MUMBAI: Pyramid Saimira Theatre Ltd will be adding 36 theatres in Andhra Pradesh in the West Godavari and Nizam areas. With this acquisition, the company has added 23,000 seats in Andhra Pradesh. The company has acquired the distribution rights for the mega Rajnikanth movie Sivaji for the Nizam territory.
Pyramid Saimira Theatre Ltd chairman V Natarajan said, “We are extremely happy to expand in Andhra Pradesh, which is a pivotal market to us. All the that PSTL has acquired are of good quality with superior features like OTS and AC. In fact, PSTL has already digitized more than 10 theatres and will digitize all the theatres in its network. We plan to invest Rs 1 billion (Rs 100 crores) in the state of Andhra Pradesh for infrastructure improvement and digitization, amongst other developmental activities, in the current fiscal year.”
The company has plans to construct over 25 multiplexes in the state of Andhra Pradesh, for which, theatre and land identification is going on. Pyramid Saimira Theatre is keen on purchasing close to 100 single screen theatres in the next two years in the state. As part of their content fund and production effort, the company will produce more than six Telugu films this year, through its newly formed subsidiary Pyramid Saimira Productions Ltd. The company also plans to purchase around 20 films this fiscal year in Andhra Pradesh, for which, talks are on with producers.
Pyramid Saimira expects more than Rs 120 million (Rs 12 crores) as revenue in the Nizam area alone, through the exhibition and distribution of Sivaji.
