Sameer Nair has stepped down as the Group CEO of Balaji Telefilms. He was previously in an advisory role with the company, and has relinquished his role in an executive capacity on the 15th of July 2017, following the end of a three year term. Nair will continue to advise the company.
Nair had joined Balaji Telefilms as Group CEO on the 15th of July 2014. Prior to joining Balaji Telefilms, he had been the CEO of NDTV Imagine, for five years. Before that he was the programming head, COO and eventually the CEO of Star India, in a career spanning 12 years. Balaji has, as the announcement says, a long relationship with Nair, especially since he was the programming Chief at Star TV when Balaji’s shows went on air in 2000.
Financial Results during Nair’s tenure
During Nair’s tenure, Balaji Telefilms reported both significant growth in revenues and profitability, although profitability declined in FY17.
- FY14: Revenues of Rs 131.54 crores, profit of Rs 10.2 crores
- FY15: Revenues of Rs 209.69 crores, profit of Rs 12.27 crores
- FY16: Revenues of Rs 256.85 crores, profit of Rs 43.67 crores
- FY17: Revenues of Rs 284.13 crores, profit of Rs 30.98 crores
In addition to that:
- Balaji launched Alt Balaji, which houses as many as 32 original web shows produced by Balaji. Till 31st March 2017, Balaji had invested Rs 49.7 crores in ALT Balaji.
- Acquired a controlling stake in Marinating Films Private Limited (MFPL) to showcase the Box Cricket League
- STAR India exited Balaji Telefilms