Business tycoon Ness Wadia, joint managing director, Bombay Dyeing, is not looking for short-term gain from his association DLF Indian Premier League (IPL) but is foreseeing to build a long-term relationship with the league. Ness, who owns Kings XI Punjab IPL team, refusing to divulge the profit-generation target from the forthcoming matches told FE, ?We have set an internal target of revenue to be generated from the matches and we are quite hopeful to meet the target. But I am not looking for huge profit in just one year or so. Instead, I am looking forward for the long-term relationship. Moreover, we want to connect with people rather than generating money?.
Kings XI is in the final stages of signing an agreement with the principal sponsor for the team. However, Coke, Cadbury, Chevrolet have already signed to sponsor the team, besides others. Having sold 7,000 tickets out of the available 14, 500, Ness is expecting to sell more tickets before its first match kicks off on April 19. Kings XI Punjab will lock horns with Chennai Super Kings at Punjab Cricket Association (PCA) stadium, which has a capacity of 37,000 persons in Mohali. Ness sees great brand building for his group with the collaboration with IPL in the near future and says this will surely add to the margins of the Wadia group. Commenting on the expansion plans of the group, Ness said that the Wadia group is working towards launching 10 luxury malls within the time-frame of 10 years. These luxury malls will house international luxury brands, restaurants, and entertainment zones.
?We have already tied up with Simon Global for launching these unique shopping-luxury malls. The first such mall will be launched in central Mumbai in 2010 and the second will come up in south Mumbai. We will gradually bring these malls to Chandigarh, Hyderabad, Banglore or other places,? said Ness Wadia, who is in Chandigarh to support his team.