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May 23, 2016 12:23 PM EDT

'GTA 5' Future Projects With 'Red Dead Redemption' In the Works; Developers Big Plans Revealed?

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"Grand Theft Auto V" in collaboration with "Red Dead Redemption" developer Rockstar Games is prepping new games that are slated to be announced soon, Take-Two Interactive recently revealed.

This is an exciting piece of news especially considering that the studio has not released a new title since "Grand Theft Auto" which debuted way back in 2013. The publisher behind Rockstar Game have been busy working on versions for PlayStation 4, Xbox One and PC. Additionally the team has also been updating "GTA Online" - this probably justifies their absence from the gaming scene for so long.

Take-Two bosses also divulged that new IP along with a slew of unannounced titles are currently in line at the studio, DailyStar reported.

The announcement came as part of the company's latest financial report, and at an interesting timing as well - during E3 2016.

Although the publisher restricted the details shared on these games, Take-Two president Karl Slatoff noted that the company is working to further expand its portfolio. However, it is still unknown if at least one of Rockstar's upcoming titles is a new IP.

CFO Lanie Goldstein noted that Take-Two is anticipating a 75/25 revenue split between 2K Games and Rockstar Games for the ongoing fiscal year, thus hinting that Rockstar's upcoming game may not make an appearance during this fiscal year i.e. April 1 2016 - March 31 2017

In addition, CEO Strauss Zelnick pointed out that Take-Two has declared its complete schedule for the current fiscal year, but no Rockstar games are listed on it, GameSpot reported.

In recent times, Zelnick hinted that the company had some exciting big plans for E3 2016.

Following the announcement in April this year, what resembled the map for "Red Dead Redemption 2" surfaced, clearly indicating that the game was probably a prequel to the original that was released in 2010.

As far as business performance is concerned, Take-Two struggled during fourth quarter and full year ended March 31. The fourth quarter revenue dropped from last year's $427.7 million to this year's $342.5 million during the same period.

Take-Two clarified the decline in profit noting that last year the company had benefited from the launch of Evolve and ongoing sales of the company's more comprehensive holiday 2014 release roster. During the same period last year, profit for quarter was $51.7 million from $54.3 million.

Rumors hinting a "Red Dead Redemption" sequel have been doing rounds for several months.

A former "GTA 5" designer leaked the game, probably taking advantage of "Red Dead Redemption" backwards compatibility on Xbox One for a short time and possibly a "God of War" concept artist outed some Red Dead concept art online as well.

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