17 July,2009 09:20 AM IST | | Debarati Palit
Revenue from sponsorships shoots from Rs 85 lakh last year to over Rs one crore this time around
While the economic slowdown has affected most businesses across the country, The Royal Western India Turf Club (RWITC), commonly known as the Pune Racecourse, continues to stand tall. "Last year, the RWITC earned Rs 85 lakh in sponsorships. This year it has attracted sponsorships of over Rs one crore a record," explained Vivek Jain, chairman, marketing, RWITC.
The prize money for this year's races, which began yesterday, has also been upped from last year's Rs 6.13 crore to Rs 6.88 crore.
"By the time downturn made its presence felt, we were through with our last season. This year, we have actually pulled in some new sponsors and upped revenues from sponsorships considerably, which is a positive sign. The city is becoming a lifestyle hub and so we expect betting to go up substantially," Jain added.
With various events planned, it is bound to attract more than its regular crop of celebrities . Club members are praying hard that the horses do not contract flu, which struck 1,400 horses in Mumbai last year.
