T Series, Boney Kapoor Firm, Others Bid for Noida Film City

Major Production Houses Bid for Noida Film City Project

Source and Citation: Originally reported in Economic Times by ET Bureau on January 6th, 2024.

Analysis for Layman

The Yamuna Expressway Industrial Development Authority (YEIDA) has received bids from top film production firms for a proposed 1,000-acre film city in Uttar Pradesh, near the upcoming Jewar international airport. Notable bidders include T Series, Boney Kapoor’s Bayview Projects, KC Bokadia’s Lions Films, Maddock Films’ Supersonic Technobuild, and Cape of Good Films.

YEIDA will evaluate the bids before selecting a developer based on technical and financial proposals. The estimated investment for the project is ₹10,000 crore, with the first phase involving the construction of the film city across 230 acres by 2028-29. The project aims to provide integrated infrastructure for film production, including facilities for shooting, institutes, retail, and recreation.

T Series, Boney Kapoor Firm, Others Bid for Noida Film City

Impact on Retail Investors

For retail investors, this news indicates potential growth in India’s media and entertainment sector. Production houses like T Series and Boney Kapoor’s Bayview Projects may directly benefit from the project. Additionally, companies indirectly linked to the entertainment industry, such as Eros International, Balaji Telefilms, and TV18 Broadcast, could prosper as well.

Multiplex operators like PVR and Inox Leisure may experience increased footfalls if film production rises in the Noida hub. Investors should be cautious about potential risks related to project delays, regulatory issues, or cost overruns, which could negatively impact developers and investors. However, overall, this news suggests positive prospects for the media and entertainment sector.

Impact on Industries

Media & Entertainment

Major production houses and studios stand to benefit from increased capacity once the integrated Noida film city becomes operational. This development is expected to improve output potential across various entertainment mediums, including films, streaming, music, and digital content.


The project is likely to become a global tourism attraction, benefiting the hospitality, travel, and airline industries with increased visitors, both international and domestic. The possibility of new luxury hotels launching in the region adds to the potential economic growth.


Real estate developers and construction companies will see significant engagement in constructing film facilities, retail assets, roads, and utilities across the 300-acre launch phase.


Connectivity infrastructure, including the Yamuna Expressway and the upcoming Jewar airport, will need to be enhanced to facilitate visitor access to the film city. This presents opportunities for food and logistics players.


The film city’s proximity to India’s largest airport at Jewar is likely to increase passenger footfall, benefiting airlines such as IndiGo, Vistara, and SpiceJet. Hospitality and retail at the airport may also experience growth.


The substantial investment required for the film city could lead to major capital investments from developers, providing lending opportunities for banks. Additionally, rising entertainment exports may contribute to forex inflows into India’s banks.

Long Term Benefits & Positives

The proposed Noida film city development is expected to bring several long-term benefits:

  1. Tourism Multiplier
    • The creation of a globally renowned film production and Bollywood tourism destination puts Uttar Pradesh and India on the world map, benefiting hospitality, travel, and retail.
  2. Infrastructure Upgrade
    • The film city will drive surrounding infrastructure development, improving connectivity, utilities, food, and logistics to cater to increasing tourist volumes.
  3. Global Exports
    • With increased content creation, more international buyers are likely to source entertainment content and intellectual property from India, expanding forex earnings.
  4. Employment Generation
    • The film city is anticipated to generate thousands of jobs during and after construction, spanning production activities, retail, hospitality, and facilities management.
  5. Regional Growth
    • Balancing development beyond metropolitan limits, the project contributes to real estate and socio-economic expansion in the region, reducing the concentration of activities around Mumbai’s Goregaon.
  6. Policy Signaling
    • The film city project, along with other strategic efforts, signals the government’s intention to build global manufacturing and services hubs across key sectors in different regions.

However, the sustainable positive impact relies on the developer executing world-class infrastructure on time, without regulatory or funding hurdles. Effective public-private partnership is key.

Short Term Positives & Negatives


  1. Investor Sentiment
    • Bids from major studios spark investor interest in entertainment and real estate stocks linked to the project near term. Hospitality, travel, and media shares may rally.
  2. Infrastructure Orders
    • Construction contracts likely to be awarded shortly will support engineering, materials, and building firms, providing fresh order inflows for the sector.
  3. Property Demand
    • Anticipation of tourism, commercial, and residential development near the upcoming film city may lead to speculative buying, boosting the NCR property market.
  4. UP Global Image
    • Winning the film city bid adds to Uttar Pradesh’s development credentials, contributing to its reputation as a hub for vocational education, defense, and expressway connectivity.


  1. Execution Risks
    • Regulatory delays or compromised financial and technical standards may negatively impact the project, leading to potential delays or cost overruns.
  2. Asset Bubbles
    • Speculative buying in land parcels and real estate projects may create an asset bubble, and a crash may ensue if projected demand fails to materialize.
  3. Displacement
    • Land acquisition for the project may cause community displacement, requiring careful resettlement and monitoring of area ecology.
  4. Water Stress
    • The mega project places strain on Uttar Pradesh’s depleting groundwater sources, emphasizing the importance of sustainable construction practices.

In summary, while the decision improves fiscal health and PSU self-reliance, the impact on consumers via higher inflation risks and lagging infrastructure upgrades needs mitigation through continued strategic policy reforms.

Companies Impacted by Noida Film City Project

Indian Companies Likely to Gain:

  • T-Series: As a major film production house, T-Series stands to directly benefit from the development of a state-of-the-art film city. Access to modern facilities and infrastructure could reduce production costs, improve efficiency, and potentially lead to increased film production and revenue.
  • Bayview Projects (Boney Kapoor): Boney Kapoor’s involvement in the bidding process suggests his interest in potentially developing and operating part of the film city. This could diversify his business portfolio and create new revenue streams.
  • Lions Films (KC Bokadia): Similar to Boney Kapoor, KC Bokadia’s involvement in the bidding process opens up potential opportunities for project development and operational partnerships, potentially boosting his film production and distribution business.
  • Supersonic Technobuild (Maddock Films): This construction company affiliated with Maddock Films could benefit from potential contracts for building studios, soundstages, and other infrastructure within the film city, depending on the chosen development partners.
  • Indian construction and infrastructure companies: Companies involved in construction, transportation, and infrastructure development could see increased business opportunities related to building the film city’s various components.

Indian Companies Potentially Impacted:

  • Existing film studios and production companies: While the film city might attract new productions, it could also increase competition for existing studios and production companies in the region. Studios with unique offerings or established reputations might be less impacted.
  • Real estate developers near the film city: The development of the film city could potentially attract residential and commercial development in the surrounding area, impacting existing real estate projects nearby. However, the exact impact will depend on the specific location and development plans.

Global Companies Likely to Gain:

  • International film production companies: The film city’s modern facilities and infrastructure could attract international productions, potentially benefiting global film studios and production companies.
  • Technology providers: Companies providing specialized film production technology, equipment, and software could see increased demand from studios operating within the film city.
  • Tourism and hospitality companies: The film city and associated entertainment facilities could attract tourists, potentially benefiting hotels, restaurants, and other tourism-related businesses in the region.

Global Companies Potentially Impacted:

  • Existing film production hubs: The development of the Noida film city might draw some productions away from established global film hubs like Hollywood or Vancouver. However, the overall impact on these hubs is likely to be limited.

Market Sentiment:

The news of the Noida film city project is likely to be received positively by the Indian entertainment industry, with potential benefits for various companies involved in film production, construction, infrastructure, and tourism. However, the actual impact on individual companies will depend on their specific involvement in the project and the overall development plans.

Disclaimer: This analysis is based on the provided information and is subject to change based on further developments. Market sentiment can be volatile and influenced by various factors beyond the scope of this analysis.

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