Animation outsourcing firm Compact Disc India‘s subsidiary Laser Infomedia is establishing a Gaming Publishing & Development Studio at Jaipur, the company has informed the BSE. They’re planning to invest Rs 100 crore within the next financial year, and have been allotted 13,700 square meters of industrial land by the Rajasthan State Industrial & Investment Corporation.
The gaming subsidiary, Laser Infomedia, was to initially set up a gaming studio in collaboration with Singapore-based Golden Games Pte in New Delhi, according to IndianTelevision. Golden Games was to invest Rs 80 million and CDI Rs 30 million. Laser Infomedia was to raise Rs 90 million to complete the equity part of the funding. In December, the location was changed to National Capital Region. It is now Jaipur and no note of Golden Games’ participation is mentioned.
From being a producer and distributor in the media and entertainment sector, the Chandigarh-based company shifted its focus to the animation outsourcing domain in 2003. It has only recently begun working on original animation movies – one on a soccer game starring Pele, in which it has invested $63 million, will be launched next year at the Commonwealth Games. It is also working on a 90-minute animation feature on the Taj Mahal called Eternal Love.
It has now expanded into two new sectors – gaming and brand licensing and merchandising by establishing subsidiaries. Compact Disc India plans to invest Rs 100 crore within the next financial year in the newly established gaming development and production agency and has roped in Ernst & Young as its advisor in Jaipur. It already has animation studios at Thiruvananthapuram, Kerala and Chandigarh.
Last fiscal, CDI’s revenues doubled and it continues to reflect profitability. In the nine months ending 2008-09, its sales revenues grew by 95.75% to Rs 140.16 crores. Its net profit grew by 93.09% to Rs 27.48 crores and its EPS stood at Rs 29.72. Its outsourcing division is currently working on projects worth Rs 329 crores.