In a significant boost to Maharashtra’s media and entertainment sector, Prime Focus on Friday announced an investment of ₹3,000 crore to build a sprawling 200-acre film city in Mumbai. The announcement came during the WAVES 2025 event, where a Memorandum of Understanding (MoU) was signed with the Maharashtra government in the presence of Chief Minister Devendra Fadnavis.
The proposed film city, described as a complete ecosystem for entertainment, will include:
- A Ramayana-themed amusement park
- Hotels and residential facilities designed for long-term stays
- Studio infrastructure for film production, post-production, and VFX
Founder Namit Malhotra revealed that the project could create up to 2,500 new jobs and complement the company’s existing workforce of 10,000, 70% of whom are based in India. While the exact location of the facility is yet to be finalized, the Maharashtra government has proposed two or three options within the financial capital.
Godrej Fund Management to Invest ₹2,000 Cr in Panvel Studio
Adding to the momentum, Godrej Fund Management announced a separate ₹2,000 crore investment to build a film and studio complex in Panvel, to be completed in two phases:
- Phase 1: ₹500 crore by 2027
- Phase 2: ₹1,500 crore by 2030
This facility, once fully operational, will also generate 2,500 jobs, aligning with Maharashtra’s broader push to be a media and creative industry hub.
Other Key Announcements
- York University (UK) and the University of Western Australia to set up campuses in the upcoming ‘Third Mumbai’ education hub
- The National Stock Exchange (NSE) unveiled a new ‘WAVES Index’, featuring 43 media and entertainment stocks, to better track the sector’s performance
Chief Minister Fadnavis called these developments a “watershed moment” for Maharashtra’s ambition to be a global creative capital, emphasizing job creation and international collaborations.
