Disclosure: Invested
Please verify for yourselves the below by listening to the concall. If you do see a mistake below, please do let us know here so all of us can benefit.
My notes are not very good, but here goes:
Hyderabad did ok, but not the other 2 parks. This is because of elections, a lack of promotions in Bangalore due to the fact it could have been in bad taste during the heavy impact of water shortages in Bangalore.
The Orissa park is going well, they expect the ARPU to come down once the excitment dies down, but think footfall will hold.
Chennai has been delayed to perhaps Dec 25 or perhaps Jan '26.
They will be going for some kind of funding for the next 7 years, so the promoters are truly devoting their life to this venture, quite reassuring to the investor I think.
However I thought there was a concern on why footfalls fell this badly (-25% Bangalore) and I’m not sure if they know why it is. I worry about the same given we have come short 3 (?) quarters in a row for one reason or another. OPMs are great but I fear a weaker future for now. May be the business is taking a breather.
Wish all here good luck.