With the Delhi High Court sanctioning the scheme of amalgamation of six companies of the Media Video group with Media Video Ltd. (MVL), the joint holdings of these companies will provide MVL with a large prime land plot for sale in India holding in Gurgaon valued at Rs. 45 crore.

The Company proposes to announce projects worth more than Rs. 200 crore shortly. Established in the year 1986, Media Video Limited is a listed company headquartered at New Delhi with its prime business into manufacturing and marketing of consumer and utility electronics and durables. MVL is headed by Prem Adip Rishi as its Chairman and Managing Director and backed by a highly progressive talent pool of entrepreneurial executives.

MVL started its manufacturing business during 1987 through pre-recorded Video Cassettes and soon achieved the distinction of being the largest producer of pre-recorded and blank Video Cassettes. It was in the year 1989 when MVL diversified into entertainment electronics and became a pioneer of TV gaming in India. It also diversified into Audio Video products, display devices and entertainment electronics under the brand name MEDIA. The Company has positioned itself in the ‘value-for-money’ segment.

MVL aims to become a Rs. 1000 crore company in the next five years, through diversifying into high development areas like real estate – a market that has witnessed growth rate of 45% per annum. It has opened a Real Estate Division and plans to develop the division through initial operation in the National Capital Region that includes areas of Bhiwadi, Gurgaon etc. Media Video Ltd. will render services like sourcing of land, project management consultancy and development of properties comprising of residential projects, commercial complexes, farmhouses, shopping malls, entertainment centres, clubs, resorts and hotels.