Mumbai: The Malpani Group, a prominent diversified business house based in Sangamner, Maharashtra, is undertaking a significant expansion of Imagicaaworld Entertainment, a leading player in India's entertainment sector. The group, which acquired Imagicaaworld in June 2022, is set to reshape the landscape of theme parks in India with ambitious plans for growth and consolidation.

Expansion Strategy

The Malpani Group has unveiled a robust expansion strategy for Imagicaaworld Entertainment. Jai Malpani, Managing Director of the company, announced that the group plans to add one new theme park every year for the next five years. This expansion will include a mix of large parks in tier-1 cities and smaller parks in tier-2 cities, integrating both water and amusement features.

Malpani highlighted that the cost of setting up each new park ranges between ₹150 crore and ₹450 crore. The group is in the process of raising ₹600 crore to support this expansion. With a solid presence in western India, Malpani Group is now focusing on central and northern India, aiming to tap into the significant market potential in these regions.

Recent Developments and Investments

Since acquiring Imagicaaworld, the Malpani Group has invested ₹25 crore in enhancing existing parks by adding new slides and attractions. The consolidation of existing water parks, including Wet’nJoy and Sai Teerth, under the Imagicaa brand has been a key development this fiscal year. Additionally, the group has acquired Surat’s Amaazia Water Park from the Rajgreen Group.

Currently, the group owns 74% of Imagicaaworld Entertainment, which now includes seven operational parks, a Novotel hotel, and an 11-acre land parcel at the Sabarmati riverfront in Ahmedabad for a new park development. An upcoming park in Indore, Madhya Pradesh is projected to cost under ₹200 crore.

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Revenue and Financial Goals

The Malpani Group has set ambitious revenue goals for Imagicaaworld Entertainment. The company aims to achieve ₹400 crore in revenue and ₹175 crore in EBITDA for FY25, representing a substantial 75% increase over the previous fiscal year.

Public-Private Partnerships and Future Outlook

Looking ahead, the Malpani Group is exploring a public-private partnership (PPP) model. This model could involve state governments offering incentives and long-term leases at favorable prices, which could benefit both the group and the local communities.

Malpani emphasized that the group’s 3C strategy—focusing on urban clusters, catchment expansion, and connectivity—aligns with India's evolving economic landscape. The group aims to double its footfall through cross-park engagement and increase revenue and profitability by leveraging cost synergies.

Conclusion

With its ambitious plans for expansion and consolidation, the Malpani Group is positioning Imagicaaworld Entertainment as a leading entertainment destination in India. The focus on growth, innovation, and strategic partnerships reflects the group’s commitment to enhancing the country’s theme park landscape and meeting the evolving needs of families and tourists.

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