IANS

New Delhi, Nov 6: The Sanjay Ghodawat group, which has business interests in diverse spheres such as realty, education and textiles, has entered the entertainment sector through an agreement with Bollywood production house Percept Picture.

As part of the deal, the group will invest around Rs.100 crore over the next three years in the entertainment space, Percept said in a statement Friday.

The first film to be released after the agreement was signed -- the hard-hitting drama "Jail" directed by Madhur Bhandarkar -- hit the screens Friday.

"We foresee tremendous potential in the entertainment space. Our tie-up with Percept Picture Co and association with Madhur Bhandarkar has been a great start to this venture," said Ghodawat group chairman Sanjay Ghodawat.

Added Shailendra Singh, Percept's joint managing director: "Apart from 'Jail', we have Priyadarshan's �Bum Bum Bhole' and �Carry On Pandu' by Chandrakant Kulkarni. Both are expected to hit cinemas in early 2010."