Filmmaker Prakash Jha, well known for his hard-hitting movies such as Gangajal and Apaharan, is set to change the entertainment and retail landscape of eastern India.
P&M Infrastructures, started by Jha and another movie veteran Manmohan Shetty and Jha's friend, is planning to invest Rs 750 crore (Rs 7.50 billion) in the next five years to create family entertainment centres in Bihar, Jharkhand, West Bengal and Orissa.
The company may set up 30 such centres, which will have three cinema halls, entertainment zones, budget hotels and shopping malls, on the low-cost model. Outlets for farmers and education centres are added attractions.
The company has selected 18 properties in Bihar and Jharkhand to set up the centres. Jha hails from Bihar and his movies are known for their strong Bihari elements.
"We're targeting tier-I and tier-II cities with a population of 500,000 each," said Jha.
According to him, the first project will come up by December 2008. Apart from Adlabs founder Shetty, Jha has also tied up with Sanchojoy Investments and is negotiating with other private equity investors for capital to fund the project.
Jha has tied up with Adlabs to set up 100 screens in these states. "We also want to revive the cinema culture, which is dying there. We will tie-up with hotel operators, mall developers, and whoever is comfortable with our low-cost model."
The multiplexes will have tickets in the Rs 35-45 range and all the halls will have similar facilities except for the interiors. Hotels, food courts and malls would be made affordable to rural and semi-urban folks, said Jha.
The company has also started the Bihar Institute of Human Resource Management to train youth in mall management, mall security, hospitality and training.
