MUMBAI: Pyramid Saimira Theatre Ltd (PSTL) has inaugurated its first multiplex in Faridabad. The 3-screen 522-seat multiplex is the first of the many multiplexes that PSTL is planning to inaugurate in the national capital region (NCR).
Pyramid is also planning to invest Rs 500 million in North India. Pyramid Saimira Group MD P S Saminathan said, “We are happy to foray into the NCR, which is a pivotal market to us. We plan to invest Rs 500 million in North India towards the construction of multiplexes, improvement of infrastructure and digitisation, amongst other developmental activities, in the current fiscal.”
“Faridabad, with a population of close to two million, offers tremendous potential for companies operating in the entertainment space. We plan to open many more multiplexes in the near future in all the happening areas of the city. We have just started penetrating the Haryana market and expect to capture big market share in Haryana by the end of 2008,” added Saminathan.
Prior to this PSTL had also forayed into the F&B business with the launch of its first food court at the SLF Mall at Faridabad in December 2007.
Recently, Pyramid Saimira acquired 51 per cent in the Mumbai-based Dimples Cine Advertising and Dimples Cine Activations. The company also acquired Texas-based FunAsia through its subsidiary Pyramid Saimira Entertainment America, Inc., as well as an existing theatre and radio drive-time hours in Chicago and radio time in Houston.
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