Adlabs to open 2 more theme parks in India in 3-5 yrs

Company is expected to clock turnover of Rs 240-250 cr this fiscal year, upfrom Rs 190 crore previous year

Adlabs Imagica, part of Adlabs Entertainment (AEL), plans to open two more theme parks in northern and southern regions of the country in the next three to five years.

The company operates a theme park and a hotel on the Mumbai-Pune expressway.

"Three markets have potential for theme parks-- Western, North and South-- in India. Apart from our theme park near Mumbai, we are looking at opening theme park in Delhi NCR area in North and Hyderabad or Bangalore in South India in 3-5 years. It is in planning stage," Adlabs Entertainment CEO and Director Kapil Bagla told PTI

Bagla said the company is also working on expanding attractions in its existing park.

"We want to promote our property as a large multi-days holiday destination. In addition to water park and rides park, we will add snow park and adventure in this calender year. Fiscal 2016-17 is the first year when all the elements of theme park will be operational," he added.

The company is expected to clock turnover of Rs 240-250 crore in the current fiscal year as against turnover of Rs 190 crore in the previous financial year.

Adlabs Imagica will also add 171 rooms to its hotel --Novotel Imagica Khopoli-- in this calender year, which at present offers 116 rooms.

Adlabs Entertainment had raised over Rs 350 crore from initial public offer in March last year.