Imagicaaworld Entertainment will invest ₹100 crore to expand its water-park complex near Ahmedabad, the company announced on Monday, after reporting a 5% year-on-year rise in visitor numbers for FY24 according to thehindubusinessline.com.
The Mumbai-listed operator will add new slides, wave pools and retail zones at its existing 73-acre Imagicaa Water Park in Khopoli, Gujarat, with construction slated to begin in the third quarter of FY25. Chief financial officer Anil Harwani told thehindubusinessline.com that the capex will be funded through internal accruals and a ₹60-crore term loan already sanctioned by State Bank of India. The expansion is expected to increase daily capacity from 8,000 to 12,000 guests and lift average ticket prices by 12-15% once the new attractions open in phases starting April 2026.
The investment comes as India’s organised leisure-park industry rebounds to pre-pandemic levels, with domestic tourism spending projected to touch ₹4.5 trillion by 2028 according to thehindubusinessline.com. Comparable listed peers such as Wonderla Holidays have earmarked ₹350 crore for new parks in Odisha and Chennai, while Adani Group’s upcoming ₹2,000-crore entertainment district in Navi Mumbai signals intensifying competition for the same weekend-travel rupee. Analysts tracking the sector note that Gujarat’s 6.4 crore population and rising disposable incomes make it a natural second hub after Maharashtra for Imagicaaworld’s leisure assets.
Management has guided for the expanded water park to break even within 30 months of full commissioning, contingent on sustaining the current 78% utilisation rate reported for FY24. Investors will watch the company’s Q2 earnings call on 14 August for updates on land-use approvals and any plans to replicate the Gujarat template in Rajasthan or Telangana, markets where Imagicaaworld already owns land banks, according to thehindubusinessline.com.