MUMBAI: Multiplex chain operator PVR Ltd. will invest Rs 2.5 billion to add 200 screens within five years.
The ramp up plan will include a foray into the eastern region. PVR currently has 101 screens across 25 locations, predominantly in north India.
“We plan to set up 200 new screens and invest Rs 2.5 billion over the next four to five years. We have already signed up space area across 35-40 locations. We are expanding our presence to the eastern region as well,” says PVR Cinemas chief executive officer Amitabh Vardhan.
PVR already runs multiplexes across 14 cities in India including Delhi, Gurgaon, Faridabad, Gaziabad, Chandigarh, Mumbai, Lucknow, Aurangabad, Indore, Baroda, Hyderabad, Ludhiana, Bangalore and Latur.
The new screens will be developed under three different categories of PVR, depending upon the socio economic standards of the location. The segments include PVR Premiere, PVR Cinemas, and PVR Talkies.
“While we are looking at opening around 13 PVR Premiere screens (for which the tickets are priced beyond Rs 200), we will be constructing approximately 9-10 PVR Talkies (tickets priced below Rs 100) in B and C towns. The rest will be PVR Cinemas for which the tickets are priced between Rs 100 to Rs 200,” explains Vardhan.
Multiplex operators including Adlabs (with 181 screens across 70 properties) are rapidly expanding their presence across the country.
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