Cinevistaas, a 25-year old television production company, is venturing into new territories. The company is investing Rs 200 crore (Rs 2 billion) to build an IT Park in Mumbai.
"The company has four acre land in Kanjurmarg suburb. The studio occupies two acres while the rest has been identified as an ideal site for constructing the technology park," said Sunil Mehta, Managing Director and Vice-Chairman.
The Kanjurmarg property was acquired by Cinevistaas almost five years back. Currently, the place functions as a film and television studio, which houses 28 sets. These sets will not undergo any change because of the upcoming IT Park.
The construction of the IT Park will commence by February-end. "Dorma, a German company, has been signed on to overlook the IT Park Project," added Mehta. The project will be completed by May 2009.
According to Mehta, around 2,50,000 sq ft space would be available for rental, of which 20 per cent would be allotted to the hospitality sector after the completion of the project.
On the television front, the production house has produced content for like Jersey No10 on Sony SAB, Dil Mil Gaye on Star One and Yahaan Ke Hum Sikander on Zee Next.