Boney Kapoor-Bhutani Group-backed company wins bid to develop Film City near Noida

Noida: Bayview Projects, backed by filmmaker Boney Kapoor and real estate developer Bhutani Group, on Tuesday bagged a contract to develop the International Film City near the upcoming Noida International Airport in Uttar Pradesh, according to officials.

Bayview Projects beat competitors like T-Series and firms backed by superstar Akshay Kumar and filmmaker KC Bokadia to clinch the project.

The financial bid for the greenfield project was opened on Tuesday afternoon by the Yamuna Expressway Industrial Development Authority (YEIDA), which functions under the Uttar Pradesh government.

“M/s Bayview Projects LLP (Boney Kapoor and Bhutani Group) will develop the International Film City in the Yamuna Expressway area after making the highest bid for the Film City,” YEIDA said in a statement.

UP Industrial and Infrastructure Commissioner Manoj Kumar Singh and Director (Information) Shishir Singh joined Tuesday’s programme virtually, along with YEIDA’s CEO Arun Vir Singh, when the bid was opened in front of the PPP Bid Evaluation Committee (BEC) as per guidelines for projects worth over Rs 1,000 crore.

The selection of the concessionaire remains to be approved by the UP government before land is allotted to it for the development of the project, YEIDA OSD Shailendra Bhatia said, adding that the approval from the state cabinet is expected in the next 15 days.

Bayview Projects offered the highest revenue share of 18 per cent to the state government for the Film City, which will be built under the public-private partnership (PPP) model, according to YEIDA.

The second highest revenue share of 15.12 per cent was offered by 4 Lions Films, followed by 10.80 per cent by Supersonic Technobuild, while T-Series offered the lowest

share of 5.27 per cent, the YEIDA said.

“Bayview Projects has formed a consortium with two more companies for the projects. These companies are Parmesh Construction Company Limited and Noida Cyberpark Private Limited.

“Bayview Projects (operations and maintenance) has 48 per cent equity in the consortium while Parmesh Construction (financial) and Noida Cyberpark (technical) have 26 per cent equity each,” the authority said.