The Hyderabad International Trade Expositions Limited (Hitex) is targeting to achieve Rs 20 crore turnover for the year 2012-13 backed by increasing occupancy rate and increasing number of events including the recently concluded 19-day UN Convention on biological diversity.
"The occupancy rate has increased to 32.7% last year from 15.3% occupancy in 2008-09, also the number of events has increased to 42 last year from 37 events in 2008-09. We expect to continue the growth both in the number events we organise every year and occupancy rate," Hitex chief operating officer K Nagendra Prasad said.
Hitex had recorded Rs 18.03 crore turnover in the last financial year, and it targets Rs 20 crore turnover for the current fiscal, he said.
We intend to add 10,000 sqm (one large hall) of air-conditioned exhibition space to its existing capacity of 10,500 sqm of indoor and 30,000 sqm of outdoor exhibition space, he added.
The revenue generation per day depends on the extent of area used and the number of days the event is organised (including event days and built-up/dismantling days), he said.
Hitex was built on a 51:49 joint venture between L&T and National Academy of Construction (NAC), Hyderabad Urban Development Authority (Huda), Municipal Corporation of Hyderabad (MCH) and the Andhra Pradesh Tourism Development Corporation (Aptdc).
The MICE industry has been growing steadily, however the same in Hyderabad has be rapid due to excellent MICE infrastructure here. Hyderabad International Convention Centre (HICC) and Hitex are located adjacent to each other offering various event combinations to organisers, he said.
The country has similar exhibition centres in different cities including the Chennai Trade Centre, Bangalore International Exhibition Centre, Karnataka Trade Promotion Organisation, Bombay Exhibition Centre, Pragati Maidan, India Expo Centre, Mahatma Mandir, etc.