Concall Notes
Revenue growth of 13% led by all-round growth in Footfall (8%) and ARPU (up 5%).
Company had taken 5% price hike across all parks in earlier this quarter which has let to increase in ARPU.
EBITDA increased 22% due to operating leverage and on account on cost rationalization initiatives by the company. Subsequently PAT increased by 27% yoy.
Company’s CEO, Arun Chittapali, is still on leave.
Not much impacted by consumption slowdown, despite footfall falling in other theme parks.
Kochi Park
Revenue grew by a robust 19% led by 12% footfall growth albeit on a low base (as last year was disrupted by floods and nipa virus).
Have tied-up with a five start hotel and made a resort like arrangement as in Bangalore
Hyderabad Park
Revenue increased by just 7%, due to sever high temperature leading to lower footfall growth.
Has planned to setup a Resort in Hyderabad, similar to one in Bangalore (30cr of capex). As the location is closer to Airport and the city, occupancy will be higher.
Bangalore Park
Revenue grew by 13%
Had a small accident last month, where 1 rider was injured.
Bangalore Resort
Revenue increase by 33% yoy on the back of increased occupancy (up to 62% vs 45% last year).
Chennai Park - expected to be operational after FY21 (~18 months)
No positive development from govt’s end about reducing Local Body tax (for 10% to Nil), so have decided to start the construction work.
Don’t expect much impact on water shortage, as adequate step will be taken on water conservation and rain water harvesting.