective in volume because we invest in those applications,” Gupta noted.

The company claims to make money by providing skilled human resources to clients. According to Gupta, Futureense recruits people from tier 2 and tier 3 cities and trains them at its Bangalore factory. The training lasts two to three months free of charge and includes free room and board. The company also claims to pay candidates their last salaries drawn during training. Once the training is complete, client companies hire candidates, Gupta said.

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“Our business model benefits employees by giving them double their salary in less than three months without any investment. After 12 months, they are promoted to full-time employees of the client and from a Start earning four times as much,” Gupta said.