Mayajaal Entertainment set to start 18-acre sports complex
By As per the current plans | 04 Jul 2003
Chennai: Mayajaal Entertainment is all set to inaugurate its 18 acre sports complex: Mayajaal's The Champ Sports Village.
Built at an outlay of Rs 7 crore, the complex has cricket stadiums (both outdoor and indoor) tennis court, swimming pool, health club (gym, Jacuzzi, steam room, massage parlour), a mini-golf course, table tennis and snooker rooms. In addition, the sports village has smoking and non-smoking bars and a restaurant.
"We will initially target the corporate segment for membership. In course of time, as in the US, we will have walk-in customers," says Dr V Chandrasekaran, chairman & CEO, Pentamedia Graphics.
Mayajaal is a wholly owned subsidiary of Pentamedia Graphics. According to Chandrasekaran, the company will initially rope in 400 members while the membership schemes are being worked out.
As per the current plans, Mayajaal will recover the investment made in the sports complex in three years' time. The entertainment complex currently earns around Rs 70 lakh per month. "The total investment made by Mayajaal will be around Rs 30 crore but the market valuation is around Rs 60 crore," says Chandrasekaran.
The new facility has come up adjacent to the company's existing entertainment complex near Chennai, housing multiplex theatres, bowling alleys, video games and food courts. "Ultimately we will want the entire complex housing the entertainment and sports facilities into a sports resort by building 16 cottages. The total number of rooms will be around 50 and will each will involve an outlay of Rs 25 lakh," he adds.
