MUMBAI: Diamond magnate and film-financier Bharat Shah is going global. Shah, who has more than 250 Bollywood movies to his credit, is making his debut in Hollywood with a film titled ‘Ode’.
Speaking exclusively to DNA Money, Shah, the chairman of B Vijaykumar & Co, which is the holding company of his film production firm, VIP films, said, “The film is being directed by an Indian director based in Los Angeles. The film is currently being shot in Kenya. We expect to complete the movie in another 8 months.”
Shah declined to divulge financial details. “The movie making is still in process and I do not want to put a figure to it unless it is completed”.
Exploring a global subject with international star cast, the film is being directed by Oscar-award winner Nilanjan Neil Lahiri. In the 31st annual Student Academy Awards competition, Nilanjan Neil Lahiri won the silver Medal for his film “Focus” along with Bill Ridlehoover.
The film is being financed under Shah’s VIP Films banner.
While Ode will mark his foray into Hollywood production, it certainly isn’t a one-off venture for Shah. “Ode will certainly give us a platform in Hollywood as far as film financing is concerned. We will get into more Hollywood productions in the future. We have to analyse the response to our first movie when it releases next year and make plans after that,” said Shah.
Shah said his film financing business back home has been restricted to just about 7- 8 movies in a year. “At some point, we were producing around 25 movies annually. However, we are now working with select few directors,” said Shah.
While Shah continues to produce movies under VIP Films banner besides distributing them, he is looking at diversifying into film exhibition business.
The company currently manages over two dozen single screen theatres in the country’s Western region, most of them located in Mumbai.
“The advent of multiplexes has completely changed the way entertainment content is being consumed. In fact, these exhibition centres now decide the fate of most of the movies released every week. It certainly is a very potential business and we are seriously looking at adding this to our portfolio,” said Shah.
While film financing as a business is just a drop in the ocean for B Vijaykumar & Co, it is the diamond and real estate business that the company primarily rides on.
A key reason behind Shah’s planned multiplex foray is garner the benefits from integrating his real estate business with entertainment and shopping. And marking his foray into his business will be the company’s first mix-use development in the heart of Mumbai’s posh Huges Road locality.
“Construction work on our first shopping-cum-entertainment-cum commercial space is currently on in Mumbai. Spread across 3.5 lakh sq ft space, it will feature 2 lakh sq ft of retail and entertainment space, while the balance will be commercial office space,” said Shah.
The shopping mall project has been christened Downtown Mall. It is expected to get operational sometime in 2008.
“Developing shopping and entertainment space will eventually take the shape of a chain in the coming years. We do have a decent land bank in key markets and this will be taken up for development from time to time,” Shah said.
The company will have its own mall management company to look after all the current and future developments happening in this space.
