Edit June 6th:
What you can try to do, in Android, is:
- Delete the drawable\splash.9.png image
In src\com... yourApp.java add after the onCreate
super.onCreate(savedInstanceState);
this.setStringProperty("LoadingDialog", "mytext1");
This will display some dialog with the text "mytext1".
The dialog will be dismissed once the app finished loading.
From here on you can add your own native code to display an image with some indicator on top of it - maybe. you'll need to implement that and see if it works, but this is the location to do it.
This is all native, not web. You can't do this in web code.
And similarly in iOS.
Don't know about BB and WP8.
Balaji,
The answer to this question will not be any different from your exact already-answered question: Splash Screen with busy Indicator in worklight app. This is a duplicate question.
Prior to Worklight 6.2 (to be released this month, June 2014), you cannot create a custom splash screen behavior as the one you've described. Asking this again is not going to change the answer. :-)
This is not doable using web code, because the splash screen is invoked from native code while the framework and application are being initialized. To alter the behavior of the splash screen you need to write native code, to produce a different experience.
As said, this will be possible in Worklight 6.2, for Android and iOS (= will not be possible for Windows Phone and BlackBerry at this time).
As an illustration, you could do something that looks like this: