Ajay Devgn¡¯s NY Cinemas opens first multiplex in Gurgaon; A look at his businesses & massive net worth
Ajay Devgn is gearing up for the release of the third installment of his hit franchise ¡®Singham¡¯ which is expected to hit the silver screens in August this year. He also has several others lined up for the rest of the year. However, acting isn¡¯t the only area in which the Maidaan actor excels at.
His non-filmy achievements are no less. For the unversed, the celebrated actor is a proud owner of NY cinemas which recently launched its first multiplex in Gurugram, Haryana at Elan Epic Mall at Sector 70 .
Not many know that the four-time national award winning actor and director Ajay, founded the multiplex chain NY Cinemas in 2017.
Spanning 46,000 square feet, this property boasts a 5-screen multiplex with a total of 890 seats. The cinema is divided into three distinct sections: the pre-lobby area, the main lobby, and the ultra-luxurious AMOR lounge.
Ajay Devgn, founder of NY Cinemas said, ¡°NY Cinemas is expanding and making its way to Gurugram, Delhi NCR. Our endeavour is to create an impeccable experience for audiences watching films at the theatre. I have received a lot of love from my audiences there and this is my way of giving them the best entertainment experience.¡±
NY Cinemas announced that with this launch, it has expanded its presence to 14 cities and plans to introduce an additional 20 screens this year, according to a statement from the company.
The man has plans to invest almost Rs 600 crore in this multiplex venture as the idea is to open nearly 250 screens in the northern and western parts of India.
Driven by his passion for cinema, the 55-year-old actor launched this startup, primarily targeting residents of smaller cities and towns lacking access to modern theaters.?
According to industry estimates, cinema exhibition firms typically invest between Rs 1.5 to 1.7 crore to construct one screen, with costs occasionally escalating to Rs 2.5-3 crore depending on the screen's specifications and the amenities offered within the cinema hall.
What are the other businesses owned by Ajay Devgn?
1. Ajay Devgn FFilms (ADF)
Ajay Devgn's production house, Ajay Devgn FFilms (ADFL), has been behind several successful films. "It's not about whether business acumen is important for an actor, it's about whether you like to do these things, do you want to grow that way, and I believe I do," Devgn had said.
"I believe in that kind of cinema. If it is a niche simple film, you may not mind watching it on a hand-held device or the television. But to go to the theatres, you want that experience. So, we are moving towards that. It's tough because there is so much international exposure, like Avengers right now. It's not like we can't do it, we have the technicians and the technology. But what Hollywood can do in Rs 5,000 crore, we have to attempt in Rs 100 crore. That is the challenge," Devgn said.
The information about the inception of Ajay Devgn's production house has been confusing. While several sources incorrectly cite his first project as Raju Chacha, according to Box Office India (BOI), their actual first project was Hindustan Ki Kasam in 1999. This film was produced by Ajay Devgn's father, Veeru Devgan, under the banner "Devgan Films."
They produced over 16 movies. Ajay has also produced multiple TV Serials/Web-Series. The Trial being the most recent one.
2. NY VFXWALA
Starting in October 2015, Ajay Devgn established a visual effects company initially named VFXWALA STUDIOS LLP. However, within a couple of years, he renamed it to NY VFXWAALA, which is derived from the names of his children, Nysa and Yug. The VFX team at NY VFXWAALA has been involved in numerous major films, including PRDP, Tamasha, Bajirao Mastani, Mersal, Dilwale, and Simmba. They provide VFX services for regional cinemas in languages such as Tamil, Telugu, and Marathi. The studio has earned one National Award and two Filmfare Awards for their exceptional work. As of now, they have contributed VFX to approximately 63 movies.
According to a reddit thread, NY VFXWALA has annual revenue of $3.5 Million(Rs 30 crore approx) and has about 365 employees. Kajol is not on the board of the company. Prasad Vasant Sutar as well as Naveen Paul(Co-Founder/MD) run the company.
3. MAKER CHAMBERS
Ajay Devgn co-owns this company along with four other individuals. The company, which is construction-based, was started in 1989.
4. NY FOUNDATIONS
In 2019, Ajay Devgn, along with his wife and mother, established a charity foundation dedicated to social work activities. The foundation's initiatives include feeding the underprivileged, organizing vaccination camps during the pandemic, funding medical aid and education, and providing widows in Punjab with means of livelihood.
5. NY D I WAALA:
Established in 2019, the company specializes in Digital Intermediate (DI), a crucial aspect of post-production, aiming to provide comprehensive post-production services under one roof.
6.?Siddhipriya & Durja Realty Pvt Ltd:
A private company established in 2010 by Ajay Devgn, his wife, and his mother, primarily engages in real estate activities including property ownership and leasing.
7. Charanka Solar Project:
Ajay Devgn has invested in the Charanaka solar project in Gujarat along with companies like Roha Group and Kumar Mangat, among others. In a statement, Ajay expressed, "The thought behind our entry is that we believe that solar power is the future of industry. We are aiming to reach 500 MW within three to five years with a total investment of Rs 5,000 crore."
Ajay Devgn's Net Worth
According to a report from the Financial Express, Ajay Devgn's net worth is estimated to be ?427 crore, primarily accumulated from his successful acting career.
