In the contemporary academic landscape, university students frequently deliver presentations in front of their peers and faculty, often leading to heightened levels of Public Speaking Anxiety (PSA). This study explores the potential of Virtual Reality Exposure Therapy (VRET) to alleviate PSA among students. Our study introduces "Manch," a realistic VR environment that simulates classroom public speaking scenarios with lifelike audience interactions and a slide-deck presentation feature. The study was conducted with N=28 participants, showing a significant reduction in PSA levels post-VR exposure, thereby establishing VR's efficacy in mitigating PSA. Additionally, we also incorporated a unique qualitative analysis through participant interviews, offering deeper insights into individual experiences with VRET. Manch shows great promise as a tool for future studies and interventions aimed at reducing PSA, particularly among university students.