Crest plans animated movie

Mumbai-based Crest Animation Studios Limited (CASL) is planning to foray into the animated feature film space with its first feature film 'Alpha and Omega' scheduled to hit theatres in 2010.

CASL had been in talks with some of the major studios for animated feature films production.

The $15 million 'Alpha and Omega' feature film production marks CASL's first animation film produced outside US.

'Alpha and Omega' project is part of an agreement with US-based Lionsgate with whom CASL has agreed to produce a list of three feature film, informed P Rajasekhar, vice president, HR & Operations, CASL on the sidelines of a seminar organised by Webel-FICCI in Kolkata.

CASL plans to release one movie every two years and become a full length animated feature films company, he added.

The thrust would be on developing content and feature films this fiscal since animated features are always cash earning with high profit margins, he said.

According to Rajasekhar, features are expected to contribute over 50 percent of CASL's total revenue in the near future.

Currently, on an average each feature film production costs around $10-15 million.

Besides its latest venture into feature films, CASL is also in advanced stage of rolling out a wholly owned indigeneously developed feature film, hinted Rajasekhar.

CASL recorded a turnover of Rs 50 crore last year and expected to touch Rs 100 crore by the next fiscal including features and television DVD.