Eros to pump in Rs 5 bn in FY’12

MUMBAI: Eros International plans to invest Rs 5 billion and release 75 movies in the fiscal ended March 2012, a senior official said.

The slate will have 16-20 Hindi movies while the remaining will be in other languages. The company has released 19 movies in the fiscal first-quarter.

“We intend to invest Rs 5 billion in FY‘12. Our plan is to release 70-75 films in the fiscal,” said Eros Group India chief financial officer Kamal Jain.

The pure play movie production company will be foraying into Telugu and Bengali language films. It already produces movies in Hindi, Tamil, Marathi and Punjabi languages.

“We are looking at a slate of 3-4 Punjabi movies, four Marathi movies and 1-2 Telugu movies in FY‘12,” said Jain.

Eros has eight co-productions locked for FY‘12. It will release Mausam, RA.One, Rockstar, Agent Vinod and Desi Boyz in the fiscal.

The company has planned 2-3 small movie releases with budget of less than Rs 50 million during the Indian Premier League (IPL).

“We are looking at a revenue growth of 30 per cent in FY‘12,” said Jain.

Eros had posted a consolidated revenue of Rs 7.16 billion in FY’11 and a net profit of Rs 1.17 billion.