In January this year, the company had informed about the ongiong discussions with Keshav Holiday Resort (KHRPL), a part of Shanku Group, for the formation of a potential joint venture entity in the state of Gujarat.

Offering further updates on the same, Imagicaaworld Entertainment (IEL) stated that it has entered into an agreement for managing the Water Park business of KHRPL. The Shankus Water Park is situated at Ahmedabad, Gujarat.

IEL would be entitled to receive management fee linked to pre-agreed milestones.

The company shall operate and manage KHRPL's Shankus Water Park with the option to use intellectual property (IP) of IEL.

Offering the rationale for this agreement, IEL stated that this agreement would add another destination to its portfolio increasing the reach of its brand to newer geographies.

The company would further sweat its IP, leverage its capabilities of marketing, guest experience, alliances, processes, F&B, retail business development, etc. and improve its brand visibility. It will also help the company's partners to widen their offering.

Imagicaaworld Entertainment owns and operates India's leading theme and water parks, including Imagicaa, WetnJoy, Sai Teerth, and Aqua Imagicaa at various locations.

The company had reported a net loss of Rs 5.17 crore in the quarter ended December 2025 as against net profit of Rs 3.22 crore during the previous quarter ended December 2024. Sales rose 0.24% to Rs 92.08 crore in Q3 FY26 over Q3 FY25.

The scrip shed 0.40% to currently trade at Rs 40.21 on the BSE.