Imagicaaworld gains 20% as Gujarat acquisition and new indoor parks expand its leisure footprint
Imagicaaworld reported strong first-quarter growth, agreed to buy a controlling stake in Mehsana’s Shanku’s Water Park and plans to rebrand it Aqua Imagicaa. The company has also signed LOIs for Hello Park indoor entertainment centres in Hyderabad and Surat.
What happened
Imagicaaworld Entertainment · Imagicaaworld reported strong Q1FY27 growth, acquired a controlling stake in Shanku's Water Park in Gujarat and plans to rebrand
Key facts
- 20% upper circuit at Rs 60.22 per share
- Q1FY27 revenue Rs 1,776 crore, up 19.9% YoY
- EBITDA Rs 901 crore, up 24.1% YoY; margin 50.7%
- PAT Rs 575.7 crore, up 29.9% YoY; margin 32.4%
- Rs 50 crore investment for 50.002% stake in Mehsana Next Parks
- Management fee range 6%-10%
- Hyderabad Hello Park: about 10,000 sq ft
- Surat Hello Park: about 9,000 sq ft
Why this matters
Imagicaaworld’s controlling Gujarat acquisition and asset-light LOIs signal a replicable expansion playbook that combines regional park consolidation with partnership-led entry into high-density urban markets.
What to watch
- Closing terms, purchase consideration, ownership percentage and assumed liabilities for Shanku's Water Park.
- Aqua Imagicaa reopening or rebrand date, refurbishment capex, safety certifications and initial visitor trends.
- Binding agreements, funding model, site locations and targeted launch dates for Hyderabad and Surat Hello Park centres.
- Quarterly footfall, average revenue per visitor, EBITDA margin and annual-pass sales versus pre-expansion levels.
- Management guidance on FY revenue, capex, leverage and the number of additional pipeline locations.
- Competitive responses from regional water parks, malls and indoor family-entertainment operators in Gujarat, Hyderabad and Surat.
- Complete the controlling-stake acquisition, begin safety, maintenance and guest-experience upgrades, and launch the Aqua Imagicaa rebrand before the next peak water-park season.
- Convert Hyderabad and Surat Hello Park LOIs into definitive lease, franchise or operating agreements with disclosed capex and opening dates.
- Bundle admissions, annual passes and digital marketing across Imagicaa, Aqua Imagicaa and Hello Park to build a multi-city customer database.
- Use the Gujarat foothold to evaluate adjacent western-India leisure assets, especially city-based indoor formats that reduce monsoon and seasonality exposure.
- Prioritize debt discipline and asset-light partnership structures if the expansion pipeline broadens further.