About the Company
The New Excelsior Theatre, located in Mumbai, is a historic cinema hall that has undergone several changes over the years. The cinema was initially designed by architects N.N. Mehtia and L.M. Contractor, with its construction completed in 1918. The theatre occupies the basement, ground floor, and first floor of the building, with the lobby spread across two levels. The theater’s design reflects the architectural style popular during the British colonial era.
Over the years, the New Excelsior Theatre has undergone several changes in ownership and management. In 2006, filmmaker Subhash Ghai’s Mukta A2 Cinemas chain took over the theater’s operations. Mukta A2 Cinemas is a well-known cinema chain that operates 50 screens in 15 cities across India. The chain’s takeover brought a new lease of life to the New Excelsior Theatre.
In 2016, the New Excelsior Theatre underwent a major renovation under the guidance of architect Sohil Kapadia. The renovation involved significant changes to the theatre’s layout and seating capacity. The theater’s seating capacity was reduced to 506 seats to enhance comfort and provide a more intimate viewing experience. The renovation also involved upgrading the theater’s projection and sound systems to deliver a high-quality movie viewing experience.
The renovated Mukta A2 New Excelsior Theatre officially reopened in February 2017, attracting moviegoers from across Mumbai. The theatre’s modern design and upgraded facilities have breathed new life into this iconic cinema hall, while retaining its historic charm. The theatre’s strategic location in the heart of Mumbai’s business district, combined with its high-quality facilities, make it a popular destination for moviegoers and film enthusiasts.
Streamline all Back End Operations so that you can save Time & Money and focus on GROWING YOUR BUSINESS.
Accounting & Tax: Let us crunch the numbers, so you can focus on growing your business.
Virtual CFO: Experience financial success with a Virtual CFO by your side.
Internal Audit: Gain peace of mind with our comprehensive internal audit services.
Company Secretary: Let our experienced Company Secretary guide you through corporate compliance effortlessly.
Challenges faced by The New Excelsior
New Excellior has been encountering challenges in their operations, causing difficulties in their day-to-day business activities. One of the main challenges is related to the reporting of books, which has been proving to be quite challenging due to the complexity of their accounting systems and the volume of transactions they process.
Addressing Book Reporting Challenges
To address the book reporting challenges, New Excellior may need to consider implementing new software or accounting systems that can help them manage their books more efficiently. Alternatively, they may need to hire additional staff or consultants with specialized expertise in accounting and financial reporting to help them address this issue.
Another challenge that New Excellior has been facing is related to compliance issues. As a company, they are required to adhere to various legal and regulatory requirements, which can be complex and time-consuming to manage. Failure to comply with these requirements can result in fines, legal penalties, and reputational damage.
Savage & Palmer, a consulting firm, provided significant support to New Excellior, a company facing multiple operational challenges.
Resolution to the Book Reporting
One of the ways Savage & Palmer supported New Excellior was by providing expert guidance and advice on how to address the reporting of books, compliance issues, troubles with their Book of Accounts, and TDS problems. By providing this guidance and expertise, Savage & Palmer helped New Excellior to free up valuable resources and focus on other critical business challenges.
Reporting of Books
One of the most significant challenges that New Excellior faced was related to the reporting of books. Savage & Palmer recognized that this challenge was complex and required a high level of expertise to address effectively. They worked closely with New Excellior to review their existing accounting systems and processes and identify areas for improvement. Savage & Palmer also helped New Excellior to implement new software and accounting systems to streamline their reporting processes, which allowed the company to focus on other critical business activities.
In addition to addressing the reporting of books, Savage & Palmer also provided support to New Excellior in addressing compliance issues. Compliance requirements can be complex and time-consuming, but they are critical to ensuring that a company operates ethically and within the law. Savage & Palmer helped New Excellior to develop and implement a compliance strategy that met all legal and regulatory requirements. They also provided training to New Excellior employees on how to maintain compliance, which allowed the company to focus on other critical business activities.
Savage & Palmer’s support to New Excellior in addressing their operational challenges not only enabled them to improve their processes but also freed up valuable resources for the company to focus on other critical functions of the business.
By addressing reporting of books, compliance issues, troubles with their Book of Accounts, and TDS problems, Savage & Palmer enabled New Excellior to streamline their operations, reduce risks, and focus on other critical business functions. The company was able to take on new projects and business opportunities that they may not have had the resources to pursue before. This allowed New Excellior to grow their business, expand their market presence, and ultimately increase revenue.
In addition,We provided support that helped improve New Excellior’s employee productivity and job satisfaction. With better processes in place, employees were able to focus on tasks that added value to the business rather than dealing with the challenges of inaccurate bookkeeping or compliance issues. This resulted in a more motivated and productive workforce that was able to achieve more with the time and resources available.
Furthermore, Savage & Palmer’s support helped New Excellior to strengthen their relationships with customers, suppliers, and other stakeholders. With improved processes and compliance, New Excellior was able to deliver more value to their customers and build stronger partnerships with suppliers. This resulted in increased customer satisfaction and repeat business, as well as improved reputation and market positioning.
Our support also helped New Excellior to reduce the risk of legal and financial penalties due to non-compliance or inaccurate bookkeeping. By ensuring that New Excellior was meeting all legal and regulatory requirements, Savage & Palmer helped the company to avoid costly penalties, lawsuits, or reputational damage that could have negatively impacted the business.