Balaji Motion Pictures locks in 60-65% rev for FY19 film slate
MUMBAI: Balaji Telefilms’ movie production arm Balaji Motion Pictures has three movies lined-up for FY19. The company has locked in 60-65% revenue for the three films. Balaji will just have to recover another 35% from the box office.
The company’s movie slate comprises recently released Veere Di Weeding, Laila Majnu, and Mental Hai Kya. It has committed Rs 60 crore in production cost for these three films. It has also provisioned for another Rs 15 crore for the films.
“We have three releases this year which includes Veere Di Wedding, Laila Majnu, and Mental Hai Kya. Across these three films about Rs. 60 crore has been committed in terms of our production cost and it will take another Rs. 15 crore on P&L. I am happy to inform you that we have already locked-in 60% to 65% revenue for all these movies. We have to recover only 35% of the box office,” Balaji Telefilms Group COO Nachiket Pantvaidya told analysts during a conference call.
Balaji Motion Pictures has already released its female-led film Veere Di Wedding on 1 June. In its five day run, the movie has amassed Rs 48.03 crore with opening day collection of Rs 10.70 crore.
The film starring Sonam Kapoor, Kareena Kapoor, Swara Bhaskar and Shikha Talsania has made its way to the top five openers of 2018 and currently ranks third on the list led by ‘Padmaavat.
Going forward, Balaji Motion Pictures is also planning to explore co-production model with other leading production houses to share risks and costs and also extensively engage in presales. It will also selectively focus on content and scripts and not necessarily star cast and scale of films
Other movies in the pipeline include Laila Majnu and Mental Hai Kya. Laila Majnu is creatively supervised by Imtiaz Ali and is directed by Sajid Ali. Based on the Epic love story of Layla and Majnu, the film will feature fresh talent and is scheduled for 24 August release. On the other hand, Mental Hai Kya is a psychological thriller starring Rajkummar Rao and Kangana Raut and is directed by Prakash Kovelamudi.
During the exit quarter of FY18, the company had not released any movie however it had earned revenue on account of sale of satellite and digital rights to past movies in the library.
“We continue to remain careful and calibrated with our investments in the movie business and are only working on projects where we are able to presale significant percentage of cost even before we commission production,” Pantvaidya asserted.