Soon after Mukta Arts stepped in to pick up
a majority stake, Red Carpet Films has sealed
a four-movie deal with Eros. Being medium budget
projects, the total investment is expected to
be around Rs 400 million.
production cost of these four mid-budget films
would be around Rs 400 million. We expect to
complete them in a year's time. The first to
come on floor will be in the next six months.
," Mukta Arts CEO Ravi Gupta tells Indiantelevision.com.
Carpet Films will produce the four films which
are to be financed and distributed by Eros Multimedia.
"We also have a profit sharing arrangement
with Eros across all the revenue streams,"
Arts recently acquired a 50.01 per cent stake
in Red Carpet Films, a newly started movie company
by Manish Goswami, for Rs 2,50,470.
acquired a stake as Red Carpet Films had funding
and distribution in place with Eros. We can
increase the bandwidth of our production capability
through this joint venture company. The Eros
deal means that Red Carpet Films will have a
film project every quarter," says Gupta.