Television

HDIL Ent gets plex urge

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2015/08/29/box.jpg?itok=z7kKg76b

KOLKATA: HDIL Entertainment, the 100 per cent subsidiary of the Mumbai-based real estate company, Housing Development and Infrastructure (HDIL), plans to have 70 multi-screen plexes pan India in the next couple of years. For setting up the cinema screens, the company has earmarked an investment of Rs 55 crore. The company's multiplexes operate under the brand name - Broadway.

HDIL Broadway CEO Mukesh Gupta is optimistic that both West Bengal plexes

will be operational before Durga Puja

HDIL Entertainment which reported a turnover of Rs 45 crore in the last fiscal of 2012-13, is aiming at notching up Rs 75 crore - Rs 80 crore by the end of the current fiscal 2013-14.

In West Bengal, the company has signed a deal with mall developers for a four-screen plex Broadway at Asansol and three-screen plex at Durgapur.

It is learnt that it will go for a lease agreement with Bengal Shristi for the Duragapur screens. Apart from this, it is looking at Burdwan and central Kolkata for expansion and Guwahati would be the preferred next destination in the eastern region. "Both the West Bengal plexes are slated to be operational before Durga Puja," HDIL Broadway CEO Mukesh Gupta told indiantelevision.com.

"By the month of October 2013, we plan to start 14 screens pan India and the total number of screens would be 35 by this year end. By the end of next year 2014, we are aiming at 70 multi-screen plexes," he highlights.

Of the Rs 55 crore investment needed, Rs 20 crore will be from internal accruals while a bank loan would account for Rs 35 crore, says Gupta.

Broadway has around 14 operational plexes in Mumbai and four each in Kolkata and Indore. "We plan to open four screens at Kolkata, three in Delhi and two more in Mumbai by the end of the year," the CEO says.

It is interesting to note that two years ago the company planned to open around 120 multi-screen plexes by 2016 using the ownership model at an investment of Rs 450-500 crore. "Seeing the slow growth and not so conducive economic sentiment, we are looking at 120 screens in next three years to four years on a lease basis," explains Gupta.

HDIL Broadway has a four- screen multiplex, spread over 30,000 square feet and with a sitting capacity of 799 people in the city of Kolkata at present. Tickets are priced between Rs 150-Rs 200.

Talking about the occupancy rate in Kolkata, he said the average occupancy rate is 48-52 per cent while "there are days like last week when the cinema halls were flooded with good movies, it was around 78 per cent also," he says.

"We have capitalised on the Salt Lake late-night movie-watching crowd and also the EM Bypass, Phoolbagan and Kankurgachi cinegoers in Kolkata," reveals Gupta.

Without giving much detail, Gupta said Broadway would soon open in central Kolkata.

HDIL Entertainment is keen to tap the south market also for Broadway expansion, says Gupta.

HDIL, the parent of HDIL Entertainment, was in the news recently for not paying interest arrears on a loan taken by it from Indiabulls Housing Finance, which it later paid up. Its share price dropped on the bad press.

After a long consolidation of one and a half years, the HDIL share price broke out of the range, says Dhanpurna Commodities research head Puneet Rathi. "Falling below Rs 100 levels in January 2013, reflect a continuation of down trend in stock. After touching a bottom of Rs 26.1 on 6 August 2013 it bounced back on low volume," he said.

It is currently trading in the Rs 30 plus range.

On Wednesday afternoon, the scrip was trading at Rs 32.85, up 0.61 per cent.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/07/Ary-news.jpg?itok=iSuCoqa2
ARY News asked to pay INR 1.58 cr to Geo TV as compensation

MUMBAI: A legal rift raging between two big media groups in Pakistan -- ARY News and Geo TV -- settled recently in a British Court. ARY News lost the legal battle and will have to pay approximately INR 1.58 crore compensation to Geo.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/07/star-sports.jpg?itok=E4E8tvl_
Star Sports continues to make cricket bigger; India-NZ ODI series highest rated bilateral ODI series in three yrs

MUMBAI: Star Sports builds cricket further and strengthens its popularity at a pan-India level making the India-NZ ODI series as the highest rated bilateral ODI series in the last three years.

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/07/STAR-PLUS-800x800.jpg?itok=4RCO6PQf
Star Plus gears up for 'Dil Hai Hindustani' launch in January

MUMBAI: After launching P.O.W, Star Plus is geared up to launch its yet another grand singing reality show "Dil Hai Hindustani." Though the channel has not officially announced the launch date, but the show is slated to go on air by January 2017, and will be replacing Masterchef India at 8pm time...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/06/steve1.jpg?itok=Z86RBizl
MN+ celebrates Steven Soderbergh this month!

MUMBAI: 'Director's Cut', the flagship property of MN+, is preparing to treat its viewers with an exhilarating line-up of gold class Hollywood movies by the Oscar Award winning director 'Steven Soderbergh'. The ongoing property will air some of the finest works of Steven from 10 December, 2016,...

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/06/Dance%20Singapore%20Dance_0.jpg?itok=m5uCpty4
Sheriden, Sufri emerge winners of Dance Singapore contest

MUMBAI: The second season of Dance Singapore Dance on Zee TV APAC comes to an end with a spectacular grand finale. Sheriden Newman, 29, danced her way to victory after emerging as thewinner of Season 2. Sheriden, 29, a dance graduate from Queensland University of Technology outperformed over 200...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/06/Discovery-800x800.jpg?itok=zedEwSn7
Discovery's 'Jawai: India's Leopard Hills' wins at Asian Television Academy

MUMBAI: Discovery India’s production Jawai: India’s Leopard Hills has won the Best Natural History / Wildlife Programme at the prestigious Asian Television Academy Awards 2016, held in Singapore. Produced by Robin Roy Films, Jawai: India’s Leopard Hills combines state-of-the-art technology and...

Television TV Channels Factual & Documentary
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/06/NaomiCampbell-800x800.jpg?itok=R2oPtlGa
Fox Life brings supermodel Naomi Campbell in 'The Face' series

MUMBAI: Fox Life is all set to become the latest destination for high fashion as it launches a thrilling reality TV series The Face. The show is filled with passion and race to win which has never been seen with this intense and real before. The series began on 5 December and airs every Monday and...

Television TV Channels Specialised and Niche
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/06/Niharika_0.jpg?itok=aaA4Ozxj
Star Suvarna to air new show ‘Niharika’ from 12 Dec

MUMBAI: Star Suvarna is all set to air its new show Niharika. A new concept which is not just a “Atte-Sose” (Kannada) or a kitchen drama. Starting from 12 December, the show will be aired at 8pm time slot.

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/06/Pankaj-Raghav.jpg?itok=m17NTSIr
Cracking Chrome DM-Da Vinci code as legalities take over

MUMBAI:  When business partners --- erstwhile or otherwise--- part ways acrimoniously, dirty linen gets washed in public. Almost a year after parting ways, Da Vinci Learning (DVL) TV channel, through its Indian JV partner Quintillion Media Pvt. Ltd, has served a breach of contract notice to...

Television TV Channels Kids

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories