PVR to invest Rs 750 million in 45 new screens this year

MUMBAI: PVR Ltd is planning to add approximately Rs 40 – 45 screens this financial year with an investment of Rs 750 million (Rs 75 crore).

Additionally, the multiplex chain has further strengthened its presence in Uttar Pradesh with the launch of the second multiplex in Lucknow. The next cities on PVR’s expansion radar include Udaipur, Pune, Vijayawada, Bhopal, Delhi, Bangalore and Surat amongst others.

This financial year, PVR also plans to aggressively activate its plans across different entertainment formats, which includes cinemas, bluO and entertainment centers. For its bowling alley business bluO, PVR will add 100 lanes over the next two years at an investment of Rs 500 million (Rs 50 crores).

With the new multiplex launch in Lucknow’s United Mall, PVR now has 24 screens in Uttar Pradesh with presence in Ghaziabad, Allahabad and Lucknow.

The new six screen multiplex has a capacity of 1502 seats. The second launch in Lucknow is a part of PVR’s organic growth strategy of pan India expansion and increasing its presence in Tier II cities.

PVR joint managing director Sanjeev Kumar Bijli said, “It gives us immense pleasure to launch our second cinema here in Lucknow. The quality entertainment experience offered by PVR Digital Cinema has enhanced the way the movie lovers in the city watch movies. This launch is an important step for PVR as it is our constant endeavour to be the number one brand in the hearts and minds of people. We have aggressive expansion plans for PVR Cinemas and this financial year we are looking at adding 45-50 screens at an investment of Rs 75 crores. The next cities on our expansion radar include Udaipur, Pune, Vijayawada, Bhopal, Delhi, Bangalore, Surat and more.”

PVR group president and CEO Pramod Arora added, “We are extremely delighted to launch our second multiplex in Lucknow, the city has a growing population of movie lovers which urged us to open another multiplex here. In fact it was the positive response of the people of Lucknow to our existing cinema in Sahara Ganj that has prompted us to open another cinema here. This launch is a step towards PVR continuing to provide our Lucknow audiences with an unparalleled and unmatched cinema viewing experience. This financial year we intend to be aggressive on activating our plans across different entertainment formats which includes cinemas, bluO and our entertainment centers. For instance for bluO, our bowling alley business we have plans to add 100 lanes over the next two years at an investment of Rs 50 crores.”

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