Stock Report

Prime Focus Group Strikes Deal with Government of Maharashtra to Develop a New Global Entertainment Ecosystem in Mumbai

Posted On : 2025-05-03 11:43:01( TIMEZONE : IST )

Prime Focus Group ('the Group'), the world's largest independent integrated media services powerhouse, announced today that it has entered into an Memorandum Of Understanding with the Government of Maharashtra to develop a new global entertainment destination at the heart of India's filmmaking industry in Mumbai.

The Memorandum Of Understanding proposes an investment of 3000crs (approximately $400m USD) in the development of a new entertainment ecosystem, creating a unique destination for content creators, tourists, and fans of entertainment from all over the world, and creating thousands of highly skilled jobs in the region.

Prime Focus, established in 1997 by founder Namit Malhotra and listed on both the National and Bombay Stock Exchanges of India, is the parent company of the Prime Focus Group, which includes eight-time Academy Award-winning visual effects and animation company DNEG, AI technology company BRAHMA, and content financing and production company Prime Focus Studios.

The facilities proposed for the new site include:

- world-class production studios to facilitate high-end content creation, supported by a state-of-the-art digital infrastructure

-creation of a worldwide entertainment destination, with live entertainment facilities, theme parks, and experience centres

- and lifestyle experiences, including shopping and dining destinations, top-flight hotels, housing, and more.

The Prime Focus Group already owns and operates one of Asia's largest production facilities in Mumbai, including eight Hollywood-designed soundstages in a 200,000 square foot studio complex. The Group's post-production facilities, including its DNEG Mumbai studio, are located nearby.

The Honourable Mr. Devendra Fadnavis, Chief Minister of Maharashtra said, "Growth, infrastructure development, and a sustainable future are all vital to the development of Maharashtra. As we continue to lead the way in massive infrastructure projects - including the Mumbai-Ahmedabad bullet train, the coastal road, and the Vadhvan Port - I am glad to add the creation of this next-generation entertainment hub to the list of projects that are transforming our state, keeping us at the forefront of India's growth and development. I look forward to working with Prime Focus and DNEG to create a world-class production and tourism destination, securing Mumbai's position as a filmmaking and entertainment centre of excellence."

Prime Focus Group Founder Namit Malhotra said, "My vision for this development, which is shared by the Honourable Chief Minister Mr. Devendra Fadnavis, is to honour the 100+ year legacy of our world-renowned movie industry by bringing together the combined might of the Prime Focus Group companies - including DNEG's Oscar-winning creativity, Brahma's AI technology, and Prime Focus Studios financing and production capabilities - to build the world's most advanced and innovative centre of excellence for the creation of content, right at the heart of our filmmaking heritage, here in Mumbai."

"Leveraging our country's history of skilled craftsmanship and innovation, we are not just developing the world's foremost content creation centre; we are also creating a destination that presents India's culture, our history, and our capabilities to the world, with entertainment and lifestyle experiences that are second-to-none," continued Malhotra. "This new site will be a best practice example of what India can deliver in technology, creativity, and entertainment, and will become a worldwide leisure destination, right at the heart of one of the world's oldest filmmaking industries. We are bringing India to the world by bringing the world to India."

Shares of Prime Focus Limited was last trading in BSE at Rs. 113.65 as compared to the previous close of Rs. 112.71. The total number of shares traded during the day was 2801 in over 224 trades.

The stock hit an intraday high of Rs. 115.00 and intraday low of 108.40. The net turnover during the day was Rs. 310875.00.