Prosus wrote off the fair value of its 9.6% effective interest in Byju’s in its financial year ended March 2024. It recorded a US$493 million fair-value loss. The $22 billion figure refers instead to Byju’s reported peak company valuation in early 2022—not the amount Prosus wrote off.
What Prosus reported
In its FY2024 summary consolidated financial statements, published June 24, 2024, Prosus said it “wrote off the fair value of its 9.6% effective interest in BYJU’S, due to the significant decrease in value for equity investors.” Prosus reported a US$493 million fair-value loss on that interest in other comprehensive income for the year ended March 2024. Prosus FY2024 summary consolidated financial statements
In this context, “wrote off” describes Prosus’s accounting treatment of its investment. It does not mean Prosus wrote off $22 billion, nor does it establish that Byju’s as a whole had a formally determined market value of zero.
What the $22 billion and $2.1 billion figures mean
TechCrunch reported in June 2024 that Byju’s valuation peaked at $22 billion in early 2022 and that Prosus’s stake had previously been worth about $2.1 billion. Those are different measures: the $22 billion figure is a reported company valuation, while the roughly $2.1 billion figure is the reported prior value of Prosus’s stake. Neither is the amount of the FY2024 loss. TechCrunch’s June 2024 report
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- $22 billion: Byju’s reported peak company valuation in early 2022.
- About $2.1 billion: TechCrunch’s reported prior value of Prosus’s stake.
- US$493 million: the fair-value loss Prosus recognised in FY2024 on its Byju’s interest.
- 9.6%: Prosus’s reported effective interest in Byju’s.
Why Prosus wrote down the investment
Prosus’s stated reason was a “significant decrease in value for equity investors.” That is the explanation in the financial statement; it does not, by itself, specify every factor behind the decline. The statement attributes the rationale to Prosus as a company, not to a named individual.
What a zero write-off does—and does not—tell you
An investor’s carrying value is the value assigned to its investment in its own accounts. Writing that value off to zero means the investor no longer carries a positive fair value for that stake in those accounts. It is distinct from a company-wide market valuation, a sale price, or a court’s determination of what creditors or shareholders might recover.
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Accordingly, Prosus’s accounting entry should not be read as proof that Byju’s had a formally established market value of zero, that it was legally insolvent, or that its creditors would recover nothing. Those conclusions require separate evidence.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What this report establishes about Byju’s current status
The Prosus FY2024 statement and the contemporaneous reporting describe the write-off and the earlier valuation figures; they do not establish Byju’s operating, insolvency, or control status as of October 8, 2026. A current assessment of those questions would require up-to-date company records and relevant court or insolvency filings. Prosus annual reports index
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