Pentasoft to replicate `Mayajaal' theme park in tier-II, III cities

Coimbatore first in list; total investments at Rs 100 cr

Growth plan

• Theme park planned in 5 centres in next 2-3 yrs.
• Also plans online services in next 9 months.
• Wants to make at least 2 animation films a year.

Coimbatore June 10 Pentasoft Technologies is in the process of redefining its growth plan. The company is not only looking to expand the reach of its technical training centres but also striving to strengthen its position in the entertainment space.

The company plans to replicate its `Mayajaal' theme park in tier-II and tier-III cities. "`We plan to launch the PentaGraphics Mayajaal theme park with multiplex in Coimbatore, Bhubaneshwar, Madurai, Hyderabad and Mysore within the next two to three years. The Coimbatore Park will come up first. We are looking for suitable land of, say, 5 to 6 acres," its CEO, Mr Hari Haran, said.

The company has estimated the total investment on the expansion plans at Rs 100 crore, and plans to raise this through private equity. Mr Hari Haran said the announcement could be expected by end-October. Its equity base at present is Rs 200 crore.

He also indicated that the company would start a Multimedia Academy at its Mayajaal campus in Chennai very soon. "The Academy has been proposed on an estimated investment of Rs 6.5 crore (excluding land cost). All the residential training programmes on animation, special effects and trend courses would be conducted here, and all franchisees would be affiliated to the Academy," he said.

Setbacks

The company, which had established a strong franchisee network in early 2000, faced a setback when the IT training institutes across the country were confronted with a crisis. The numbers slipped: from over 200 in 2001 to just over 20 at present.

It now plans to revive the tie-ups by targeting 50 this year, before taking it to its earlier level in 18 months. "We are also planning to offer online services within the next 9 months. We propose to tie-up with 400 franchisees across Tamil Nadu for growing our online services."

On production of animation movies, he said: "We have so far produced six, but are looking to produce at least two animation films every year from now. The selection of the animation movie Buddha for the Oscar this year has actually driven us to produce more such films. Ganesha is slated to be released within the next 6 months, and this would also be sent for the Oscars," he added.