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Our Bureau

Bangalore , Aug. 8

MULTIPLEXES can revive the Indian film industry, which is beset with huge losses.

Film exhibitions in mega-shopping malls are gaining popularity as against traditional single-screen cinema halls. Exhibitors are hopeful of an increase in the number of films produced in the country from the current annual level of 855.

Reflecting this sentiment, Mr Manoj Bhatia, CEO of Inox Leisure, a subsidiary of Rs 640-crore Gujarat Flurochemicals Ltd (GFL), said that multiplexes offer more avenues to exhibitors to increase their revenues by being vehicles for service products. Besides, said Mr Bhatia, the availability of more screens could give an impetus to a different genre of films as against the formulae-ridden products being rolled out now.

Multiplexes are making the film exhibition business more professional with a transparent accounting system. This, in turn, reassures the film production business of better returns. Multiplexes are also expected to boost businesses in shopping malls, Mr Bhatia said.

Inox Leisure, which aims at establishing a national multiplex chain, plans to invest an additional Rs 100 crore in the next one year to set up five more multiplexes in Jaipur, Chennai, Indore, Lucknow and Hyderabad, where it will be locating its facility in the GVK Mall.

Inox has already invested Rs 165 crore in setting up multiplexes in cities such as Mumbai, Pune, Kolkata, Vadodara and Goa. Last week, Inox entered the Southern market by foraying into Bangalore.

Mr Bhatia said that though Inox has a pie in the film production with a co-investment in the latest Amir Khan starrer `The Rising — Ballad of Mangal Pandey,' film exhibition would continue to be the focus area of Inox's business.

Inox Leisure has recorded a 100 per cent year-on-year growth from Rs 16.05 crore in its revenues in 2002-03 to Rs 30.16 crore in 2003-04.

With the retail-cum-multiplexes model taking strong roots, the film exhibition business is expected to become more viable. An average four-screen multiplex guarantees footfalls of 8,000 to a 120,000 a month.

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