Latest news with #PrimeFocus
Business Standard
28-05-2025
- Business
- Business Standard
Prime Focus reports consolidated net loss of Rs 230.97 crore in the March 2025 quarter
Sales rise 12.05% to Rs 967.25 crore Net Loss of Prime Focus reported to Rs 230.97 crore in the quarter ended March 2025 as against net loss of Rs 60.35 crore during the previous quarter ended March 2024. Sales rose 12.05% to Rs 967.25 crore in the quarter ended March 2025 as against Rs 863.24 crore during the previous quarter ended March 2024. For the full year,net loss reported to Rs 377.11 crore in the year ended March 2025 as against net loss of Rs 404.54 crore during the previous year ended March 2024. Sales declined 9.98% to Rs 3537.91 crore in the year ended March 2025 as against Rs 3930.05 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 967.25863.24 12 3537.913930.05 -10 OPM % 24.004.82 - 22.226.43 - PBDT 248.63-2.70 LP 474.74-88.36 LP PBT 122.83-115.80 LP -30.56-586.71 95 NP -230.97-60.35 -283 -377.11-404.54 7
Indian Express
02-05-2025
- Business
- Indian Express
WAVES 2025: Country's first campus for foreign universities; CIDCO to set up Edu City in Navi Mumbai
Chief Minister Devendra Fadnavis on Friday announced that the City and Industrial Development Corporation (CIDCO) will set up an Edu City in Navi Mumbai, which will be the country's first educational campus for foreign universities. Two MoUs — Rs 1,500 crore each — were signed with foreign universities at the WAVES summit. 'CIDCO signed an agreement worth Rs 1,500 crore with University of York from the UK and another MoU worth Rs 1,500 crore with Western Australia University. These universities will set up their off-shore campuses in Navi Mumbai,' said Fadnavis. He added that discussions with three other prominent universities was complete and UGC clearance was awaited. 'In addition five more universities have held primary talks. We are setting up the country's first educational campus with foreign universities in Navi Mumbai and two MoUs were signed today,' he said. Fadnavis added that another MoU with Prime Focus was signed for setting up a new Film City, which will give direct jobs to 2,500 people and indirect jobs to over 10,000 people. 'It (Film City) will be AI-powered and the best in the world. The world's most expensive and technologically advanced films can be shot here. Similarly, Godrej too is setting up its Film City in Panvel and an MoU worth Rs 2,000 crore has been signed,' he said, adding that it will create jobs in large numbers. These MoUs on niche areas will have a multiplier effect, he said. 'Nowadays, Film City is not about location but about technology. It will have an eco-system for shooting to post-production,' he said, adding that Mumbai has become the undeclared capital of audio-visual technology. Prime Focus said it will invest Rs 3,000 crore to develop a new global entertainment destination in Mumbai for content creators, tourists and fans. 'This new site will be a best practice example of what India can deliver in technology, creativity and entertainment, and will become a worldwide leisure destination, right at the heart of one of the world's oldest filmmaking industries,' Prime Focus Group founder Namit Malhotra said. Later, speaking at the Studio and Technology Roundtable, Fadnavis said the new eco-system of entertainment and film industry is being created in Navi Mumbai and the government has identified a few locations along the Nagpur-Mumbai Samruddhi Expressway. 'We are absolutely open to the idea of global theme park. This is the idea behind creating the third Mumbai. We need a global theme park,' said Fadnavis, reacting to suggestions from earlier discussions of industry players. Commenting on the state's AI policy, Fadnavis said Maharashtra's AI policy will be out in the next one month. The CM also appreciated the suggestions on digital identity registry. 'Maharashtra can be the first state in this. This is like creating IP of digital identity… the future is digital identity,' he said. Fadnavis also mentioned that the new IICT will be developed in collaboration with IIT–Mumbai. Chief Minister Devendra Fadnavis informed that NSE has started a WAVES index involving 43 audio-visual technology companies. This is an important step to create an eco-system for investment in the field, he said.
Business Mayor
02-05-2025
- Business
- Business Mayor
Prime Focus to set up global entertainment destination in Mumbai with Rs 3,000 crore investment
Prime Focus Group, a leading independent integrated media services powerhouse, in collaboration with the Government of Maharashtra, said it will develop a new global entertainment destination at the heart of India's filmmaking industry in project includes a proposed investment of Rs 3000 crore to create the world's most technologically advanced and digitally connected content creation ecosystem. This ambitious development will position Mumbai as a global hub for content creators and entertainment enthusiasts, while also serving as a magnet for both domestic and international tourism. Designed as a multi-year initiative, the new hub will feature world-class production studios equipped with state-of-the-art digital infrastructure to support high-end content creation. It will also offer live entertainment facilities, theme parks, and immersive experience centres. In addition to its entertainment offerings, the destination will include lifestyle components such as shopping and dining areas, luxury hotels, and residential accommodations. The investment is expected to create thousands of highly skilled jobs and support the development of a sustainable, modern infrastructure. Prime Focus, established in 1997 by founder Namit Malhotra and listed on both the National and Bombay Stock Exchanges of India, is the parent company of the Prime Focus Group. The Group includes eight-time Academy Award-winning visual effects and animation company DNEG, AI technology company BRAHMA, and content financing and production company Prime Focus Studios. The Group already owns and operates one of Asia's largest production facilities in Mumbai, which includes eight Hollywood-designed soundstages within a 200,000 square foot studio complex. Its post-production facilities, including DNEG Mumbai, are located on the initiative, Devendra Fadnavis, Chief Minister of Maharashtra, stated: 'Growth, infrastructure development, and a sustainable future are all vital to the development of Maharashtra. As we continue to lead the way in massive infrastructure projects—including the Mumbai-Ahmedabad bullet train, the coastal road, and the Vadhvan Port—I am glad to add the creation of this next-generation entertainment hub to the list of projects that are transforming our state, keeping us at the forefront of India's growth and development. I look forward to working with Prime Focus and DNEG to create a world-class production and tourism destination, securing Mumbai's position as a filmmaking and entertainment centre of excellence.'Prime Focus Group Founder Namit Malhotra added, 'My vision for this development, which is shared by the Honourable Chief Minister Mr. Devendra Fadnavis, is to honour the 100+ year legacy of our world-renowned movie industry by bringing together the combined might of the Prime Focus Group companies—including DNEG's Oscar-winning creativity, Brahma's AI technology, and Prime Focus Studios' financing and production capabilities—to build the world's most advanced and innovative centre of excellence for the creation of content, right at the heart of our filmmaking heritage, here in Mumbai.'
Hindustan Times
02-05-2025
- Business
- Hindustan Times
Prime Focus to invest ₹3,000 crore for 200-acre 'film city' in Mumbai
Prime Focus on Friday announced a ₹3,000 crore investment to set up a 'film city', housing an entire ecosystem related to entertainment. The BSE-listed entertainment company signed a memorandum of understanding with the Maharashtra government to create the facility, which has the potential to create up to 2,500 jobs, on the sidelines of the ongoing WAVES 2025 event in Mumbai. The group plans to invest ₹3000 crore in this project, with an aim of creating thousands of skilled jobs and attracting tourists and content creators from around the world. The announcement was met with enthusiasm from Maharashtra Chief Minister Devendra Fadnavis, who framed the initiative as part of the state's broader infrastructure push. 'Growth, infrastructure development, and a sustainable future are all vital,' he said, adding the project would complement existing mega-developments like the Mumbai-Ahmedabad bullet train and Vadhvan Port. 'Growth, infrastructure development, and a sustainable future are all vital to the development of Maharashtra. As we continue to lead the way in massive infrastructure projects — including the Mumbai-Ahmedabad bullet train, the coastal road, and the Vadhvan Port — I am glad to add the creation of this next-generation entertainment hub to the list of projects that are transforming our state, keeping us at the forefront of India's growth and development," he said. CM added, "I look forward to working with Prime Focus and DNEG to create a world-class production and tourism destination, securing Mumbai's position as a filmmaking and entertainment centre of excellence.' • High-tech production studios with strong digital infrastructure for top-quality content creation • Live entertainment venues, theme parks, and interactive experience centres • Lifestyle and leisure spaces such as shopping areas, restaurants, hotels, and residential spaces Also Read: HC gives Maharashtra a week to finalise child safety norms in schools Prime Focus, founded in 1997 by Namit Malhotra, is the parent company of several top businesses including DNEG (which has won eight Oscars for visual effects), the AI tech company BRAHMA, and Prime Focus Studios, which handles production and financing. The company already owns one of Asia's biggest studio spaces in Mumbai, with eight Hollywood-style soundstages and top-level post-production facilities. The proposed hub is nothing if not ambitious: a next-generation space boasting high-tech production studios, live entertainment venues, interactive experience centres, and a range of leisure options including restaurants, hotels, and residential units. In essence, a self-contained entertainment city within Mumbai - India's film capital and long-standing home to the Bollywood machine. Malhotra cast the development as a patriotic and strategic project. 'We are not just developing the world's foremost content creation centre; we are creating a destination that presents India's culture, our history, and our capabilities to the world,' he said. His remarks were steeped in legacy talk — honoring more than a century of Indian cinema while pitching the venture as a model of innovation and soft power. If all goes to plan, the site could become a magnet for content creators, tech innovators, tourists, and global investors. The project is expected to begin soon and will play a big role in making Mumbai a global hub for media, entertainment, and tourism.
Time of India
02-05-2025
- Business
- Time of India
Prime Focus to set up global entertainment destination in Mumbai with Rs 3,000 crore investment
Prime Focus Group , a leading independent integrated media services powerhouse, in collaboration with the Government of Maharashtra, said it will develop a new global entertainment destination at the heart of India's filmmaking industry in Mumbai. #Pahalgam Terrorist Attack Pakistan reopens Attari-Wagah border to allow stranded citizens in India to return Key Jammu & Kashmir reservoirs' flushing to begin soon Air India sees Pakistan airspace ban costing it $600 mn over 12 months The project includes a proposed investment of Rs 3000 crore to create the world's most technologically advanced and digitally connected content creation ecosystem . This ambitious development will position Mumbai as a global hub for content creators and entertainment enthusiasts, while also serving as a magnet for both domestic and international tourism. Designed as a multi-year initiative, the new hub will feature world-class production studios equipped with state-of-the-art digital infrastructure to support high-end content creation. It will also offer live entertainment facilities, theme parks, and immersive experience centres. In addition to its entertainment offerings, the destination will include lifestyle components such as shopping and dining areas, luxury hotels, and residential accommodations. The investment is expected to create thousands of highly skilled jobs and support the development of a sustainable, modern infrastructure. Prime Focus, established in 1997 by founder Namit Malhotra and listed on both the National and Bombay Stock Exchanges of India, is the parent company of the Prime Focus Group. The Group includes eight-time Academy Award-winning visual effects and animation company DNEG, AI technology company BRAHMA, and content financing and production company Prime Focus Studios . Live Events The Group already owns and operates one of Asia's largest production facilities in Mumbai, which includes eight Hollywood-designed soundstages within a 200,000 square foot studio complex. Its post-production facilities, including DNEG Mumbai, are located nearby. Commenting on the initiative, Devendra Fadnavis, Chief Minister of Maharashtra, stated: 'Growth, infrastructure development, and a sustainable future are all vital to the development of Maharashtra. As we continue to lead the way in massive infrastructure projects—including the Mumbai-Ahmedabad bullet train, the coastal road, and the Vadhvan Port—I am glad to add the creation of this next-generation entertainment hub to the list of projects that are transforming our state, keeping us at the forefront of India's growth and development. I look forward to working with Prime Focus and DNEG to create a world-class production and tourism destination, securing Mumbai's position as a filmmaking and entertainment centre of excellence.' Prime Focus Group Founder Namit Malhotra added, 'My vision for this development, which is shared by the Honourable Chief Minister Mr. Devendra Fadnavis, is to honour the 100+ year legacy of our world-renowned movie industry by bringing together the combined might of the Prime Focus Group companies—including DNEG's Oscar-winning creativity, Brahma's AI technology, and Prime Focus Studios' financing and production capabilities—to build the world's most advanced and innovative centre of excellence for the creation of content, right at the heart of our filmmaking heritage, here in Mumbai.'
