The television software company currently has 11 programmes on air (including three re-runs) in various channels accounting for up to 13 hours of viewership on doordarshan channels DD1, DD2 and eight viewership hours on the cable and satellite network. Addressing a news conference here today, Sunil Mehta, promoter-director of the company, said it had built a library of over 1300 hours of television software and expects to increase this by 600 hours annually.

The company has a track record of consistent growth in profitability having grown at a compounded annual growth rate of 45 per cent from 1997 to 1999.Cinevista plans to set up overseas production centres whereby it will work on reproducing its scripts in local languages overseas with local artistes and locations and the first such venture is in an advanced stage of negotiations with a Sinhalese broadcasting network, "Swarnavahini".

The total investment including setting up of a webcasting service and an integrated post production studio is around Rs 19 crore and the company expects to augment its long term working capital resources by Rs 22 crore.The bidding is slated for early February, 2000 which will be followed by the fixed price offer.