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MUMBAI:
Hyderabad-based DQ Entertainment expects to complete 40 projects
worth approximately $94.6 million for various international
production houses over the next three years.
The
order book is spread across DQ's 80 customers and includes
amounts already billed in the current financial year.
"DQ
is under contract or in advanced negotiations to complete
40 projects predominantly over the next three years, worth
approximately $94.6 million," says a source.
DQ
Entertainment has already contracted approximately $20.3 million
of revenues for the year ending 31 March 2008 while $2.9 million
are under serious negotiations.
For
the fiscal ending March 2009, DQ has signed contracts worth
$19.9 million and is in advanced negotiations for further
$14.5 million.
In
2009-10, DQ has a signed billing pipeline of $10.1 million,
while $26.9 million is under negotiations.
DQ
Entertainment, which services clients like Walt Disney TV,
Marvel, BBC and Nickelodeon, recently raised $56 million through
its listing on the Alternative Investment Market (AIM) of
the London Stock Exchange (LSE). This is the first animation
company from India to be listed on the LSE. The proceeds will
be used for expansion of production facilities in India, more
sales and distribution network worldwide, direct and co-investment
in IPR's global partnerships, immediate European acquisitions
and joint ventures.
As
first reported by Indiantelevision.com, DQ Entertainment
is setting up a 50:50 joint venture with Telegael Teoranta,
a company in Ireland that specialises in pre-production and
post production services.
DQ
already has a 51:49 per cent joint venture with France's animation
powerhouse Onyx Films to produce high-end CGI feature films.
It is also acquiring up to 20 per cent stake in Method Films,
a sister concern of Onyx.
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