Mumbai: Media company DB Corp plans to invest up to Rs 100 crore in FY 12 to expand its presence in established markets, as well as for new-market launches, a top company official said.
“The print media market is growing at a rapid pace. Being a leader in this market, we see a huge growth opportunity for our business. We plan to invest up to Rs 100 crore in this fiscal to expand our presence in new as well as established markets,” DB Corp’s director, Girish Agarwal, told PTI here.
DB Corp, which runs publications like Dainik Bhaskar, Divya Bhaskar, Saurashtra Samachar, Business Bhaskar, Dainik Divya Marathi, DB Gold, DB Star and DNA, has a presence in 17 states including Madhya Pradesh, Chhattisgarh, Rajasthan, Haryana, Punjab, Chandigarh, Himachal Pradesh, Uttarakhand, Delhi, Gujarat, Maharashtra, Jharkhand and Jammu.
“We recently entered Maharashtra by launching Dainik Divya Marathi in Aurangabad and Nashik. We want to further penetrate into this market by launching it in Jalgaon, Akola, Kolhapur and Solapur this year. We will also spend on promotions and marketing to capture the markets including the established ones,” he said, adding, “Going forward, we will be entering 2-3 new markets.”
The company’s total revenues for the first quarter of FY 12 grew by 18.45% to Rs 353.7 crore for the June quarter, as against Rs 298.6 crore in the same quarter last fiscal.
Its advertisement revenue alone increased by around 21% for the quarter at Rs 284.1 crore as against Rs 235.82 crore in Q1 FY 11.
“With the global economy recovering and Indian print media market growing, we expect our revenues from ads to grow considerably in FY 12. Ad revenues contribute to over 60% of our revenues,” Agarwal said.
DB Corp’s other business interests also span the radio segment through the brand “My FM” Radio 94.3 with presence in 7 states and 17 cities, and a strong online presence in Internet portals.
When asked about its plans for the expansion of its radio business with the phase III rollout of radio station licensing, Agarwal said, “We do not have specific plans for our radio business. We are currently evaluating the market.”