Cinepolis India, the only international multiplex chain to operate in India, plans to double its screen footprint this year. In the past, the multiplex industry faced hurdles in expansion due to delays in mall development, because of the slowdown faced by the real estate sector.

Milan Saini, Managing Director, Cinepolis India, said, “Our pipeline is starting to flush out and we expect to have over 100 screens operational this year.” The company has 49 screens operating in non-Metros such as Amritsar, Ludhiana, Patna, Bangalore, Bhopal, Ahmedabad, among others, as it believes in tapping into fast-growing regions.

Saini said the company plans to open 20 screens across multiplexes at Hyderabad, Hubli and Jaipur and also enter Mumbai.

For its next phase of growth, the Mexican cinema chain will also focus on larger format of multiplexes called megaplexes. On the cards will be the opening of a 15-screen megaplex at Pune, a 14-screen multiplex at Thane and another 11-screen plex at Kochi. These plexes will also mark the launch of the company’s luxury format — Cinepolis VIP.

“We believe larger format multiplexes will be more relevant and sustainable in the long-term,” said Saini. Asked how the company plans to take the format of megaplexes to smaller cities, he said it would focus on opening multiplexes with screens in the range of 8-15 screens, as it is targeting cities with over a million population.

Investment

The company expects to invest nearly Rs 650-700 crore in the next three years on organic expansion.

The multiplex industry has witnessed consolidation with a wave of acquisitions. Last year, Cinepolis, was said to have been in talks with various players for acquisitions. Without giving out details, Saini said the company is open to evaluating inorganic growth opportunities.

>meenakshi.v@thehindu.co.in

Related Topics
comment COMMENT NOW