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Annapurna expands studio with Rs 100 cr

Source : BUSINESS_STANDARD
Last Updated: Sun, Apr 15, 2012 20:51 hrs

Annapurna Studios, promoted by veteran Telugu film actor Akkineni Nageshwara Rao and his son Nagarjuna, has invested Rs 100 crore to develop 100,000 sft of five new large-format, fully air-conditioned shooting floors at its 22-acre studio in Banjara Hills. The expansion takes the total number of studio facilities at Annapurna to 10, making it the largest in Asia.

The new ‘concept-to-can’ facilities with climate-control shooting floors were built alongside fully-equipped makeup rooms with five-star luxury, dance rehearsal facility and canteens. The new facilities, which will provide shooting stages ranging in the size from 10,000 sft to 15,000 sft, besides offering outdoor film facilities and back lots, will open their doors for film makers shortly.

“For 30 years, Annapurna Studios has been intrinsically involved in the film industry. Our investment in the studio further demonstrates our long-term commitment to develop film production ecosystem in this region,” Nagarjuna, managing director of the studio, said in a press release on Saturday.

According to him, the non-profit film school, started by the studio within its premises, has trained more than 100 students in the first year and has provided placement for all of them in the industry. “A large space is being created in the studio premises for the school and we are planning long-term courses in the coming academic year,” he said.

Annapurna Studios has produced over 40 motion pictures and served several television serials, infomercials, television commercials and documentaries produced by leading broadcasters. It has strategic partnerships with global players like Reliance Media Works, SGO-Spain and Light Illusion-UK.

The Indian film industry is estimated to grow from the current Rs 8,300 crore to Rs 13,200 crore by 2015, according to a Ficci-KPMG report. Annapurna’s strategies are aligned to tap this growing potential in a big way as the studio capacity in India is far from demand, the release added.




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