The company, which offers sports simulation technology-based games that are popular with children, as well as leisure and recreational activities, will add 600,000 square feet (sq. ft) of entertainment space to reach 1 million sq. ft with the addition of nearly 30 zones by the year-end.
The Smaaash centres will be opened in the metros as well as tier-II cities such as Pathankot, Barnala, and Amritsar.
It will spend ₹450 crore to build the new entertainment centres, at an investment of ₹12-20 crore, each, depending on the size. It will use internal accruals besides contributions from promoters and sponsors.
Shirish Kotmire, chief executive officer, Smaash, said the company was forced to close down its zones for nearly eight months due to the pandemic. Before the covid 19-led disruption, it operated 35 zones, but had to shut a few of entertainment zones permanently and is currently has only 21 outlets.
Smaaash’s annual recurring revenue stood at nearly ₹300 crore, Kotmire said, with most outlets opening up as demand for adult entertainment games is on the rise. “It is a post-pandemic revenge behaviour we are seeing now. We are seeing more adult-centric crowds and it is contributing to the ARR. The trend is that people want to not just play mobile phone games but also experience in-person," said Kotmire.
Smaaash was launched in 2012 by Sharekhan founder Shripal Morakhia as a gaming and entertainment centre that married sports, virtual reality, music, and dining. The company has sports simulation gamification technologies such as twilight bowling, motor and bike racing simulators and go-karting tracks.To tap into this demand, it is investing in new models of extreme sports like physical shooting, archery, as well as drone operated technology games.
It will retain an element of children-centric (6 years-plus) entertainment at its older centres like carousel rides, and will also look at adult focused entertainment for the new outlets.
