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Bangalore K-12 Education Market 2026

Strategic market assessment with demand-supply analysis, need gap identification, and investment opportunity mapping.

Executive Summary

Market at a Glance — FY 2025-26

$2.89B
Market Size (FY26E)
↑ 14% CAGR (FY21-26)
6,842
Total Schools
↑ 2.5% YoY
2.21M
Student Enrolment
↑ 2.5% CAGR
38,500
Unmet Demand (Seats)
Premium Segments
Exhibit 1INDICATIVE

Market Size Evolution (FY 2015-2026)

K-12 education market value with historical actuals and projections

Market Value Trajectory (USD Million)
FY15 Base to FY26 Projected | CAGR: 15% (11-year)
3,000 2,400 1,800 1,200 600 0 626 727 851 1,003 1,188 1,415 1,692 1,932 2,183 2,431 2,672 2,894 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26E Actual Projected
Historical (FY15-21)
Projected (FY22-26)

Source: RAYSolute analysis | Note: FY22-26 projections based on demographic trends, fee inflation, and segment migration patterns

Exhibit 2INDICATIVE

Market Value Distribution by Fee Segment

Comparison of FY21 vs FY26E showing premiumization trend

FY 2020-21: $1.69B
Segment contribution to market value
66.9% Premium $1,131M 16.3% Mass $275M 11.2% Masstige $190M 5.6% Super Premium $95M
FY 2025-26E: $2.89B
Projected segment contribution
71.2% Premium $2,058M ↑ +82% vs FY21 9.8% Mass $283M 11.5% Masstige $333M 7.6% Super Prem $220M

Key Insight: Premiumization Accelerating

  • Premium segment grows from 67% to 71% of market value — consolidating dominance
  • Super Premium nearly doubles from 5.6% to 7.6% share — fastest growing tier
  • Mass segment contracts from 16% to under 10% — structural decline continues
Exhibit 3INDICATIVE

Supply vs. Demand: Market-Wide View

Total seat capacity compared to school-going population (FY 2025-26E)

Aggregate Supply-Demand Balance
City-wide analysis across all fee segments
TOTAL SUPPLY 2.17M Seat Capacity 6,842 schools × avg 317 seats GAP TOTAL DEMAND 2.21M School-Going Population Ages 3-18 in target SEC segments NET GAP: -38,500 seats

Source: RAYSolute demographic modeling, UDISE+ capacity data | Note: Demand includes only economically addressable population

Exhibit 4INDICATIVE

Segment-wise Supply-Demand Analysis

Identifying undersupply pockets by fee tier (FY 2025-26E)

Bullet Chart: Capacity vs. Target Demand by Segment
Bar = Current Supply | Gold marker = Demand | Gap shown as % undersupply
Super Premium (>$8,000/yr) 14,200 26,800 -47% GAP 12,600 seats Premium ($2,000-8,000/yr) 4,52,000 4,73,000 -4.4% GAP 21,000 seats Masstige ($500-2,000/yr) 2,31,000 2,36,000 -2.1% GAP 4,900 seats Mass (<$500/yr) 14,76,000 14,76,000 BALANCED ~0 gap 0 500K 1M+
Well-supplied (<5% gap)
Moderate gap (5-20%)
Severe undersupply (>20%)
Current Supply
Demand Target

Source: RAYSolute supply-demand model | Demand derived from SEC classification and school-going population

Exhibit 5INDICATIVE

Need Gap Quantification & Investment Opportunity

Absolute seat shortfall and addressable market value by segment

Marimekko Chart: Need Gap by Segment (Width = Gap Size, Height = Fee Level)
Total addressable need gap: 38,500 seats worth $198M annually
Annual Fee Level → $10K+ $5K $2K $500 $0 SUPER PREMIUM 12,600 seats | $126M/yr 33% of gap value PREMIUM 21,000 seats | $63M/yr 55% of gap seats | 32% of gap value MASSTIGE 4,900 seats $8M/yr ← Seat Gap Size (proportional width) Total Need Gap: 38,500 seats | Annual Revenue Opportunity: $198M | Capital Required: ~$400M

Source: RAYSolute investment analysis | Capital estimated at $10,000-15,000 per seat for greenfield development

Super Premium
-12,600
seats short | 47% undersupply
Opportunity: 4-5 new international schools
Investment: $120-150M
Premium
-21,000
seats short | 4.4% undersupply
Opportunity: 10-12 mid-premium schools
Investment: $180-220M
Masstige
-4,900
seats short | 2.1% undersupply
Opportunity: 3-4 value-premium schools
Investment: $40-50M
Exhibit 6INDICATIVE

Geographic Distribution of Need Gap

Micro-market analysis of undersupply by zone (Premium + Super Premium)

Horizontal Bar: Premium Seat Gap by Zone (FY 2025-26E)
Bars show absolute seat shortfall; sorted by opportunity size
2,000 5,000 8,000 11,000 Premium Seat Gap North Bangalore Hebbal, Yelahanka, Devanahalli 9,850 seats East Bangalore Whitefield, Marathahalli, KR Puram 7,820 seats South Bangalore Electronic City, Sarjapur, HSR 6,540 seats West Bangalore Rajajinagar, Malleshwaram 4,120 seats Central Bangalore Indiranagar, Koramangala, MG Road 2,870 seats Peripheral Areas Kanakapura, Nelamangala, Hoskote 2,400 seats
Severe gap (>7,000)
High gap (5,000-7,000)
Moderate gap (3,000-5,000)
Low gap (<3,000)

Source: RAYSolute micro-market analysis | Zones defined by BBMP ward clusters

Priority Investment Zones

  • North Bangalore: Highest absolute gap driven by IT corridor expansion and new township development
  • East Bangalore: Whitefield-Marathahalli belt continues to see demand outpace supply despite new school additions
  • South Bangalore: Sarjapur Road and Electronic City showing rapid demand growth from tech workforce migration
Exhibit 7INDICATIVE

Board-wise Growth Trajectory

School count evolution and 5-year CAGR by curriculum board

Growth-Share Analysis: Schools by Board (FY21 → FY26E)
Bar pairs show absolute growth; percentages indicate CAGR
6,000 5,000 4,000 500 100 0 -2.8% 5,278 4,580 State Board +4.8% 422 534 CBSE +3.2% 253 297 ICSE +12.1% 56 99 Cambridge +8.4% 20 30 IB FY21 FY26E

Source: Board affiliation data, RAYSolute projections | Note: Scale compressed for State Board visibility

Primary Research Insights

Parent Survey Analysis — Premium Schools Segment

Deep-dive into parent preferences, decision drivers, and unmet needs based on primary survey of 30 parents from premium international schools in Bangalore. Survey conducted Q4 FY25.

30
Parents Surveyed
n=30, Premium Segment
42
Avg. Parent Age
Range: 32-52 years
₹5.9L
Avg. Fee Capacity
↑ 18% vs FY23
80%
Prefer IB Board
+30pp shift
100%
Teacher Priority
#1 Decision Factor
67%
Own Home
Settled Families
Exhibit 8INDICATIVE

School Selection Parameters — Importance Profile

% of parents rating each parameter as "High Importance" in school selection decision

Radar Chart: Parameter Importance (n=30)
Outer ring = 100% importance; inner rings at 25% intervals
Teachers 100% Progressive Learning 80% Class Size 73% Sports/Co-curricular 67% Infrastructure 53% Board/Curriculum 43% Importance %

Source: RAYSolute Parent Survey Q4 FY25 | n=30 premium segment parents | Scale: 0-100%

Key Findings — Selection Parameters

  • Teachers are non-negotiable: 100% of parents rate teacher quality as high importance — the only parameter with unanimous priority
  • Pedagogy over infrastructure: Progressive learning (80%) outranks physical infrastructure (53%) by 27 percentage points
  • Class size concerns: 73% prioritize smaller class sizes, signaling opportunity for boutique school formats (15-20 students)
  • Fees are secondary: Only 17% rate fees as high importance — premium parents value quality over cost
Exhibit 9INDICATIVE

Annual Education Expenditure Build-Up

Waterfall analysis of total annual spend per child in premium segment (₹)

Waterfall: Fee Component Analysis (Average across n=30)
Base tuition to total annual cost; all figures in INR
₹5.0L ₹4.0L ₹3.0L ₹2.0L ₹1.0L ₹0 ₹3.0L Base +₹55K +₹30K +₹6K +₹25K +₹15K +₹35K ₹4.66L TOTAL BaseTuition Transport Meals Uniforms Activities Trips Books/Tech TOTAL 55% ancillary costs beyond base tuition

Source: RAYSolute Parent Survey Q4 FY25 | Average annual expenditure per child | Premium segment only

Exhibit 10INDICATIVE

Curriculum Board Preference Migration

Shift in board preference from current enrollment to stated preference

Slope Chart: Current Board → Preferred Board (% of parents)
Shows net migration direction; thickness indicates magnitude of shift
CURRENT PREFERRED 50% IB 80% IB +30pp ▲ 27% CAIE 7% CAIE -20pp ▼ 17% ICSE 10% ICSE -7pp 3% CBSE 3% CBSE 0pp (Stable) Strong IB preference 80% want IB curriculum

Source: RAYSolute Parent Survey Q4 FY25 | n=30 | pp = percentage points shift

Strategic Implications — Board Preference

  • IB dominance clear: 80% of premium parents prefer IB over any other curriculum — massive 30pp shift from current enrollments
  • Cambridge losing share: CAIE drops from 27% to 7% preferred — parents see diminishing differentiation vs IB
  • ICSE holding: Marginal decline suggests some value-conscious parents still prefer ICSE as "affordable premium"
  • Investment signal: New schools should prioritize IB authorization; existing CAIE schools may consider dual accreditation
Exhibit 11INDICATIVE

Decision Sensitivity Analysis — Dealbreakers

Impact of missing/poor factors on school selection decision (% negative impact)

Tornado Chart: Factor Sensitivity (n=30)
Longer bars = higher impact on rejection decision; sorted by severity
-100% -75% -50% 0 Poor Teacher Quality -95% No Progressive Pedagogy -80% Large Class Size (>30 students) -75% No Sports/Co-curricular Activities -65% Poor Infrastructure -55% Wrong Curriculum Board -45% Long Commute (>45 min) -40% High Fees -20% Impact Severity Critical (>70%) High (40-70%) Moderate (<40%) Top 3 factors account for 83% of rejections

Source: RAYSolute Parent Survey Q4 FY25 | Impact = % parents who would reject school if factor present/absent

Exhibit 12INDICATIVE

Current vs Preferred — Gap Analysis

Comparison of current situation vs desired state across key metrics

Dumbbell Chart: Preference Gaps (n=30)
Gray = Current state | Blue = Preferred state | Gap shown as % change
0 25 50 75 100 Class Size (students) 24 21 -13% Distance (km) 12 10 -17% Commute Time (minutes) 32 28 -13% IB Curriculum (% preference) 27% 80% +196% Day School (% preference) 37% 63% +70% Current Preferred

Source: RAYSolute Parent Survey Q4 FY25 | n=30 premium segment parents

Exhibit 13INDICATIVE

Facility Priority Matrix — Investment Guide

4-quadrant analysis: Importance vs Current Availability

Scatter Plot: Facility Prioritization (n=30)
X-axis = Current availability (%) | Y-axis = Importance rating (%) | Bubble size = Gap magnitude
Current Availability (%) Importance Rating (%) 0% 35% 70% 85% 100% 0% 25% 50% 75% 100% PRIORITY GAP Action Required MAINTAIN Excellence Zone LOW PRIORITY Deprioritize POTENTIAL Over-investment SMS Alert 77% Tablet/iPad 50% 90% Medical Room Connected Class 73% Swimming 57% AC 3% Activity Zone 17% CCTV 47% Transport 33% Science Lab 33% Indoor Sports 13%

Source: RAYSolute Parent Survey Q4 FY25 | Bubble labels show importance % | n=30

Investment Prioritization Recommendations

  • Priority Gap (Red): SMS/Parent communication systems and tablet-based learning show high demand but low current availability — immediate investment opportunity
  • Over-investment Risk (Yellow): Schools may be over-investing in CCTV, transport facilities, and science labs relative to parent priority
  • Maintain Excellence (Green): Medical rooms, connected classrooms, and swimming facilities are valued and well-provided — sustain current investment
  • Deprioritize (Gray): AC and activity zones have low importance — capital better deployed elsewhere
Exhibit 14INDICATIVE

Competitive Landscape — Brand Preference Share

Share of voice analysis based on parent mentions (unprompted recall)

Treemap: School Brand Preference (n=30 parents)
Area proportional to mention frequency; numbers show parent count
Omega Metro School 10 mentions 22% Epsilon Intl 8 mentions 17% Lambda Heritage 6 mentions | 13% Alpha Academy 6 | 13% Delta Premier 6 | 13% Xi Foundation School 3 mentions | 7% Eta Academy 2 | 4% Gamma World 2 | 4% Others 3 | 7% TOP 5 = 78% of mentions Market Concentration: Top 5 schools command 78% of premium parent mindshare. School A leads with 22% share, followed by Canadian (17%). Opportunity exists for differentiated new entrants to capture share from fragmented "Others" segment (7%).

Source: RAYSolute Parent Survey Q4 FY25 | Unprompted brand recall question: "Which schools would you consider for your child?"

Exhibit 15INDICATIVE

Strategic Recommendations — Parent Survey Synthesis

Actionable insights for school operators and education investors

FOR NEW SCHOOLS

1. Prioritize IB authorization — 80% preference makes IB table stakes for premium segment

2. Invest in teacher quality — 100% dealbreaker; plan for 15-20% premium on teacher compensation

3. Target 20-25 class size — Sweet spot based on preference data; enables premium pricing

4. Location within 10km — North/East Bangalore zones show largest gaps

FOR EXISTING SCHOOLS

1. Add IB stream — CAIE schools losing share; dual accreditation is viable bridge strategy

2. Upgrade parent communication — SMS alerts and digital connectivity in priority gap quadrant

3. Review facility investments — Indoor sports, CCTV show over-investment vs parent priority

4. Reduce class sizes — 13% reduction desired; premium opportunity for smaller sections

FOR INVESTORS

1. Premium segment = ₹5-7L sweet spot — High willingness to pay; median capacity at ₹5L

2. Focus North/East corridors — Combined gap of 17,670 premium seats in IT corridors

3. Day school format preferred — 63% preference over residential; lower capex model

4. Target 300-500 student capacity — Optimal for boutique positioning and quality control

Exhibit 16INDICATIVE

International Schools Landscape — Key Rankings 2025-26

Top-ranked international schools based on Education World, Times Education Excellence, and Education Today Awards

Premium International Schools: Rankings & Key Metrics (2025-26)
Data verified January 2026 | Total admission cost includes all fees
School Key Rankings 2025-26 Est. Campus Cost (₹L) Curricula
Alpha International Academy IVY LEAGUE Elevated to IVY LEAGUE category (Education World 2025-26); #39 IB Globally; #3 IB India 2000 140 acres 10.60 IB, IGCSE
Beta Global School #1 BOARDING #1 Residential School India (Education World + Times + Education Today 2025-26) 1999 350 acres 13.83-17.08 CBSE, IGCSE, IBDP
Gamma World Academy #1 IB 11 YRS #1 IB School Bangalore (11 consecutive years); IB Diploma Avg 36.5 (2024) 2003 40 acres 7.68 IB (Full)
Delta Premier School CIS & NEASC Accredited; 87% graduates in top 100 universities; IBCP authorized May 2024 2008 34 acres 20.67-21.24 IB PYP, MYP, DP, CP
Epsilon International Top 3 International Schools (Education World 2023); Apple Distinguished School 1996 15 acres 5.00-15.66 IB, Cambridge
Zeta Learning Centre #1 CO-ED DAY #1 Co-ed Day School South India (since 2020); Top 3 in India; 7:1 student-teacher ratio 2005 20 acres 5.77-9.55 ICSE, ISC
Eta Global Academy #1 ICSE School Bengaluru 2024; Perfect 45/45 IBDP score 2025; AP Program launched 2025-26 2004 35 acres 2.50-6.00 ICSE, ISC, IGCSE, IBDP, AP
Theta Progressive School EXPANDING Major expansion: 7→15 acres, 130K→450K sq.ft by June 2026 2016 7→15 acres 4.68-5.00 IBDP
Iota British Academy NEW 2023 NEW ENTRANT 2023 — Part of Harrow Schools global network; British boarding heritage 2023 Premium Premium IB, Cambridge
Kappa World School 'Best School Brand' Economic Times; Top 3 IB Schools Bangalore 2007 6 acres 3.00-7.41 IGCSE, IBDP, ICSE
Lambda Heritage School Top 10 schools in India; Top 5 co-ed Bengaluru (CFore 2024); 40 years celebration 1984 5 acres 2.79-8.50 IB, IGCSE
Mu International Academy Top 5 International Schools Bangalore; 70% graduates in top 100 world universities 2012 10-11 acres 3.30-10.60 IB PYP, MYP, DP
Nu Excellence Academy #5 Bangalore International Day-cum-Boarding (Education World); Golf Excellence Program 2015 60 acres 5.50-12.45 IB (Full)

Source: RAYSolute Consultants Analysis | Education World Rankings 2025-26, Times Education Excellence 2025, School websites (Jan 2026)

Key Developments 2025-26

  • Alpha Academy elevated to Ivy League: New super category by Education World recognizes consistently top-ranked schools
  • Beta Global sweeps #1 rankings: Dominated Education World, Times Education Excellence, and Education Today awards for residential schools
  • Iota British enters market: Premium British boarding brand adds competition at ultra-premium tier (₹15L+)
  • Theta Progressive School 3x expansion: Tripling campus to 450,000 sq.ft by June 2026 signals demand in mid-premium segment
Exhibit 17INDICATIVE

Fee Tier Stratification — Market Pyramid 2025-26

Distribution of international schools by total admission/annual cost

Market Stratification by Fee Tier
Based on 23 premium K-12 international schools surveyed
ULTRA-PREMIUM ₹15-21+ Lakhs | 3 schools PREMIUM ₹10-15 Lakhs | 4 schools MID-PREMIUM ₹5-10 Lakhs | 7 schools MID-TIER / VALUE ₹1.5-5 Lakhs | 9+ schools Delta Premier (₹21L) Beta Global (₹17L), Epsilon (₹15.6L) Alpha Academy, Sarala Birla Oakridge DP, Sharanya Indus, Lambda Heritage TRIO, Inventure, Candor NEW 2023 Iota British British boarding brand

Source: RAYSolute Consultants Analysis | School fee data verified January 2026

Fee Tier Dynamics

  • Ultra-Premium (₹15-21L+): Growing fastest at 18% YoY; driven by expat families and tech executives
  • 10-15% annual fee increases: Expected across all tiers; parents accept premium for quality differentiation
  • 72% parents prioritize "global exposure": Over academics alone (Learning Curve Foundation Survey 2025)
Exhibit 18INDICATIVE

Curriculum Offerings Distribution

Number of schools offering each curriculum type (n=23 schools, multiple curricula per school)

Curriculum Penetration in Premium Segment
Schools may offer multiple curricula | IB dominates at 74%
IB Programs 17 schools 74% Cambridge IGCSE/AS-A 13 schools 57% ICSE/ISC 9 schools 39% CBSE 6 schools 26% Key Insight 2025-26 IB curriculum dominates at 74% Cambridge declining from 65% to 57%

Source: RAYSolute Consultants Analysis | 23 K-12 International Schools surveyed (2025-26)

Exhibit 19INDICATIVE

Market Expansion Timeline 2024-2028

Major infrastructure investments and new entrants in Bangalore's premium education market

Development Pipeline — Announced Projects & Expansions
Key milestones driving market evolution
2023 Iota British NEW ENTRANT 2024 Delta Premier New HS Block + IBCP 2025 Multiple Schools Delta Premier Auditorium Eta Academy AP Program 2026 Theta Progressive School 450,000 sq.ft campus 3x expansion 2027-28 Eta Global New Hennur Campus Infrastructure Investment • Neev: 7→15 acres, 450K sq.ft New Programs • Eta Academy: AP Program 2025-26 Market Trends • 220+ international schools

Source: RAYSolute Consultants | School announcements, Education World, Learning Curve Foundation Survey 2025

Market Evolution Summary

  • Supply expansion: Major players investing ₹100+ Cr in new campuses and facilities
  • Program diversification: Schools adding AP, IBCP alongside traditional IB/Cambridge tracks
  • Geographic spread: New developments focused on North Bangalore (Hennur, Yelahanka) corridors
Exhibit 20INDICATIVE

Teacher Compensation Benchmarks by School Tier

Annual CTC ranges for experienced teachers (5+ years) across fee tiers | Data indicative

Annual Teacher Salary Ranges by Fee Tier (₹ Lakhs)
Based on market research of premium international schools | Experienced teachers (PGT/Senior)
₹25L ₹20L ₹15L ₹10L ₹5L ₹15-24L Avg: ₹18L ₹12-18L Avg: ₹14L ₹8-14L Avg: ₹10L ₹5-10L Avg: ₹7L ₹3-6L Ultra-Premium ₹15L+ fees Premium ₹10-15L fees Mid-Premium ₹5-10L fees Mid-Tier ₹2-5L fees Budget ₹1-2L fees

Source: RAYSolute Consultants Market Research (Indicative) | Based on industry surveys and recruitment data 2025-26

Compensation Insights

  • 4x salary differential: Ultra-premium schools pay ~4x budget tier salaries for comparable experience
  • IB premium: IB-trained teachers command 15-25% premium over CBSE/ICSE teachers
  • Retention challenge: High attrition (18-22%) at mid-tier schools as teachers migrate to premium segment
Exhibit 21INDICATIVE

Principal/Head of School Compensation Benchmarks

Annual CTC ranges for school leadership positions | Data indicative

Principal Annual Compensation by School Tier (₹ Lakhs)
Includes base salary, performance bonus, housing allowance where applicable
Ultra-Premium Schools ₹60-120 Lakhs + Housing + Car Premium Schools ₹40-70 Lakhs + Housing Mid-Premium Schools ₹25-45 Lakhs Mid-Tier Schools ₹15-30 Lakhs Budget Schools ₹8-18L Market Benchmark IB Head of School: ₹50-80L International School Head: ₹70-120L (Expat packages typically higher)

Source: RAYSolute Consultants Market Research (Indicative) | Leadership recruitment data 2025-26

Exhibit 22INDICATIVE

Co-Curricular Activities Availability by School Tier

Activity availability across school segments | Data indicative

Activity Offerings Matrix — Schools by Tier
✓ = Available | ✗ = Not Available | Based on survey of representative schools
School Tier Swimming Horse Riding Robotics Lab Music Studio Art Lab Theater Outdoor Ed Golf
Ultra-Premium (₹15L+)
Premium (₹10-15L)
Mid-Premium (₹5-10L)
Mid-Tier (₹2-5L)
Budget (₹1-2L)

Key Gap: Horse riding, golf, and outdoor education programs show largest tier disparity — available in 100% ultra-premium schools but only 0-20% budget schools

Source: RAYSolute Consultants School Survey (Indicative) | Representative sample across fee tiers

Exhibit 23INDICATIVE

Infrastructure & Facilities Benchmarks by Tier

Average metrics across school segments | Data indicative

Facility Metrics Comparison Across Fee Tiers
Campus size, student-teacher ratio, and key infrastructure indicators
ULTRA-PREMIUM (₹15L+)

Campus: 30-350 acres

Student-Teacher: 6:1 to 10:1

Class Size: 15-20 students

Sports Facilities: 8-12 types

Labs: 10-15 specialized

Library: 25,000+ books

MID-PREMIUM (₹5-10L)

Campus: 5-25 acres

Student-Teacher: 12:1 to 18:1

Class Size: 25-30 students

Sports Facilities: 5-8 types

Labs: 5-8 specialized

Library: 10,000-20,000 books

BUDGET (₹1-2L)

Campus: 0.5-3 acres

Student-Teacher: 25:1 to 35:1

Class Size: 35-45 students

Sports Facilities: 2-4 types

Labs: 2-4 basic

Library: 3,000-8,000 books

Source: RAYSolute Consultants Facility Audit (Indicative) | Average metrics based on 50+ school assessments

Infrastructure Investment Priorities

  • Land cost premium: Ultra-premium schools invest ₹50-200 Cr in campus infrastructure alone
  • Technology gap: AI labs, maker spaces becoming differentiators — 90% ultra-premium vs 20% budget
  • Green infrastructure: Solar panels, rainwater harvesting now standard in premium segment

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