Welcome everyone. I welcome you all to the earnings conference call to discuss Q1 FY '27 results of Wonderla Holidays Limited.

To discuss our results, we have with us from the management, Mr. Arun Chittilappilly, the Managing Director; Mr.

Saji Louiz, Chief Financial Officer; and Mr. Dheeran Choudhary, Chief Operating Officer.

They will take you through the results and then we will proceed to Q&A session. Before we proceed to the call, a small disclaimer: this conference may contain certain forward-looking statements about the company which are based on the beliefs, opinions, and expectations as on date of this call.

The actual results may differ materially. These statements are not guarantee of future performance and involve risks and uncertainties that are difficult to predict.

A detailed safe harbor statement is also given on page 2 of company's investor presentation. Now I would like to hand the call over to Mr.

Arun Chittilappilly. Thank you and over to you, sir.

Hi, thank you. Good afternoon everyone and thanks for joining us.

I hope all of you had an opportunity to review our financial results for the for the quarter first quarter of FY '27. We are pleased to report that we have delivered one of our best quarters ever, making another important milestone in our growth journey.

During the quarter, we recorded an income of ₹252 crore representing 41% year-on-year growth while EBITDA grew 39% to ₹122 crore. Our footfalls crossed 12.25 lakh visitors, up 33% over the same period last year, reflecting the continued strength of our brand and growing demand for our quality leisure experiences.

This performance was broad-based. Our existing parks continue to deliver healthy growth driven by high higher guest guest volumes and as well as improved guest spending.

Revenue from our mature parks grew by approximately 15% supported by 7% growth in ARPU and sorry, 8% growth in ARPU and 7% growth in footfalls. Our Chennai park continues to scale up exactly as we had envisaged.

In our first year of operations, the park contributed approximately ₹45 crore in revenue and over 2.4 lakh visitors during the quarter. As the market matures and awareness continues to build, we remain confident that Chennai will become increasingly significant contributor to our long-term growth.

Beyond our parks, we are also encouraged by our hospitality business. Both our resort offerings delivered their best and along with Hyderabad park delivered their best-ever quarter.

Our focus remains unchanged. We continue to invest in guest experience and expanding premium offerings and improving operational efficiencies.

As our newer assets continue to mature and our existing parks deepen their market penetration, we believe that Wonderla is well positioned to sustain profitable growth in the coming quarters. With that, I would like to hand over to our CFO Saji, who will take you through the financial performance.

Thank you, Arun. Good afternoon everyone and thank you for joining us for the Q1 FY 2027 earnings call.

Let me take you through the key highlights of our performance during the quarter. Our revenue from operations increased by 44% YoY basis to ₹243 crore.

Our existing parks—Bengaluru, Kochi, Hyderabad, and Bhubaneswar—delivered a healthy 15% revenue growth driven by 7% growth in footfall and 8% growth in ARPU. Our new asset Chennai park contributed ₹45 crore in revenue during the quarter with a footfall of 2.42 lakhs.

EBITDA including other income stood at ₹122 crore registering a 39% YoY growth while EBITDA margin remained strong at 48%. Profit after tax for the quarter stood at ₹72.79 crore translating into a PAT margin of 29%.

Let me now explain the key drivers behind the ₹34.48 crore increase in EBITDA including other income. Our existing parks contributed ₹15.93 crore accounting for 46% to the EBITDA growth.

Chennai park contributed ₹21.86 crore representing 64% of the EBITDA growth as the park continues to scale up well. Our resort business added about ₹3.19 crore contributing 9% to the EBITDA growth.

The above-said gains are partially offset by an increase of ₹6.5 crore in the corporate overheads primarily reflecting investments made to strengthen the organization and support our expanding operations as well. During the quarter, company also earned ₹9.47 crore as other income, predominantly from interest and gains on investments.

Overall EBITDA bridge demonstrate that the growth was driven by a healthy performance across our operating business, led by continued momentum in our existing parks and successful scale-up of our Chennai park. Our PAT increased by ₹20.22 crore primarily driven by the improvement of EBITDA.

This was partially offset by an ₹11.49 crore increase in depreciation mainly on account of Chennai park becoming operational and an incremental tax expense of ₹2.75 crore. Moving on to the operating metrics for Q1 FY 2027, footfalls across our parks were as follows: Bangalore park 3.43 lakh, up by 6% YoY; Kochi park 2.5 lakh, up by 6% YoY; Hyderabad park 2.9 lakhs, up by 11% on YoY basis; Bhubaneswar park 1 lakh, up by 4%; Chennai being a new park, 2.42 lakh.

Our average ticket price for the quarter stood at ₹1,310 registering a 2% YoY increase. Average non-ticket spend per guest increased by 20% YoY basis to ₹591, reflecting a continued strength in our in-park spending initiatives.

As a result, average revenue per user, the ARPU, increased by 7% YoY to ₹1,901. With that, I would like to conclude the financial update.

We will now be happy to take your questions. Thank you.

Hi. Thanks for the opportunity and congrats on a good set of numbers.

A couple of questions from my end. If you look at your ex-Chennai park, the footfalls grew by 7% year-on-year this quarter after a mixed trend over the last few quarters.

Should we view this current growth rate as sustainable growing forward in the other parks? Also on your margin, once Chennai park matured, what kind of margin trajectory are you expecting?

See, footfall growth is unpredictable by its very nature. Every quarter it will keep varying.

This quarter was good and we are hoping that for the remainder of the quarters it will be good as well. Having said that, I think this year has started on a strong note, I think we are hopeful that this year it should continue.

Chennai margin should be in line with other margins as it progresses. It's still the first year, it's hard for us to kind of tell you how it's exactly going to be, but long-term it will give the same margins as other parks, or at par.

Got it. Any particular initiatives did you take in those parks which led to this footfall growth?

Summer is the time when a lot of families come and visit us and I think the weather was favorable. Many factors have helped us.

I think every function of ours also played its part. It's nothing unusual there.

How was July looking for other parks as well as Chennai in terms of footfalls?

Far, it's looking good, but again, like I said, July is just one month, we'll have to wait and see for the remainder of the quarter and see how it goes.

Okay. Thank you.

I'll come back in the queue.

Thank you.

Am I audible?

Yes.

Thanks for the opportunity. Sir, my question is on Chennai park.

This year itself we'll go to 1 million or normally other parks take 3 to 4 years to peak, how are management looking at?

It'll take a couple of years for sure. We will not reach 1 million in 1 year.

That may not happen. Because like I said, it's a new park, it's hard to predict how the footfalls will come about.

It's a strong start, for sure. It's going to be a strong start, but exact how the footfalls are going to pan out, again, it's hard to predict.

Should we assume that 10% of every park revenue goes into new rides or new capex into the same park? Can we assume that?

Roughly, yes.

Roughly, yeah. 10% of revenue?

10% of revenue.

Yeah, 10% of revenue, yes, sir. Yes.

Yeah.

Let me ask this way: in the next 3-4 years, what are the minimum number of parks we should be adding, and mostly it will be large or mid parks, or how are you looking at it? Because there's no clarity on that part alone, I think that's what is being a overhang on the company also.

We hope to do a couple of big projects and maybe a couple of small ones as well. We will keep you posted, like I said earlier, and I think by the end of this year, we will have some update on that.

Again, we can't speculate on which one will grow. We are working on many parallel cities, and which I've said in past calls as well.

Once we close something, we will keep you updated and we'll take it from there. We are working on

In the next 3 to 3 or 4 big parks. In the next 3 to 4 years, at least 2 large parks can we assume?

We'll definitely work on 1 or 2 parks in the large parks and then maybe 1 or 2 small ones as well.

In the next 4 years, around 3 to 4 parks should be there in the next 3 to 4 years. Thank you.

Thank you very much, sir, and all the best. Sir, by the end of this year, you're saying this before December will announce something, one one park at least?

Before the end of the financial year, we will have something to announce.

Thank you. Thank you very much.

Also on the resort side, how are you thinking? Is it just around the parks, or you also like the Eyre one, you are also ready to do resort as a separate adjacent business because that's been extremely successful for us.

So Yeah.

We're looking at expanding into that vertical as well. We will definitely, again, expand in other cities.

Maybe, initially, we will start with the cities where we have already projects and then we are also open to looking to other places like Goa to do standalone resort projects also. We will keep you updated, like I said, once we announce something.

Sir. Thank you.

Thank you very much, and all the best, sir. Yeah.

Am I audible? Yes.

Congrats on the good set of results. My question is again regarding the parks.

What happened exactly during this quarter in Hyderabad that we are seeing such a large growth? Is it because we had a lower base or is it some initiatives that we took in Hyderabad?

How is the new roller coaster ride doing in Bangalore? Is it leading to some incremental interest from people?

Yeah.

Actually from all our older parks—Kochi and Bangalore—Hyderabad is still one of the newer parks. Keeping the 2 years of COVID aside, it was only operational for 8 years.

We did have some more juice to squeeze in terms of ramping up footfalls. I think our investments that we made in terms of marketing and kind of building for the brand in Hyderabad over the last few months kind of gave us that benefit in terms of a much higher footfall growth compared to our Bangalore which is 20 years and a Cochin which is 25 years.

That's the reason why you see a higher growth in Bangalore. On your next question, the new roller coaster is received extremely well.

The customer dwelling time, customer experience scores are really up. When we add such global standard rides, it definitely becomes a star attraction for people to come and visit the park again.

It increases frequency which turn drives more footfall. Thank you.

Yeah.

Just another question that currently the rainfall deficit has reduced though, but there is some rainfall deficit that is still there. Do you see any directives coming from the government regarding the park operations?

We've seen something in Mumbai though, but in South also we are seeing some rainfall deficit. What are your thoughts?

No, there is no issues. I think rainfall has been actually strong in the last few days, but again, we can't predict these things.

We'll have to wait and see. As of now, it's all fine.

Okay. Our last question: is there any disruption in Kochi park?

In the last 3-4 days there has been heavy rainfall in Kerala, that's why.

Whenever there is heavy rainfall and landslides and all, some disruption will be there. In our area, there is not much issues, but of course there are disruptions in the state and definitely that'll have some effect on footfall also.

Okay. I'll get back in the queue.

Thank you.

Yeah.

Yeah. Good afternoon, team.

Am I audible?

Yes.

Yeah. Congratulations on a great start to the Chennai park and a good set of numbers.

Just a couple of questions from my end regarding the parks. With respect to Bhubaneswar, right, even in the commentary you had alluded that you will be looking to add more smaller parks in the future.

Just looking at the ASP numbers for Bhubaneswar, they've been flattish for the last couple of quarters, maybe even the last year, year and a half. Just wanted to understand broadly, are there any learnings we are taking from doing a smaller format, that will carry on to newer parks?

See, Bhubaneswar is for us as far as we are concerned, it's like an experiment. We have never done a small park before, I think, we are still learning.

I think because it's a category-creating kind of assets, sometimes, the footfall growth will be slower. I think long-term, we are hopeful that, Tier 2 or Tier 3 also can support, parks of small size.

We are not worried. It's already EBITDA-positive, we are not really worried about it.

Of course, we will have to do more experiments to see how we can attract more footfalls from neighboring areas, etc. That, I hope, answers the question.

We are not shying away from looking at other smaller cities, but of course, I think our focus is on larger cities because for the same effort, maybe more capex, but I think the effort returns are better from larger cities as well. Having said that, we do have so many smaller cities, we will, pick on pick and choose based on what is available and what the governments are offering us.

That's the way we look at it.

Got it. One small follow-up would be, is my understanding right in the sense that we'll do smaller formats only in the Tier 2, Tier 3 kind of locations?

Smaller formats we will be doing in the smaller locations, yes.

Got it. Yeah.

The next question is going to be on the Chennai park, right? Just correct me if I'm wrong, but I heard that it contributed ₹21 crore to the EBITDA itself.

Am I right?

That's what

the CFO mentioned. If I just do some basic math, I just multiply the footfall and the ARPU, I am getting around 40 ₹45 crores of revenue.

Would it be right to assume that the Chennai park is already at the mature park level of margin? Was this expected, is the ramp-up expected?

For now it is, but then we don't have a full picture until we finish a year because every quarter is different and the footfalls can vary for us. Example, Q2 is a much weaker quarter compared to Q1.

We'll have to wait and see how it all pans out. As of now, yes, for a quarter like Q1, I think it is tracking similar to other larger parks, which is very healthy.

Got it. Is the ramp-up for a new park generally this quick, or are you surprised by Chennai as well?

This is one of the fastest ramp-ups that we've had, but I think, again like I said, we caution until the year is over, we don't know how it's going to play out because the highs tend to be higher and the lows tend to be lower in a new business. As of now, we are hopeful that it'll track like a mature park.

Got it. Thank you.

Just one kind of a long-term kind of a question. I believe we have discussed in earlier quarters the concept of IPs for parks, and even if we don't license them, our own IPs maybe.

I think we were not really going for anything like that, but is there any change in view or if you could just broadly outline your view on IP and parks and if they would work for our format? See,

paying a foreign money for IP and then getting that to India, I don't think it works financially. We believe in creating our own IPs, and that is the way we've been working.

Of course, we are open to partnerships and things like that. From time to time, if we find something that's useful and relevant to our audience, we will definitely work on that.

Other than that, we would like to use proprietary IP wherever possible.

I'm sorry. A small follow-up would be I'm not referring to the rides.

For example, one of our competitors, they tied up with Chhota Bheem and like Mr. India and they have some rides based on that, right?

Something along those lines. They don't even need to be foreign.

Did that lead to any footfall or revenues? I don't think so, right?

For me finally it all comes down to whether it makes financial sense. We will take it as it comes whenever there are opportunities.

We do discuss with various companies from all over the world to see whether we can do something, but it has to make sense.

Got it. Thanks a lot for answering my questions.

Have a nice day.

Hi. Thanks.

The result is very encouraging, but when we look at the Bhubaneswar performance, just want to understand how much management bandwidth is allocated for this particular asset at this point of time?

I would say 1/5th.

1/5th. Okay.

Cool. Equally spread.

Understood.

We will definitely spend time on all of them, yes.

Got it. There seems to be a step up in the Bangalore and Hyderabad ARPU.

ARPU is something which we control while we don't control the footfall. Now is this the new base to work on?

Is it because of the new attraction like roller coaster which is added? Your comments would help.

I think there are two large reasons for this. I think one is the kind of cohorts that we are targeting and want to bring to our parks, especially during the summer seasons.

These are high-spending cohorts. I think the main focus is how do we create and premiumize in-park experiences.

These are not just ride-based, but just increase and enhance the dwelling time, make the experiences a lot more immersive. This has led to the non-ticketing spend kind of growing exponentially high for us, like the CFO has stated, and that's actually the major contributor for ARPU.

We feel that there is still a lot more room if you are able to give the right kind of value proposition for customers to come into our parks and spends. I think we keep innovating and taking a lot more initiatives in building in-park experiences which are outside of rides to build this.

Got it. The question is, since there is a step up already compared to previous years, is this the new base to work on for the future?

At a CAGR level, our ARPUs over the last 4 years has been growing at 8%, right? We've already started growing fairly well and we are now at a high base.

We cannot expect similar growth. We continue to dig deep and look at more initiatives and innovate more, but cannot comment whether we will get similar kind of growth every quarter.

Got it. Thank you very much for answers.

Hi, am I audible?

Yeah. Thank you for the opportunity and congrats on a good set of numbers, sir.

My question is related to capital intensity that would be required to set up new parks, if we have to set up a park like Chennai or Orissa now. How much this capital intensity per acre or, maybe even park-wise if you could comment on what kind of capital would be required, and what is the IRR or payback period metric that you would like to look at while considering new park expansion?

Now, the capital requirement is completely depend upon the kind of parks we do, whether it is a Tier 2, Tier 3 city or whether it's a Tier 1 city. Generally we look at it like a payback period.

For a larger parks, we'll get about 7 to 8 years or 6 to 7 years. Then for a small format of parks, we can get a ramped-up payback of about some 4 to 5 years.

Again, these are ballpark numbers. This can change depends on the real scenario at the park level.

Chennai park recently we concluded about ₹570 to ₹600 crore of capex for setting up about 40-plus rides. Earlier days it was slightly lesser.

Now in Bhubaneswar park, if you could see, it's about some ₹190 crore of capital expense for setting up the park.

Okay. Sir, could you also comment on what kind of seasonality we should look at across different parks, and what are you doing to just counter the effect of the variation in different quarters?

See,

our largest quarters are usually quarter 1 and 3, as you could have seen historically. Quarter 1 is also a quarter which drives more volume and value.

Quarter 3 because it's a largely group-dependent business is more volume-led. Can't comment much on Chennai because we are yet to see a full year.

We will only know as the whole year gets over. I think apart from that, in quarter 2, quarter 4, we continue to invest on other initiatives and other cohorts that we feel have the time, especially on weekdays.

We run multiple campaigns for that. Quarter 1 and quarter 3 always be our largest quarters.

Okay. Sir, my last question is, keeping the seasonality in mind and what would be a conservative figure for what kind of footfall at peak level are possible across all these five parks?

What is the number that you aspire for that from your mature and new parks if you combine? At maturity, is there any structural limit to the footfall keeping the seasonality in mind?

I think

we can handle maybe up to 1.2 to 1.3 lakh million visitors for a large park, and then maybe the small park can handle, like Bhubaneswar can handle maybe 5 lakhs or something like that. That's the upper limit, yeah.

Okay. Thank you and all the best.

Hello, am I audible?

Thanks for the opportunity and congratulation on good set of number. My question is related to the segmental data which we published.

Under operating revenue, there is a sharp increase in the others segment, from 38 to 63 crore. Can you elaborate on that?

Could you please explain where is the difference you are saying?

Under segmental revenue which we gave in our press release,

yeah,

in operating, other operating revenue, which has grown from 39 crore to 64 crore, 63 crore. Can you elaborate on that, what lead to sharp jump?

Other non-operating, we usually do two one segment basically for the parks and then resort and other income will be coming as a unreported segment. Mainly the Eyre-related resort of ours, Wonderla, Terraria and Eyre, this will be the other segment, resort business.

Resort business. Resort business is part of that, yeah.

Then other income.

Okay. Thank you.

That's it from my side.

Yeah.

Thank you. Congratulations for great set of number, Arun and team.

My question is regarding the parks that may be coming up in future. Are you looking for the same kind of model which you have in Bhubaneswar where you leased a land from government, 50-acre land at a very low cost, the entire infrastructure cost actually became minimal and that was a very asset-light model.

Are there plans for similar kind of model?

We'll definitely look at asset-light models wherever possible. We can't say which we might be able to do it in a larger city also.

We are exploring it, but it depends on each deal, each city is going to be different. The offering also will be tailored accordingly, it's hard to predict which one will be asset-light or how it's going to be.

If there is scope to do that as well, yes.

Yeah. Thanks, Arun.

Another question is, are we looking at timeshare, that kind of model, and vacation ownership for the resorts that we are building?

Not really. I think we prefer being in the retail space.

Timeshare is not something that we're looking at. Once maybe we have a bouquet of resorts across maybe multiple states, then at that point, I think it makes more sense.

Thank you very much.

Thanks for taking my follow-up question, though. Last time, you had reiterated that you would be looking at 50%, 40% to 50% mix of non-ticketing revenues, which currently stands around, I think, 30%.

Does that stand as of now? Also, on mature parks, you had said that you will be delivering around low single-digit footfall and larger part of growth will be aided through ARPU.

Are we retaining the same now?

Your assumption is correct. That's it.

Thank you.

Yes, hi. Am I audible?

Yep.

Am I audible? Okay.

I had a simple question. How much of your current quarter blowout performance has been due to a weak monsoons, and how much of that is normalized, if you can give us some color of that?

The monsoon starts usually from June, it doesn't really affect our first quarter performance that much. June is not a very strong month.

Our highest footfalls come in May. May luckily we didn't have any unseasonal rains.

Usually sometimes we have unseasonal rains and that is what caused some dip in footfall and things like that. This year, we didn't have any of those.

Compared to last year same quarter, was there unseasonal rains in May, was the base lower or was it

No, I think there was less rains this year. I think generally because of the Super El Nino, I think.

Even otherwise, I think rains have been less. May is usually not a rainy month.

Last few years have been erratic, so that is probably one of the reasons why this

Certainly, the strong performance this quarter, some part of it can be attributed to weak monsoons this year?

It's early to say. We'll have to wait for the monsoon season to be over to actually

I'm saying purely for the first quarter. I'm talking about May.

Like I said, it's not much. Monsoon really didn't have much of a role to play, it's hard to, again, can't put a finger on it like that.

There were other variables. You we had elections in two states, one is Kerala, Tamil Nadu.

In fact, it was the first year of first summer for Chennai. We also had a lot of the war issues in Gulf.

There was a lot of inflationary pressure on our F&B. I think overall, we've been able to be agile and overcome some of these external environments and still deliver a decent set of numbers.

Okay. Just a follow-up question to understand how much of the scale-up is possible in your existing parks, as in Just to understand, get some color on how optimally are all the parks operating, especially the new ones, and what's the headroom for growth there?

Like I said, a large park can handle 1.2 to 1.3 million visitors, and the small park can handle maybe 5, 5.5 lakh visitors, so that will give you an idea.

Basically from this, like to like, there is expected to be a normalized growth in terms of as the parks mature and stabilize, the newer parks?

Yeah.

Okay. All right, sir.

Thank you so much.

Thank you.

Hi. Good afternoon.

Congrats on good set of numbers. I hope I'm audible.

Yeah.

Yeah. Two questions.

One is on this quarter. In your initial statement, you mentioned something about expenses, we've done higher expenses to build at the organization level.

Can you just repeat it? Because the other expenses had increased significantly.

If you can just repeat, and are these one-off in nature or will they sustain, continue?

The other expense increase of overhead expenses you are referring to?

Yeah.

This is mainly the digital transformation expenses compared to the previous quarter because we started the new POS in our parks only from July month. All those digital transformation has costed us about some 1.5 incrementally, and then there are certain regular expenses related to marketing and other things are there.

It's small, miniscule level, and that is a maximum amount what we spend in the overhead level, corporate overhead levels.

Okay. Would the marketing be on a higher end even in this quarter because even in March we had a higher marketing spend because of the Chennai park?

Even this quarter, it's above our normal average?

If you compare the previous quarter, about some ₹5 crore of additional marketing expenses when you compare to the previous corresponding quarter. This is apart from the Chennai piece.

Mainly, we did a little bit of branding in certain markets, and apart from that, we did a little bit of performance marketing. Then as a result, we could see our footfall also growing in all the cities.

Okay. Second question is on the resorts.

I think when we launched Eyre, our idea was that probably we will replicate this model to other parks as well. Based on what we've seen in last one quarter or last 4-5 months, how should we think about future resort investments for other parks?

We are looking at to see how we can replicate. We are very happy with the performance of Eyre and Terraria.

It's again, like I said, it's still new. We are waiting to see how a full year pans out and then we will take a call.

Definitely, we will most likely we will take it to other cities and that plan remains, yes.

One conceptual question. See, is it a necessity that so a resort would make sense if the park is large enough taking 1 or 2 days to complete or is it like even without a park not being very large, a resort can be a part of the system?

How should one think about it?

We are still figuring it out. Like I said, we will know the answers to all that only after a year.

Still very new. We are waiting for a year to complete, then we'll take a call on that.

For the current resort, the people who have come would have done the park, stayed, and then gone back, or is it people have Majority, yes.

Majority, yes. There are people who don't use the park also, but majority would be park guests,

yes. Fine, I'll come back in the queue.

Thanks.

Thank you for this opportunity and congratulations. Just in terms of your future parks, see, we have been operating in this size of park of 40 to 80 acres.

Can the country take bigger parks from 100 to 150 acres, or we believe this is the sweet spot we would like to operate for large parks?

For our model, we like to do it in this size, 9 70 to 80 acres is what we have done. Maybe in a larger city like Bombay, maybe it can be a little bigger also.

That's the way we look at it. I don't think a huge investment, that kind of park, I don't think makes sense in a country like India.

Okay. In Chennai park, did you see any difference in consumer behavior, any particular observation in the Chennai park, anything which you'd want to implement in the future parks?

Not really. The people of Tamil Nadu they already know our parks.

A lot of them have already visited some of our parks in other cities. For us, it's just a new market that was waiting to be tapped.

Don't see any huge change in behavior. They're kind of similar behavior.

Okay. The replicability between Bangalore and Chennai would be how much now or the difference, the unique rides between these two parks?

There are I would say 30% of the rides are different, and the remaining 70 60%-70% are similar.

Okay. That would be a thumb rule for all the parks, 70 being common and 30 being unique?

That's,

yeah, I'd say 50%-60% will be similar, yeah, it can vary a little bit here and there, but, yeah, more or less.

All right. Thank you so much.

Thank you for taking my question. Sir, there is some Miss India World event that is planned in our resort and park.

Can you talk a little bit about it and also keen to understand whether the parks or resorts will be shut for visitors during that period and how one should look at it?

This is just part of our strategic partnerships that we do to build our resort as a premium destination. This was just one of the many marketing initiatives and partnerships that we did.

We don't completely shut down our resort for such initiatives. It goes along with the existing business activities.

Got it. Thank you for taking my question.

Hi, thank you for the opportunity. Am I audible?

Yeah.

Congratulations on a good set of numbers. From our size perspective, now we've crossed 400-plus crores of net cash on balance sheet and now we will have the financial ability to open more parks in quick succession.

Just wanted to check, in case the opportunity arises, do we have the management bandwidth to, let's say, open two parks a year or two parks in two years or something like that in quick succession?

We've already done that in the past, we can do parallelly two amusement park projects or maybe a resort projects, etc. This can be done, yes.

Perfect. The other question was a follow-up on the comment you made on the footfall capacity of the large parks.

You mentioned about 1.2 to 1.3 million footfall that can be accommodated. I just wanted to clarify something: this assumes when you use the extra land parcel that is available in these parks and you add more rides?

That's when we will reach it?

No, this is just talking about as-is condition.

Sorry?

It's talking about as-is condition. Not using all the extra land.

If you do all that, I think of course we can add more visitors as well.

Interesting. Then what would be needed to reach this 1.3 number?

Because right now, I think we only did 1.3 million in Bangalore, I believe, in one of the years. Otherwise, we've always done less than that.

Because

when we do that kind of numbers, it also creates a lot of negative publicity and lot of overcrowding happens. I think once we have a sustaining high footfalls on certain months, then that's when we think about increasing our capacity in some areas.

We're already doing that. Slowly the park capacity will increase.

So, 2-3 years back if you had asked me, I would say the capacity was 1.1 million. Now I think we can comfortably handle more than that.

I think slowly the park capacity will increase as we add more attractions. That's the way we look at it.

Yeah. With your permission, if I can ask a follow-up?

Sure.

At some couple of quarters or some time ago, you had mentioned about the excess land available in some of your parks. Broadly that excess land position is the same?

We still have surplus land available

in We have excess land. We always keep excess land because we might want to build a resort or we might want to extend a park, or we might want to add a roller coaster.

These things all take a lot of real estate, I think we always keep excess land.

Okay. Just final one from my side: what would be the maintenance capex and some marginal capex that we might do for this year?

Generally we keep about 10% of a top line for the expansion purpose or maybe for adding new attraction to the existing park. 6% to 7% of my top line will be for the maintenance capital.

Perfect. Thank you for answering my questions and all the best.

Thank you.

Thank you for taking my question and congratulations on good set of number. My question is regarding business development for new park.

It has been around 18 months since our QIP and I understand that putting up parks, specifically a big park, choosing a city is very important and the location in the city and the agreement with the government. What has been our experience for last 18 months for the selection of new large park specifically?

What goes on the ground so that we can understand what are the procedures, what are the things before selection to understand the pace in the future for 5-7 year how many parks can come? Can you give this description what has happened in 18 months so that we can learn better on that?

Hard to give a description on that because a lot of it is our proprietary thing as well. We always keep scouting for new locations to see whether there are suitable properties available to do this and in suitable locations.

It keeps varying, it's not easy to find large parcels of land at a reasonable price in most cities, as you know. It's very difficult to find good land for acquiring without any encumbrances.

Then it's also difficult to get a lot of these licenses and land use changes, etc., which is why we usually talk to governments also parallelly when we do this. As I said, we are in advanced talks with at least three or four state governments.

Hopefully, we will close something and at that point, we will let you know what is closed now.

Okay. My second question was regarding the capacity.

You have just told that we can increase the capacity by adding more rides. Any city-wise, do you think even we have the extra land, we may put a resort, that's a different thing, for number of visitors, do you think there is a limit to that number for a one city that after adding so much more rides, it won't be that much useful?

A sense, a color on that?

It's hard to predict that. Again, as time goes by, we are able to handle more visitors and we get higher ARPU.

That is our strategy. We don't want to fill up the parks too much also because then it also negatively affects our customer experience and then it hampers repeat visits, etc.

We have to find that right balance because nobody wants to go to a park which is extremely overcrowded. It's also a safety risk.

It's a delicate balance that we have to do.

Okay. My last question is regarding F&B income.

How do you see this F&B increasing or staying there as compared to the park ticket, and how do you see it in the future?

The share of non-ticket revenue will increase, and as you've already seen, it is already increasing. I think people are willing to spend more on food and retail and resorts, etc.

I think you will slowly see that part of the contribution increasing as well.

Okay. Thank you and best of luck.

Thank you.

Hi, thanks for taking my questions. First about the parks.

You mentioned that Hyderabad park results are a kind of a growth engine, but if I look at the footfall for last trailing 12 months and compare it to the previous period, that is year before, there is no growth over there. Can you please comment on that?

I'm not sure if that's the right way to look at it because we are a seasonal business.

That's why I included all 12 months. I'm talking about trailing 12 months which is 895,000 footfall as compared to 893 in the corresponding period year before.

Am I missing something here?

We've made some disproportionate investments, like our CFO earlier also said, in terms of marketing and building the brand and further penetrating more footfall for the AP-Telangana, and we've been seeing early results. We continue to look at opportunities to further grow because we feel that Hyderabad has the potential to do a bit more.

It's been a good start to the financial year, and hopefully if this momentum continues, we will be able to showcase similar growth for the entire FY versus the previous financial year. Oh,

that will be fantastic. Yes, thank you.

About the Chennai park, I just wanted to understand what the area of land is presently developed for the park?

40%-50% is developed.

We had 61.87 acres, if I'm not wrong. Should I assume that about 30 acres is developed for the park?

Yeah. That's right.

Great. About the resorts, fantastic performance and the top line as well as the occupancy has shown really good numbers.

What's the EBITDA for this 9.61 Cr which we've talked in the June quarter?

We don't give EBITDA for our resort business.

It's part of our other, yeah.

It's very profitable for us. Like I said, it's also new, once we have a full year of operations, we can give you better details.

We usually don't give out EBITDA numbers for the resort business as yet.

No worries. I can understand that.

I think we have about 120-plus rooms put together across both the formats in the resort. Any further plans looking at this occupancy?

Are we having this kind of a better occupancy, is this a one-off event, or do we see a regular traction going forward?

Yes?

Okay.

Hi, thanks for taking my question. I have a couple of questions.

My first question is on the safety culture of our company. Given that for a theme park operator, a single major accident can damage public trust for years, even if the financial impact is initially limited.

Therefore, can you just talk about the safety metrics that we follow internally, for example, near-miss incidents, preventive maintenance, or third-party audit scores, etc.?

We do our own preventive maintenance and a lot of that information can be seen on our website. I would not like to go into detail here, but suffice to say that we follow the best practices in terms of safety and maintenance.

I think we have a huge teams who maintain, and we actually have teams who design, build, operate, and maintain the rides. I think we have a huge team which manages this, I think we are pretty well sorted.

This is not something that's new to us. A lot of this information is available and you can get it on our website.

All right, sounds good. My second question is about the

I just asked one question. That's okay, I can go back to

Thank you all for attending our conference call to discuss the first quarter performance for FY '27. We continue to be optimistic about the future prospects of the company, and we will keep you updated on all our latest updates.

Hope to see you at the next call. Thank you all for joining.

Thank you. Thanks.