Hot Pursuit     25-Oct-23
Wonderla Holidays soars on receiving all necessary Govt approvals for Chennai Project
Wonderla Holidays zoomed 6.38% to Rs 860 after the company announced the receipt of all the necessary approvals/ clearances/ NOCs from the Government of Tamil Nadu for its Chennai Project and thus poised to commence the construction of the project.

Wonderla is set to unveil an amusement park located 45 kilometers away from Chennai, nestled along the Old Mahabalipuram Road. This destination will be situated in the village of Illalur, a mere 2 kilometers from the OMR highway.

The vision for this project involves a substantial investment of approximately Rs 400 crore, spanning across a 62-acre expanse in Illalur village, within the Thiruporur taluk of Chengalpet district.

"This upcoming amusement park promises to be an iconic addition to the company's expansion plans,” Wonderla said in a statement.

Wonderla Holidays operates three amusement parks in Kochi (Kerala), Bangalore (Karnataka) and Hyderabad (Telangana) under the brand name Wonderla.

The company's net profit rose 31.21% to Rs 84.47 crore on a 23.57% increase in sales to Rs 184.64 crore in Q1 FY24 over Q1 FY23.

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