MUMBAI: Pearl Broadcasting Corporation has invested close to Rs 400 million in P7 News and is set to formally launch the Hindi news channel in Mumbai on 23 September.

P7 has already signed up major cable networks including Incablenet, Hathway Cable & Datacom, Scod18 and Wire & Wireless India Ltd (WWIL).

"Our investment so far has been close to Rs 400 million (barring distribution). For Mumbai, we are spending around Rs 50 million for distributing the channel on cable networks. We have already signed annual deals with the the major cable networks in Mumbai," Pearl Broadcasting director Jyoti Narain tells Indiantelevision.com.

Launched on 27 March in Delhi, the channel is already available in other Hindi speaking markets. "We have spent around Rs 80 million on distribution. We are available in the states including Madhya Pradesh, Chhattisgarh, Uttar Pradesh and Gujarat. We recently signed a deal with Gujarat Telelink Private Ltd (GTPL)," avers Narain.

The free-to-air (FTA) channel is also available on Essel Group’s direct-to-home (DTH) company Dish TV and DD Direct Plus.

With the tagline ‘Ek Umeed’ (a ray of hope), the channel has a staff count of 375 across 11 bureaus. The channel has six OB-vans for news gathering and an association with 600 stringers across the nation for news.

“It is a very competitive space. We can't compromise on content. Our focus is on social and developmental stories across the country,” adds Narain.

With the Mumbai launch, the channel will have a new look and feel as new segments will be added. At present, P7 News runs over 20 news-based supplements in weekdays, while it picks up social issues and campaigns on weekends.

Within six months of launch, the channel has roped in advertisers like Coca-Cola, Bata, and Morepen apart from a clutch of real estate companies.

Pearl Group has a wide array of business interests spanning real estate, tourism, TV & film production and print publication.