June 2, 2023

The corporate’s Joint Managing Director, Sanjeev Kumar Bijli, stated multiplex operator PVR goals so as to add 100 extra screens within the subsequent 15 months, aiming to run 1,000 screens by the tip of Fiscal 24.

Bijli stated the corporate, which hit the 900-screen milestone on Monday, will make investments round 300 crore so as to add one other 100 screens.

As a part of the growth, the corporate is getting into new cities, significantly within the southern and jap areas of the nation, the place it has an insignificant presence.

Bijli stated PVR is searching for smaller cities which can be underserved and have “excessive potential”.

When requested concerning the growth, Bijli stated the PVR will add 30 screens within the present quarter. As well as, some shows which can be at present underneath renovation will likely be obtainable within the March quarter.

“We goal to have 1,000 screens by the twenty fourth fiscal yr,” stated Bijli. “The corporate will make investments about 300 crore to open 100 screens within the subsequent 15 months.”

Apart from India, PVR has a small presence in Sri Lanka, the place it operates 9 shows.

Bijli dominated out additional abroad growth of PVR, saying, “We aren’t different markets,” and stated it’s going to deal with home growth, which has good alternatives.

Concerning the enterprise, Bijli stated the present content material pipeline (for films) is encouraging.

On March 27 final yr, PVR and Inox Leisure introduced their merger. This has been endorsed by its respective shareholders, collectors in addition to main exchanges NSE and BSE.

The corporate expects the remaining formalities to be accomplished by the tip of this fiscal yr.

“We may have 1,600 screens after the merger,” stated Bijli.

PVR opened three new multiplexes in Jaipur, Bengaluru and Gurugram on Monday, including 19 screens. With these newest additions, PVR has created a sequence of 900 screens in 181 properties in 78 provinces in its 25-year journey.

(Solely the title and picture of this report could have been reworked by Enterprise Normal employees; the remainder of the content material was mechanically generated from a publicly obtainable feed.)

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