With nine malls that are under various stages of construction likely to be completed by 2011 end, Entertainment World Developers Ltd (EWDL) is eyeing generating revenue income close to Rs 500 crore by 2012. The company operates through revenue share model in malls.
The Mumbai-based EWDL is into development, management and operations of shopping malls, and residential townships, under the brand name ‘Treasure’.
At present, the rental income from malls and hotels is Rs 100 crore with three malls operational — two in Indore and one in Nanded(Maharashtra).
The company also has two residential projects in Indore and Udaipur.
EWDL is developing 9 shopping malls across different tier 2 cities across India including upcoming mall at Mohali. Termed ‘Treasure Island’ the total area of the shopping mall is spread over 8 lakh square feet and it would be mix of retail and hospitality.It is likely to be completed by 2011 end.
Manish Kalani, Chairman and Managing Director Entertainment World Developers, maintained they were in advance stage of talks with some companies who would run the hotel.
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Manish Kalani, Chairman and Managing Director Entertainment World Developers, was here to participate in road show promoting Treasure Showcase.
“Treasure showcase is a concept which offers manufacturers and emerging brands to showcase their products in a modern, world class mall environment. Treasure Showcase has been successfully launched at Indore and Lucknow, and has seen 140 brands make their debut in mall retail. By 2011 end the concept would be extended to 12 malls.”
The most notable feature of ‘Treasure Showcase’ is the ‘No rent, No deposit and No maintenance’ concept.