Percept inks Rs 900 million deal with Mirah Entertainment

MUMBAI: Percept Picture Company has signed a deal with Mirah Entertainment. As a part of the deal, the two companies will jointly produce and distribute films in Hindi, English and regional languages.

The Mummy: Tomb of the Dragon Emperor that released on 1 August, 2008 was the first jointly distributed film through this alliance.

The partnership will produce a minimum of five Hindi and three Marathi films and also distribute multiple English language films in India with joint investments to the tune of Rs 900 million (Rs 90 crores).

Mirah Entertainment is a part of Rs 3 billion (Rs 300 crores) Mirah Group with diversified interests in textile, real estate development, hospitality and travel amongst others.

While Percept Picture Company will bring its film marketing and distribution muscle to this deal, Mirah Entertainment will contribute its experience in the service sector such as hospitality and real estate.

Percept Limited joint managing director Shailendra Singh said, "We at PPC always believe in growth through partnerships. We are confident that our relation with Mirah entertainment would grow from strength to strength and accomplish our goal of offering the finest in entertainment to the Indian audiences."

Mirah Entertainment director Gaurav Goenka added, "Being a new entrant in the entertainment industry, we are extremely happy to associate ourselves with the market leader. Our group prides itself on our core values of integrity, excellence and customer centric approach. Through this alliance we hope to focus on providing quality entertainment to the discerning audiences, while concentrating on meaningful cinema."