UTV ups movie slate, eyes Rs 4.5 bn revenue in FY'11

MUMBAI: UTV has expanded its movie slate for the fiscal and is eyeing a revenue of Rs 4.50 billion from this segment, up 42 per cent from the year-ago period.

A list of 12 movies have been firmed up for 2010-11, a large part of it will be via the co-production route.

Narrowing its risks, UTV will also indulge in a high element of pre-sales activities. In the pre-sale of music, home video and satellite TV rights of each film, UTV hopes to cover up 50 per cent of its production costs.

UTV has already undertaken the pre-sale of some of the TV and music rights for select titles from the slate that amounts to over Rs 800 million.

UTV‘s movie pipeline that opened with Raajneeti will quickly follow with Karan Johar‘s I Hate Luv Stories. The film is set for release on 2 July.

16 July will see the release of Udaan produced by Sanjay Singh, Anurag Kashyap and UTV. Later on 23 July, UTV Spotboy will release Chillar Party.

UTV‘s co-production with Aamir Khan titled Peepli Live will release on 13 August while its home production Paan Singh Tomar, directed by Tigmanshu Dhulia, will open on 27 August.

Another UTV co-production with Sanjay Leela Bhansali, Guzarish, starring Hrithik Roshan and Aishwarya Rai, will release on 19 November. 10 December will see the release of UTV Spotboy‘s No One Killed Jessica. The releases of the year will end with the Farah Khan directed Tees Mar Khan.

The company‘s account for 2011 will open with Vishal Bhardwaj‘s Saat Khoon Maaf. The release dates of We Are Family and Delhi Belly have not yet been declared with the latter still stuck in the production stage.

UTV posted an operating profit of Rs 950.64 million from the segment, as against operating profit of Rs 537.83 million a year ago.

UTV deployed a capital of Rs 4.82 billion towards movies and posted an operating profit of Rs 950.64 million from this segment on a turnover of Rs 3.15 billion for the fiscal ended 31 March 2010.

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