Pyramid plans 15 multiplexes in Karnataka

MUMBAI: Pyramid Saimira Theatre Ltd has tied-up with Bangalore based B&B Infrastructure, Ltd (Ritual Developers Ltd) to develop 15 multiplexes across Karnataka.


The land used for this venture will be 15 lakhs square feet. Ritual Developers Ltd have a land bank valued at approximately Rs 5 billion (Rs 500 crores).


Pyramid will have multiplexes, food courts, family entertainment centres and other multiple entertainment services, focused in these places. This agreement between the two is for development of over 15 lakhs square feet segregated into three years.


Initially developments will take place in Bangalore, Tumkur, Dharwar and Mysore.


Pyramid Saimira Theatre has also announced a tie-up with Kalyana Malai, Matrimonial for “Marriage Bureaus” (Kalyanamali) at its theatrical locations across India.


Kalyanamali, which has conducted over 40,000 marriages from 1999 onwards, is the only matrimonial agency present in multiple delivery channels viz. internet, print media, TV channels and chat shows.


Kalyanamali will have its online marriage bureau in Pyramid theatres, wherein the prospective brides and grooms video introduction will be taken, detailed registration done, marriage making done through search, and video online interaction between selected grooms and brides will be arranged.


Complete marriage services on a turnkey basis, will be offered in these locations.


The matchmaking and marriage industry is estimated to be around Rs 500 – 800 billion (Rs 50,000 – 80,000 crores) and growing at 25 per cent a year. More than one crore marriages are being performed across India and increasingly the concept of computerized, professional matchmaking and marriage services is passed.


The first Marriage Bureau is expected to be operational by 9 February, 2007 and more than 100 marriage bureau will be added in the financial year 2007-2008 across India.


Kalyanamali Matrimonial Pvt Ltd. has offered a revenue share to the Pyramid on its revenues and also offered equity stakes to Pyramid.