UTV Motion Pictures has no fund raising plan: Kapur

MUMBAI: UTV Motion Pictures is not looking at raising further capital and is on course to reach its revenue target of Rs 4.50 billion this fiscal as it readies a few big releases including Guzaarish and Tees Maar Khan, a senior executive said.

The year has seen a string of hits including Rajneeti and I Hate Luv Storys and the company plans to have an annual release pipeline of 12 movies.

“We are pretty much well funded and have scaled up our operations. The business has reached a self-generation mode,” said UTV Motion Pictures chief executive officer Siddharth Roy Kapur.

UTV has deployed a capital of Rs 5.46 billion for movies, according to data available till 30 June 2010.

UTV has almost locked up its slate for the next fiscal. “We are sitting in a pretty position and expect to see strong growth in the next fiscal. We have only 3-4 titles to lock up. The pre-planning is well in place,” said Kapur.

Kapur expects consolidation to take place in the distribution space. “In the creative side, cost rationalization has taken place. We are seeing a strong growth in theatrical revenues due to expansion in the exhibition business,” he said.

The business model for satellite TV rights has changed this year as broadcasters are increasingly looking at acquiring exclusive movie content for telecast. “The syndication model is being thrown out of the window. Broadcasters are looking for an exclusive window for anything they acquire. It is working out good for broadcasters as well as producers,” said Kapur.

Will the success of Enthiran (The Robot) lure UTV to look more aggressively at regional movie production? "We will keep an eye on the regional movie space. We do not expect the dynamics to change much in these markets. Rajinikanth does not make movies too often and regional movies require a different sensibility. Our focus will remain on Bollywood," said Kapur.

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