Theme Park Report
Imagicaaworld Entertainment is targeting a 12-park outdoor portfolio by 2030 while adding indoor entertainment venues as a separate, weather-independent growth channel, according to reporting by Blooloop.
The Indian operator’s expansion strategy includes greenfield developments and acquisitions, with management describing a pace of roughly one new outdoor park per year. The company’s outdoor business is being organized into four regional catchments: Mumbai-Pune, the rest of Maharashtra, Gujarat and Central India. Its hospitality operations at the Novotel Imagica property in Khopoli will be reported separately.
Imagicaaworld has also completed an investment for a majority stake in the entity operating Shanku’s Water Park in Mehsana, Gujarat. The entity becomes a subsidiary, with consolidation effective from the current quarter.
The company’s newer indoor initiative involves an exclusive India franchise for Hello Park, a Dubai-based indoor play concept for children. Two locations have already been signed in Hyderabad and Surat. Each centre is expected to require an investment of Rs. 8-12 crore, carry a royalty of about 5 percent of revenue and generate an EBITDA margin of approximately 24-25 percent. Management expects a payback period of three to four years for the format.
The diversification push follows a quarter in which Imagicaaworld reported consolidated revenue from operations of Rs. 180.30 crore, up 19.10 percent year over year from Rs. 151.39 crore in Q1 FY26. Consolidated net profit reached Rs. 57.57 crore, compared with Rs. 44.31 crore during the same quarter a year earlier.
The results came despite an unprecedented heatwave that temporarily closed the company’s Khopoli park and affected vacation-related footfall patterns linked to the school holiday calendar. Shares reached Rs. 60.21 after PL Capital initiated coverage with a Buy rating, compared with a previous close of Rs. 50.18, according to the report.
Management said maintenance capital expenditure generally runs at 6-8 percent of revenue, while growth capital expenditure for new attractions is approximately 5 percent of topline. New outdoor parks are estimated to require Rs. 200-500 crore depending on scale, while smaller B-tier formats could cost about Rs. 150 crore on 20-25 acres. The company has expressed a preference for public-private partnership or lease-based land arrangements.
