Carnival Films Pvt. Copyright © HT Digital Streams Limited All rights reserved. It's EBITDA has increased by 3,006.54 % over the previous year. Among major cases, the CBI has booked promoters and directors of Advantage Overseas Pvt Ltd Shrikant Bhasi, Dinesh Arkot Selvaraj, Manish Kumar Singh, Gagan Sharma and Jijo John for allegedly cheating State Bank of India, Bhopal, by falsifying records to avail credit facilities of Rs 6000 crore. I had initial discussions with one of the leading Bollywood producers. In case you can’t find any email from our side, please check the spam folder. Sreenath Bhasi is from India. Backed by international agri-commodity trading company Advantage Overseas Pvt. He was a commerce student and graduated in 1987 from Barkatullah University, Bhopal. You are now subscribed to our newsletters. “I moved to Mumbai from Bhopal in 1999. To plot its expansion, Carnival took a short cut—three acquisitions in less than a year. If he manages Big Cinemas acquisition successfully, Carnival will come into the big league," said a senior executive with a rival exhibition firm. In 1988 Bhasi joined Britannia, where he worked in its agri- division. Later, we decided to bid for Big Cinemas," he said. Also, two private equity firms are talking to us to fund these deals," Bhasi said. We seriously got into multiplex business in Tier II cities. So I decided to go and try out in Kerala as Bollywood was turning out to be expensive experiment," Bhasi says in Malayalam. “But the lessons were learnt. Then the idea of multiplex came," Bhasi added. Let's check, How Rich is Sreenath Bhasi in 2019-2020? “We are raising debt and we have internal accruals from various business units. He declined to disclose financial details. We intend to make Carnival Group an institution worth its name, where people rejoice their individuality and at the same time have the most rewarding system. Now, he is making well calculated moves as film exhibition is a distribution-driven market. “In multiplex business, we want to get into metros as the next level. When Carnival bid for Big Cinemas, many thought Bhasi’s move was too audacious. According to TrendCelebsNow.com, famous Film Actor Sreenath Bhasi's net worth is $1 Million - $5 Million. HDIL was new to me. “When we announced that we would be constructing a multiplex, the state government officials laughed at me," says Bhasi. In 2011, he met renowned Malayalam movie director Sibi Malayil and agreed to produce a movie on an experimental basis. We found HDIL’s multiplexes are a good point to enter. Bhasi and his friends successfully bid for the space. He also produced Malayalam movies and one Hindi movie. Mumbai: Shrikant Bhasi’s remarkable journey started in a rather unremarkable Kerala town called Angamaly. “Nobody ever heard about Carnival till then in Mumbai. Asian Business Connections's operating revenues range is INR 100 cr - 500 cr for the financial year ending on 31 March, 2018. He was looking at doing something in the Malayalam movie industry when he spotted an advertisement by Kerala State Industrial Development Corp. Ltd, an industrial and investment promotion agency of the Kerala government, seeking to lease out 17,000 sq.ft. But how is Bhasi funding all these acquisitions? We brought a team from Mumbai and constructed a multiplex in that Tier III city." Join mint channel in your Telegram and stay updated. The company now operates more than 50 screens with an additional 75 screens expected to come on stream in the next two months, taking its total portfolio to 125 screens. Shrikant Bhasi, Chairman, Carnival Group, told BusinessLine, “There is a dearth of quality entertainment in tier II and III cities. “There was no concept of multiplexes in Kerala. It'll just take a moment. Mumbai: Shrikant Bhasi ’s remarkable journey started in a rather unremarkable Kerala town called Angamaly. We realized that there weren’t sufficient theatres for the release of the movie. Sreenath Bhasi earned the money being a professional Film Actor. Come Celebrate Dr. Shrikant Bhasi NetworthWikia.com published an article about Sreenath Bhasi & said that Sreenath's net worth is $64 Million. “Violin taught us everything in terms of structuring of funding. And I am from Angamaly," said Bhasi, who grew up in Bhopal but is now based in Singapore. Dr. Shrikant Bhasi Chairman An Indian entrepreneur with over 25 years of rich experience in the field of International Trade, Marketing, Finance and Administration. Bhasi added other verticals including hospitality, media, real estate, IT parks, event management, food courts and entertainment along with multiplexes. ", Click here to read the Mint ePapermint is now on Telegram. But he was not willing to share sufficient information. We had added other elements to multiplex business to strengthen the business model," said Bhasi. Housing Development and Infrastructure Ltd. Bhasi, after launching his agri-trading company in Bhopal, wanted to do some structured financing deals for Bollywood movies. On Thursday, Carnival said it has signed a binding deal to acquire Glitz Cinemas owned by Mukesh Ambani-controlled Network 18 Media and Investments Ltd. “Kerala, Chandigarh and Pune are great test markets. He points out that Carnival could command discounts from various vendors based on the number of screens. But the budget exceeded the limits owing to experiments and did not collect well. on the fifth floor of a bus terminus complex. The estimated cost for Violin was ₹ 1.5 crore. The result was Violin, a Malayalam musical romance film starring Asif Ali and Nithya Menon. “We are trying to add 500 screens organically. Carnival bought out the multiplex business of Housing Development and Infrastructure Ltd (HDIL) for a little over ₹ 100 crore and signed a an agreement to acquire multiplex operator Big Cinemas, a division of Anil Ambani’s Reliance MediaWorks Ltd, for around ₹ 700 crore. He said there will not more acquisitions of this scale. Ltd began its meteoric rise to prominence from there with just three screens in 2010. Bhasi’s parents live in Angamaly while his family is in Mumbai. Beginning from a small Kerala town, Bhasi now controls over 50 screens, with 75 more set to come on stream.

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