Film content developer and aggregator,Eros International Media,is eyeing 35 per cent growth in its bottom line for FY 12 as it will focus more on profitability than top line,a top official said today. Eros,listed in early 2010,has been growing at the Compound Annual Growth Rate (CAGR) of 59 per cent in the last 5 years and posted a net profit of Rs 115 crore in FY 11 while the overall revenue stood at Rs 700 crore. It had clocked a net profit of Rs 83 crore in FY 10. "We are a leader and now want to extend this leadership and also want to focus more on bottom-line by recovering about 60-70 per cent of the cost much before the release of a film. We expect 35 per cent growth in FY 12," Eros International's CFO,Kamal Jain told reporters at FICCI Frames here today. He further said that the company is looking for acquiring existing film libraries and also the regional distributors. "We are certainly looking out for acquisition of more content creators and regional distributors," Jain said without divulging further details. On investments,Jain said that the company has lined up a capex of Rs 900-1100 crore for the next two fiscals and will fund it through internal accruals. Eros,the country's largest integrated film studio,would use funds in developing entertainment content and into production of movies in both Hindi and regional genre,Jain said. The company,which owns a library of over 1,000 films,will add 80 to 100 films every year,he said. On the company's own production,Jain said that Eros will be producing 2-3 films every year and will focus more on content development for 3G for mobile and other digital platforms. Eros currently has in pipeline about 50 films under various stages of production. A few of these movies slated for FY 12 release are Game,Ra.One,Zindagi Na Milegi Dobara,Rockstar,Desi Boyz,Bol,Agent Vinod and Mausam. On listing of Eye-Qube,a wholly owned subsidiary of Eros,Jain said that the company has plans to list the same in near future. At present,Eye Qube contributes around Rs 25 to 30 crore to the company's overall revenues.
