### **Overview** Imagicaaworld Entertainment Ltd (BSE: 539056; NSE: IMAGICAA) is India’s leading integrated leisure and entertainment company, operating a diversified portfolio of amusement, theme, water, and devotional parks. Under the strategic guidance of the century-old Malpani Group, the company has consolidated its position as the largest amusement park operator in India, with a footprint spanning Western and Central India and ambitious plans for nationwide expansion. The company operates through its flagship brand **Imagicaa** and has recently expanded via acquisitions and public-private partnerships (PPPs), creating a multi-format entertainment ecosystem that includes physical parks, hotel hospitality, and next-generation digital-physical ("phygital") experiences. --- ### **Portfolio & Operations (Nov 2025)** - **Park Formats:** Theme parks, amusement parks, water parks, and devotional theme parks. - **Total Parks:** 8 parks across 5 locations: Khopoli (Maharashtra), Lonavala, Shirdi, Surat (Gujarat), and Indore (Madhya Pradesh). - **Rides & Attractions:** Over 150 rides and attractions, including internationally certified installations from Switzerland, the U.S., and Turkey. - **Flagship Destination:** Imagicaa in Khopoli (130 acres), India’s only all-weather, year-round integrated entertainment destination featuring: - Theme Park - Water Park - *Snomagica* – India’s largest snow park (40,000 sq ft) - *Novotel Imagicaa Khopoli* – 287-room five-star hotel - **Hotel Performance:** Novotel achieved a record 51.6% occupancy in FY24 and serves as a venue for weddings, MICE events, and social functions. - **Geographic Reach:** Strong presence in Western India, serving ~34 million people in the Mumbai-Pune corridor, ~15 million in Gujarat, and ~8 million in the Indore-Ujjain-Dewas region. --- ### **Recent Expansion & Key Projects** #### **1. Aqua Imagicaa Indore (Launched March 2025)** - India’s largest water park in Madhya Pradesh (18 acres). - Features 20+ world-class water rides, three multi-cuisine restaurants, banquet facilities, and 7 acres reserved for future expansion. - Located just 20 minutes from Indore and Ujjain; already generating strong footfall. - Expected to reach breakeven as operational leverage improves. #### **2. Sabarmati Riverfront Entertainment Hub (Ahmedabad)** - Awarded bid in March 2024 under PPP model. - 11-acre development with indoor and outdoor attractions: Ferris wheel, racing track, F&B outlets. - Environmental clearance pending; construction expected to begin H2 2025. - Total investment: ₹130 crores; operations expected within 2 years of groundbreaking. #### **3. National Expansion Strategy** - Plans to launch **one new park per year** in Tier I and Tier II cities across India. - Focus on greenfield developments and strategic partnerships. - Exploring entry into North and South India to build a pan-India footprint. --- ### **Strategic Diversification: Entry into Family Entertainment Centres (FECs)** #### **Introduction of Hello Park (via Imagicaa Next Private Limited)** - **Imagicaa Next** (wholly owned subsidiary) has partnered with **Hello Park** to bring next-gen indoor "phygital" entertainment to India. - **Hello Park** is a globally proven interactive playground model operating in over 12 countries, merging physical play with digital immersion without screens or wearables. - Uses projection-based interactivity, gamification, and an avatar platform to create immersive experiences for children and families. - Focus on **urban malls and high-footfall areas**—an asset-light model complementing outdoor parks. - Features include: - Educational play zones (problem-solving, sensory development, teamwork) - Birthday parties, workshops, family dining - Cross-promotion with Imagicaa parks to deepen customer engagement #### **Strategic Implications** - Marks **first entry into FEC segment** with scalable, urban-focused model. - Expands consumer touchpoints beyond destination parks. - Positions Imagicaaworld as a holistic family entertainment provider. --- ### **Growth Drivers & Business Strategy** #### **Revenue Diversification** - Target to reduce dependency on ticketing (currently ~65%) by growing **non-ticketing revenue** (F&B, retail, merchandise, events). - Initiatives include: - Bundled packages (tickets + hotel stays) - Dynamic pricing models aligned with festivals and holidays - Monetizing traffic via sponsorships, ride naming rights, and brand activations - Leveraging IP for consumer products, media, and entertainment #### **Customer Engagement & Retention** - Focus on **repeat visits** through: - New ride launches (e.g., trampoline park, immersive shows) - Evening entertainment (fountain shows, parades) - School outreach programs (children as brand ambassadors) - High customer satisfaction: >4/5 guest rating - Cross-selling and up-selling across park formats to enhance ARPU #### **Operational Synergies & Cost Optimization** - Consolidation of four parks (Wet’n Joy, Sai Teerth) from Malpani Group under one listed entity. - Achieved operational integration—driving efficiencies in procurement, marketing, HR, and overheads. - Cost reduction initiatives in marketing, employee costs, and corporate expenses. - Plans to reduce power costs via acquisition of a 6.65 MW solar plant in Solapur (under evaluation as of Feb 2025). --- ### **Competitive Advantages** - **High Barriers to Entry:** Large land requirements (20–50 acres), high capital intensity (₹1,000–4,000+ crores), and long gestation periods. - **First-Mover Advantage:** Established presence in Western/Central India with owned land and brand recognition. - **Integrated Model:** Combines entertainment, hospitality (Novotel), and F&B under one umbrella. - **Proprietary IP & Technology:** Customized rides themed around Indian mythology and Bollywood; digital booking and guest analytics systems. - **Strategic Locations:** Proximity to high-spending urban populations with excellent connectivity. --- ### **Financial & Operational Highlights** - **Annual Footfall:** ~2.8 million visitors post-acquisition (doubled from pre-consolidation levels). - **Revenue:** Over ₹400 crores (estimated), with EBITDA exceeding ₹175 crores. - **Revenue Mix (FY24):** - 65% from ticketing - 35% from non-ticketing (F&B, retail, sponsorships, events) - **Occupancy (Novotel):** 51.6% in FY24; ARR (Average Room Revenue) >₹10,645 (inclusive of F&B and other revenue). --- ### **Funding & Capital Structure** - Secured shareholder approval for **₹600 crore Qualified Institutional Placement (QIP)** in Sep 2024. - Proceeds to fund: - Recent park acquisitions (₹630 crore for four operational parks) - Indore water park completion - Sabarmati Riverfront project - Funding mix: Internal accruals, debt, and equity financing. --- ### **Sustainability & ESG Initiatives** - Investments in solar power (existing captive solar projects within group; proposed acquisition of 6.65 MW plant). - Water harvesting and conservation measures across parks. - Commitment to environmentally responsible development at Sabarmati and Indore sites.