PVR plans Rs 400 cr investment for 250 screens in 3 years
PVR said it would invest Rs 400 crore in the next three years to set up 250 new screens across the country, which would include its newly introduced premium halls.
“Our idea is to expand the PVR brand both in metro and non-metro cities. We will be setting up 250 new screens in the next 36 months, which could entail an investment between Rs 300-400 crore,” PVR Chairman and Managing Director Ajay Bijli told .
The company today launched its premium brand of multiplex ‘PVR Premiere’, as it targets urban population. He said the company was aiming for about 15-20 per cent of its revenues to come from the premium multiplexes. Six PVR Premiere multiplexes are to be set up at places including Gurgaon, Mumbai, Bangalore, Kolkata.
Bijli said the company would also give equal emphasis on Tier-II and III cities, where it plans to spread its ‘PVR Talkies’.
“In the metros, our plan is to set up 30-40 screens of the new brand by 2010. We are also planning to expand PVR Talkies in 30 select cities in the country,” Bijli said.
Currently, the company has 89 screens in 24 complexes across 14 cities in the country.
This fiscal, the company is adding 31 screens with a total capacity of about 8,000.
