Adlabs Entertainment's Q3 earnings were quite lacklustre despite this being a seasonally strong quarter. In an interview with CNBC-TV18, Dhimant Bakshi, CEO of Adlabs Entertainment spoke about the results and his outlook for the company.
Adlabs Entertainment is in focus as the holiday season is well and truly upon us. In an interview to CNBC-TV18, Mayuresh Kore, CFO of the company discussed about how the demand outlook is looking like.
Q4 is generally a weakish quarter for the company because of the exam season however, Q4 of FY17 is much better and is showing almost 18-20 percent footfalls compared to last year,Kapil Bagla, CEO, Adlabs Entertainment told CNBC-TV18.
More than focusing on profits, Adlabs Entertainment would look to increase the footfalls, says Chairman Manmohan Shetty, Chairman.
Though the company saw a decline in its footfalls, realizations per user was up 21 percent, says Kapil Bagla, CEO of Adlabs Entertainment.
The special township will be built on 88 acres of the surplus land for which the company will tie up with developers, says Kapil Bagla, CEO of Adlabs Entertainment.
The expected revenue from the snow park will be around Rs 15-18 crore, and it will contribute about 25 percent to the total business, says Kapil Bagla, CEO of Adlabs Entertainment.
Kapil Bagla, CEO of Adlabs Entertainment says there was 75 percent occupancy in Novotel Imagica with an Average Revenue per Room (ARR) at Rs 5,800.
Kapil Bagla, CEO of Adlabs Entertainment says its Novotal projectâ€”theme park, along with the hotel is doing better than expected and has seen 74 percent occupancy in first two months.
The company will be opening a resort with Novotel, a brand of French hospitality major Accor Hotels near its Imagica theme-based park.
With Aquamagica contributing 40 percent to the total topline of Rs 85 crore, Kapil Bagla, CEO of Adlabs Entertainment believes it to be an ideal park for Mumbai-like climate.
Explaining as to what got them this peak of foot-falls, Kapil Bagla, CEO, Adlabs Entertainment, said â€œâ€¦ the water park which started in October in combination with the theme park as complementary to each other did very well."