Concall Summary:
- Results are inline with projections of 3-5% footfall growth and 15-18%.
- Company is strengthening the management team by hiring and ESOPs.
- Bhubaneswar park will start by mid May-June with ARPU of 1000.
- Chennai park major work has not started. Completion by Q3 25-26
- EBITDA% is down by 5% and will continue to fall for the next 2-3 years as new parks come in and manpower increases. Steady state EBITDA is 50%.
- 10% of revenue goes back to existing park as CAPEX for maintenance and new attractions
Prediction: Next year revenue growth should be 30% (20% from existing parks + 10% from bhubaneswar).
Disclaimer: Invested and biased
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