Financial Daily from THE HINDU group of publications
Thursday, May 06, 2004
K Sera Sera hopes to triple turnover to Rs 75 crore
Mumbai , May 5
K SERA Sera Productions Ltd is expecting to triple its turnover to Rs 75 crore during the current fiscal from Rs 24 crore the previous year, mainly by scaling up its productions.
The company plans to release six to eight films this fiscal and 10-12 films during 2005/2006. Last year, three films were released. It had ended the year in March 2004 with a net profit of Rs 3.57 crore.
At the same time, it is increasing its exposure in television software production. K Sera Sera is looking at five to six serials - two of them weekly shows and the others daily shows. It has tied up for weekly and daily shows with Sahara Manoranjan and is in talks with Zee TV and Sony for more shows.
The company's decision to go in for television software production is primarily to ensure a steady flow of revenue. These shows, once on air, will change the revenue mix of 95 per cent from films to 80 per cent. The rest will be from television content.
``This does not mean our film business will take less precedence. Our film business will continue growing but on a larger base, with increased focus on television, the mix would seem to reduce from our film business,'' said Mr Parag Sanghavi, Managing Director, K Sera Sera.
K Sera Sera plans to scale up television business and bring it to 50 per cent of revenue mix by 2006, he said.
The first film release in the current fiscal will be Gayab starring Tusshar Kapoor and Antara Mali, slated for a June release. ``Chances for this film appear bright,'' Mr Ash Pamani, Chairman, K Sera Sera, said.
Murder at Srikrishna Building, which will have two versions, will be released in July/August 2004; followed by Naach, slated for an August/September release. Gayab is a project worth Rs 8 crore - Rs 9 crore and while Murder will be between Rs 7 crore and Rs 8 crore.
``We have been carrying out intense pre-production homework with the aim of reducing our costs considerably and derisking changes of overbudgeting and overscheduling,'' Mr Pamani said.
The company is looking at debt for funding a portion of its films. The company has raised a debt of Rs 1 crore for the film Gayab from Canara Bank at one percentage point higher than its Prime Lending Rate (PLR). The company is also looking to build its overseas revenues from release of films through theatres and DVDs. It has set up a New York office; plans to set up offices in London and Hong Kong later. Apart from overseas distribution, it is also planning to increase its reach in the domestic market.
As of now K Sera Sera has covered 70 per cent of Indian territories.
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