Rahul Puri, MD of the company says that it has added 38 screens so far and will add another 4 in the near future.
Mukta Arts’ stock surged close to about a 50 percent this week and 65 percent in the month so far. In an interview to CNBC-TV18, Rahul Puri, MD of the company says that it is business as usual for the company and no specific news that is driving the stock up.
Discussing the business, Puri says that the company is sticking to its FY16 guidance of 50 new screens.
“We are upto 38 screens already,” he says adding that another four screens in the near future. For FY17, the company plans to add another 50 screens.
The company’s educational institute, Whistling Woods will also see uptick in revenue this year. Last year, the number of admissions was 300, which is expected to rise to 370 in this July. New admissions will add to the revenue, especially with the new degree courses, he says.
“Revenue from Whistling Woods to exceed Rs 35 crore in FY18,” Puri adds.
Below is the verbatim transcript of Rahul Puri's interview with Reema Tendulkar and Mangalam Maloo on CNBC-TV18.
Reema: When we last spoke to you, you had indicated that company has plans to target 50 screens by the end of FY16. Could you give us a check on how many have been done so far and what your target is for FY17?
A: We are up to 38 screens now and we still hold the projection of 50 screens by the end of FY16. We are still holding on to that. There are four properties that we have that literally are on the verge of opening. We are just waiting for the last licenses to come through from them. They completely finished and all the capital has been invested in those.
Bahrain which is our big property, which we hope to launch in April, that is a six screen multiplex that we will be opening. As for FY17 we hope to get up to 100 screens by the end of FY17.
Reema: Add 100 screens in FY17 or increase it by another 50?
A: We hope to get up to 100 screens by FY17.
Mangalam: The stock if you may have kept your eye out on that has surged about 65 percent in March itself, 50 percent in this week itself, is it business as usual for the company or is there any impending news that you would like to apprise us of?
A: It is very much business as usual for us. We look at the stock market from time to time but there is nothing new that I have to report in terms of the company\\'s performance. So, it is absolutely business as usual.
Mangalam: Could you also give us a sense of what the revenue expectations from whistling woods is likely to be because the last time you met us, you did indicate that you are expecting a huge bump up of revenues coming in from Whistling Woods, what is the anticipated intake for FY17, that is academic year?
A: Whistling Woods because we have added these degree courses now, last year we took in 300 students. I think that we will take in about 317 students in July across all courses. That means that the revenue for Whistling Woods will grow significantly from FY15 to FY16 to FY17.
It is only in FY15 that intake is going to peak because we have three years of the degree course intake here at Whistling Woods. At that point the revenue could be well up over Rs 35 crore.
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First Published on Mar 11, 2016 03:00 pm