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Wonderla Holidays is planning to have two parks — in Odisha and Chennai — to be operational in next 2.5-3 years. For the Chennai Park, the management has been in talks with the Tamil Nadu government. “Hopefully we will get a go ahead to start our Chennai project,” said Arun K. Chittilappilly, MD at Wonderla Holidays.

The company had put the project on hold because of an unfavourable tax situation in the state. Once it gets resolved, the construction will start, he said.

In terms of Odisha Park, the land acquisition is done and preliminary work has started.

“We are in the process of designing the park right now. Once the designing phase is over, we will start executing. So I don’t anticipate any delays for Odisha,” he said.

The construction period for the Odisha Park is roughly about 2.5 years, after which the park is expected to go onstream. The Chennai Park will too will take 2.5 years to go onstream.

The Wonderla Holidays stock is buzzing in trade, up over 75 percent this year. The company reported a stellar set of earnings for quarter two of FY23. Revenue jumped by 284 percent year on year (YoY) while footfalls also grew by 32 percent compared to FY20.

The third quarter is expected to be even stronger than the second one. Discussing the performance of the company so far, Chittilappilly said, “This year is a bit of an anomaly because we are coming out of a COVID period. So footfalls have been strong for us in quarters one and two.”

Percentage wise, the company’s Q2 performance is stronger than Q1. Going forward, Chittilappilly expects to see good numbers — with the third quarter looking strong. “We will end this year in a very good way is what we are feeling right now,” he said.

For the full interview, watch the accompanying video

(Edited by : Shoma Bhattacharjee)