MUMBAI: After firming its position in the North, multiplex chain PVR Ltd is now eyeing the Southern market. The company has signed an Expression of Intent with Bangalore based Prestige Estate Projects Pvt Ltd, Bangalore on 10 December for setting up multiplexes in the upcoming mall – The Developer.
The Developers is expanding with commercial and residential developments in Hyderabad, Chennai, Cochin, Mangalore, Goa and other part of southern India and intends to develop and construct shopping mall cum multiplex centres in these cities.
Pursuant to the Letter of Expression, PVR shall be the multiplex operator at all upcoming malls of the Developers such as Whitefield and Shantiniketan in Bangalore, Cochin, Hyderabad and Mangalore and at other cities of the southern India.
It is the first of its kind of tie-up between a mall and cinema chain. With this strategic alliance, PVR will bring in their expertise to tap the synergies between the company and Prestige to expand.
Through, this tie-up, PVR aims to consolidate and strengthen its association with movie aficionados by dotting newer landscapes in Southern India.