What MBD Group does

MBD Group is a family-owned Indian conglomerate founded in 1956 by Shri Ashok Kumar Malhotra in Jalandhar, Punjab, and currently led across three generations of the Malhotra family. The company operates across four principal verticals: Education and Publishing (MBD Books, Holy Faith International with 3,000+ titles, Modern Publishers, MBD Disha for teacher training, and the AASOKA AI-enabled blended learning platform used by 4,000+ schools and 9.5 lakh+ users); Hospitality (Radisson Blu MBD Hotel Noida, Radisson Blu Hotel MBD Ludhiana, MBD Steigenberger JV with Deutsche Hospitality, and MBD Express mid-market brand); Design and Construction (MBD Design and Build/Oxbridge); and Malls (MBD Neopolis Mall in Jalandhar, plus the under-construction MBD Hotel Zephyr). Education is supported by vertically integrated operations including a paper mill in Himachal Pradesh and eight state-of-the-art printing units producing 50 million books and 30 million notebooks annually, plus a 23-branch distribution network covering 5,000 Indian cities and exports to 30+ countries across three continents.

The company's go-to-market combines direct B2B sales to K-12 schools and nine Indian state governments for ICT and content programs, a master franchise agreement with Radisson Hotel Group (signed February 2026) granting exclusive India-wide development rights for Radisson Collection and Radisson RED brands across 50 hotels over 10 years under an asset-light model (80% managed/franchised, 20% owned), and direct retail at its integrated mall property. Technology partnerships with Microsoft support AASOKA's AI-enabled assessments, while a Steigenberger joint venture and World Travel and Tourism Council (WTTC) sustainability partnership round out the alliance portfolio. Revenue is generated through diversified streams: book and content sales (with growing subscription/recurring elements via AASOKA), hotel management and franchising fees, mall retail leasing, construction services, and government ICT contracts, with the new hotel pipeline projected to contribute Rs 4,500 crore in cumulative revenue over the next decade on top of existing operations.

Name

MBD Group

Legal name

MBD Group

Website

https://mbdgroup.com

Company type

Private

Founded year

1956

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

MBD Group is a family-owned Indian conglomerate founded in 1956, operating across K-12 publishing and EdTech (AASOKA platform, 4,000+ schools), luxury and mid-market hospitality (Radisson and Steigenberger brands), malls, and design and construction, with vertically integrated paper manufacturing and distribution across India and three continents.

Ownership category

akta.pro rank

Headquarters

HQ city

New Delhi

HQ country

India

HQ region

Asia

Offices22 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Publishing & Education Services: Book publishing, e-learning solutions, digital content, ICT infrastructure solutions, and teacher training services. Produces 50 million books and 30 million notebooks annually. Revenue from school partnerships, government ICT projects, and content licensing.
2. Hospitality Operations: Hotel ownership, management, and franchising under Radisson brands. Owns Radisson Blu MBD Hotel Noida and Ludhiana, with expansion through asset-light model. Joint venture with Steigenberger for luxury hotels.
3. Real Estate & Mall Development: Mall development (MBD Neopolis), design and construction services (Oxbridge), and mixed-use projects. Revenue from retail leasing, property sales, and construction services.
4. Paper Manufacturing: Self-owned paper manufacturing unit supporting backward integration for publishing operations.
5. Franchise & Licensing: Master franchise agreement with Radisson Hotel Group for Radisson Collection and Radisson RED brands. Management and franchising fees from hotel partners.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels4 records

Core offering

MBD Group is a diversified Indian conglomerate that publishes 50 million K-12 books and 30 million notebooks annually across all subjects, boards, and Indian languages, and provides the AASOKA AI-enabled blended learning platform to 4,000+ schools. It also operates luxury and mid-market hotels under Radisson, Steigenberger, and MBD Express brands, develops integrated retail malls (MBD Neopolis), and runs an in-house design and construction business (MBD Design & Build / Oxbridge).

Product overview

MBD Group operates as a diversified conglomerate with multiple business verticals including Education/Publishing, Hospitality, Design & Construction, and Malls. In Education, the core products include AASOKA (AI-enabled blended learning platform), Holy Faith International, Modern Publishers, and MBD Alchemie for e-learning, supported by sub-products like AASOKA WizKids, AI STEAM Lab, MBD Disha (teacher training), MBD E-Books, and educational apps. In Hospitality, the company operates Radisson Blu MBD Hotel Noida, Radisson Blu Hotel MBD Ludhiana, MBD Steigenberger joint venture, and MBD Express mid-market hotels, with F&B brands including The Chocolate Box & Lounge, Club MBD, and specialty concepts like Saffron & Gold. The Design & Construction vertical includes MBD Design & Build (Oxbridge) for construction projects and MBD Neopolis Mall for retail development.

Differentiator

Problem solved

Functional benefit

Brands

• AASOKA: AI-enabled blended learning platform for K-12 schools providing books, multimedia resources, lesson plans, adaptive assessments, and AI-powered tools aligned with NEP 2020.
• AASOKA Wizkids
• AI STEAM Lab
• MBD Alchemie
• Holy Faith International
• Modern Publishers
• MBD Books
• MBD Disha
• MBD South Africa
• Democratic World
• Radisson Blu MBD Hotel Noida
• Radisson Blu Hotel MBD Ludhiana
• MBD Steigenberger Hotels and Resorts
• MBD Express Hotels and Resorts
• MBD Neopolis Mall
• The Chocolate Box & Lounge
• MBD Design & Build (Oxbridge)
• Pichola Vilas
• Saffron & Gold
• MBD Privé Collection

Products and services

• AASOKA AI-enabled blended learning platform for K-12 schools providing a complete learning solution including books, multimedia resources, lesson plans, adaptive assessments, analytics, and AI-powered tools aligned with NEP 2020 and NCF.
• AASOKA WizKids Comprehensive kit for nurturing young minds in Foundational Literacy, Foundational Numeracy, and Computational Thinking for early learners, including storybooks, rhyme books, flashcards, and a screenless coding bot with directional and coding buttons.
• AI STEAM Lab Comprehensive kit designed for children aged 8 and above to learn coding and robotics education, fostering problem-solving, critical thinking, and computational skills.
• MBD Alchemie E-learning venture providing digital learning solutions and educational content for K-12 students.
• Holy Faith International Leading educational publisher in India with a portfolio of over 3,000+ titles publishing books aligned with NEP 2020 and NCF for all educational boards.
• Modern Publishers Publisher offering wide range of curriculum-aligned textbooks and learning resources from early years to higher education for CBSE and state boards.
• MBD Books Book publishing brand covering all classes, subjects and educational boards in India, producing 50 million books and 30 million notebooks annually.
• MBD Disha Teacher training platform offering programs focused on latest educational reforms and pedagogical approaches including NEP 2020 and NCF implementation.
• Radisson Blu MBD Hotel Noida Five-star luxury hotel in Noida, operational since November 2003, the city's first fully owned and managed hotel by MBD Group.
• Radisson Blu Hotel MBD Ludhiana First five-star hotel in Ludhiana city, launched in 2013 as part of MBD Group's hospitality expansion.
• MBD Steigenberger Hotels and Resorts Joint venture between MBD Group and Deutsche Hospitality (Germany's largest hotel chain) for luxury hotels on management contracts, combining German quality with Indian tradition.
• MBD Express Hotels and Resorts Mid-market hotel brand delivering international standards in India at affordable prices for price-conscious business travelers and city tourists.
• MBD Neopolis Mall Retail and entertainment destination in Jalandhar designed with a unique 3-in-1 concept integrating mall, five-star deluxe hotel, and entertainment spaces.
• MBD Design & Build (Oxbridge) Design and construction arm offering complete solutions for construction and interior-designing requirements for commercial and residential projects.
• MBD Hotel Zephyr Two million sq. ft. luxury hotel and luxury serviced apartments development under construction.
• Pichola Vilas Udaipur Boutique heritage-led hospitality experience at Lake Pichola, Udaipur.
• The Chocolate Box & Lounge F&B brand offering innovative dining experiences.
• MBD E-Books Digital copies of MBD Group books with interactive features including animations, videos, and activities, not merely flat digital versions of printed books.
• Cloud-Based LMS Cloud-based learning management system enabling schools to efficiently manage learning material from a single platform with video lessons, e-books, mock tests, and assignments.
• Democratic World Magazine offering positive and informed opinion on world issues, engaging with the public on social significance through social media.
• Robotics Education Program Robotics equipment, training, student workshop and support program for STEM education, delivered through schools and the Robotics Lab on Wheels mobile van.

Quantifiable outcome

• AASOKA ranked 1st in TIME World's Top EdTech Rising Stars 2025
• +4 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature5 records

Partnerships

Five partnerships are on record, tiered flagship, core and minor.

• Radisson Hotel GroupflagshipOEM/ Whitelabel/ Licensing Partner · 23 February 2026Long-term master franchise agreement to develop 50 co-branded Radisson Collection MBD and Radisson RED hotels across India over 10 years. Asset-light model with 80% managed/franchised and 20% owned properties. MBD has exclusive development rights for Radisson Collection and RED brands in India. Partnership builds on two-decade relationship with MBD as top-performing Radisson partner in Asia Pacific.
• Deutsche Hospitality (Steigenberger)coreStrategic or Co-development PartnerJoint venture partnership with Germany's largest hotel chain for MBD Steigenberger Hotels and Resorts. Combines German hospitality quality standards with Indian market expertise. MBD Steigenberger undertaking luxury hotels on management contracts.
• MicrosoftcoreTechnology or IntegrationTechnology partnership for education solutions and digital transformation initiatives. MBD leverages Microsoft technologies for EdTech platform development and cloud solutions.
• 9 State Governments (India)coreStrategic or Co-development PartnerPartnership with nine Indian state governments for ICT projects in education. MBD provides ICT infrastructure, digital solutions, and educational content to government schools.
• World Travel and Tourism Council (WTTC)minorStrategic or Co-development PartnerMBD Group partnering with WTTC to establish Hotel Sustainability Basics - a globally recognized set of sustainability indicators for hotels. Focus on reducing environmental footprint and promoting inclusion.

Scale indicators13 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• Scholastic Corporation: Global children's books and education company with school book fairs and digital learning. Comparable to MBD on K-12 content library, school channel distribution, and blended learning positioning.
• EIH Limited (Oberoi Group): Indian luxury hotel chain (Oberoi, Trident) with both owned and managed properties. Comparable to MBD's mixed owned/managed luxury hotel strategy and India-centric expansion approach.
• Indian Hotels Company (Taj Hotels): India's largest luxury hotel operator (Taj, Vivanta, Ginger brands). Comparable to MBD's luxury hospitality vertical (Radisson Collection/Steigenberger) on owned-and-managed luxury model in Indian metros and leisure destinations.
• ITC Limited (Hotels Division): Indian conglomerate with luxury, leisure, and business hotel brands (ITC Hotels, Welcomhotel). Comparable to MBD on Indian-owned-and-managed luxury hotel model and brand-licensing approach within a diversified parent.
• Pearson plc: Global education publisher and assessment provider with K-12 and digital learning platforms. Comparable to MBD's curriculum-aligned textbooks, EdTech platform, and school assessment offerings at international scale.

Emerging players

• BYJU'S: India's largest K-12 and test-prep EdTech platform with AI-powered adaptive learning. Comparable to MBD's AASOKA on AI-enabled blended learning for K-12 schools and government/state partnerships.
• Vedantu: Indian live-online tutoring and K-12 EdTech platform. Comparable to AASOKA on digital learning delivery for Indian K-12 schools and competitive overlap in CBSE/ICSE-aligned content.

Direct peers

• Navneet Education Limited: Leading Indian educational publisher and stationery producer (Vikas Practise Books, Top Scorer) with a national distribution footprint. Directly comparable to MBD on K-12 publishing, regional language content, and own manufacturing/distribution model.
• S Chand and Company Limited: Indian K-12 and higher-education publisher with CBSE/ICSE/state board coverage. Closely comparable to MBD's MBD Books, Holy Faith, and Modern Publishers portfolio in curriculum-aligned content and school channel sales.
• Lemon Tree Hotels: India's largest mid-market hotel chain with franchise and management model. Comparable to MBD Express on asset-light mid-market hotel positioning and Indian Tier 2/3 city expansion thesis.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/MBDGroupNewDelhi
• Xx.com/mbdgroupdelhi
• LinkedInlinkedin.com/company/mbdgroup

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries15 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MBD Group