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Apr 11, 2007, 08.04 PM IST | Source: Moneycontrol.com

Prime Focus expands India operations

Prime Focus expands India operations

Prime Focus (BSE: PFOCUS), India’s leading integrated end-to-end post production and visual effects house, today announced the official launch of its fourth India facility at Chennai. With the South Indian film industry accounting for over 50% of India’s film production, this facility will cater to the post production and visual effects needs of the Chennai market.

 

The Chennai facility is the company’s fourth in India and Prime Focus has invested a total of Rs. 12 crores in the 5000 Square Feet, 55 artist set-up. Equipped with state-of-the-art post-production and visual effects technologies including one high end Thomson Spirit 4K Scanner, DaVinci  2K Plus Colour Grader, two Autodesk Lustre Film Grading Systems, two Autodesk Smoke Finishing Systems, four Avid Film Editing Systems and a Film Recorder. The Chennai facility will help the company to tap the growing Tamil film market.

 

The Tamil film industry or ' Kollywood ' is the second largest film industry in India and one of the most successful. According to industry estimates more than 135 Tamil movies were made in 2006. Tamil films are popular the world over including in countries like Sri Lanka , Singapore , Japan , Malaysia , United Kingdom , Canada , South Africa and United States . They also get dubbed into other languages like Telugu, Hindi, thus reaching a much wider audience. Additionally several Malayalam and Kannada films are created in Chennai as well. Also, the 2006 success of big budget films such as ‘Dishoom’, ‘Jillini Oru Kaadal’, ‘Godfather’ etc. has spurred a boom among producers to make similar big budget extravaganzas costing anywhere between Rs. 15 crores to Rs. 40 crores.

 

Commenting on the facility inauguration, Mr. Bhaarath Sunder, Chief Executive Officer, Prime Focus Limited, said, “The Chennai film and advertising industry is among the most evolved in India and our Chennai facility is expected to leverage these local market dynamics in order to grow Prime Focus’ business as well as allow the company to have a wider pan-India foot print.”

 

Says Mr. Amit Gupta, Director – Corporate Development, Prime Focus Limited, “Prime Focus is India’s largest media technology company with a focus to expand our footprint in the local and global markets. The acquisition of VTR in London and the Chennai facility launch is in line with these growth plans. These facilities will provide us with inroads to tap a large market for international and domestic post production and visual effects work. Clearly our creativity and domain expertise and extensive offerings will help us penetrate deeper into these key markets going forward”

  

Sourced From: Text 100 Public Relations Consultancy

Prime Focus stock price

On October 23, 2014, Prime Focus closed at Rs 48.35, up Rs 0.05, or 0.10 percent. The 52-week high of the share was Rs 58.35 and the 52-week low was Rs 23.75.


The company's trailing 12-month (TTM) EPS was at Rs 2.56 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 18.89. The latest book value of the company is Rs 25.55 per share. At current value, the price-to-book value of the company is 1.89.

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