Movies

Mukta Arts to pump in Rs 850 million for films in FY'09

MUMBAI: Subhash Ghai promoted Mukta Arts plans to invest Rs 850 million this fiscal.

The company has lined up four Bollywood movies during the year. The films include Ghai’s Yuvraaj which was made on a budget of Rs 500 million, Neeraj Pathak’s Right Yaaa Wrong, Manoj Tiwari’s Hello Darling and Paristosh Painter’s Paying Guest.


"We will be investing Rs 850 million in the fiscal," says Mukta Arts CEO Ravi Gupta.


Mukta Arts has already sold for Rs 650 million the distribution, TV, home video and music rights for the film Yuvraaj. While Eros has bagged the distribution and TV rights as part of a Rs 730 million three-movie deal, T-Series has got the music and Ultra the home video rights.



Mukta Arts has paid Rs 2.5 million to acquire a 51 per cent stake in Chennai-based value-added service company Coruscant Tec. "Though Coruscant is a small company, it was attractive to us because of the tie ups it has with the telecom operators. We see potential in growing this company as 3G Spectrum opens up," says Gupta.


Red Carpet, where Mukta Arts has a controlling stake, has tied up with four directors. "They are at the pre-production stage. We will make small budget movies through this company," says Gupta.

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