Pyramid to invest Rs 250 million in Kerala

MUMBAI: Pyramid Saimira Theatre Ltd (PSTL) has forayed into the Malayalam film industry and will be pumping in a total of Rs 250 million (Rs 25 crores) initially for the same.

Initially, the company will be leasing 150 theatres that will have the Pyramid Saimira branding in cities like Thiruvananthapuram, Kannur, Allapuza, Karunagapally, Thalassery, Vadakara, Payyannur, Manathavady, Kalpetta, Sulthan Bathery, Punalur, Anchal and Varkala. Biometric cards for Rs 100 a month via which one can watch any number of movies every month will also be introduced.

Through its film production subsidiary – Pyramid Saimira Productions – the company will also produce over 10 Malayalam films in a year.

Pyramid Saimira Theatre Ltd managing director PS Saminathan said, “The company has received the national distribution rights for Pardesi, featuring Mohanlal, which is slated for release on 12 October. PSTL will also distribute Ram Gopal Verma Ki Aag, featuring Amitabh Bachchan and Mohanlal, slated for release on 31 August, across Kerala.”

Pyramid Saimira Theatre director N Narayanan said that the main priorities of the company were modernisation of theatres, which included the setting up of multiplexes, improving distribution and marketing of Malayalam films and implementing advanced filmmaking technology.

The company has a total of 371 leased theatres in south Indian states like Tamil Nadu, Karnataka and Andhra Pradesh. “We plan to be present in 1,550 locations across the country with over 2,000 leased theatres by 2010,” Saminathan said.