Companies

PVR eyes multi-pronged strategy to grow its multiplex footprint

Meenakshi Verma Ambwani New Delhi | Updated on November 11, 2019 Published on November 11, 2019

File photo   -  Reuters

Leading multiplex chain PVR Ltd is adopting a multi-pronged strategy of tapping into micro-markets in big cities and at the same time it is entering new tier-3 and tier-4 territories through its low-cost multiplex model PVR Utsav.

On Monday, PVR unveiled its Superplex cinema at Dwarka in New Delhi with 12 screens, which is its largest in the capital city and offers various formats including IMAX, 4DX, Playhouse and Luxe. Earlier this month, it opened its first international property in Colombo in Sri Lanka.

The company, which aims to touch the 1000-screen mark by 2020, currently operates 821 screens.

Sanjeev Kumar Bijli, Joint Managing Director, PVR Ltd told BusinessLine, “We are on track to add 100 screens in this fiscal year alone. We do a gap analysis to look at potential for growth in both existing cities as well as new towns and cities.So we are focused on strengthening our presence in large cities by tapping into micro-markets like we have done with our expansion in Dwarka in New Delhi. At the same time, PVR Utsav will be a key growth pillar for us to tap into tier-3 and tier-4 markets.”

The company first ventured into large-format multiplex segment with more than 11 screens in markets like Bengaluru and Chennai to cater to movie buffs who like to enjoy content in multiple languages such as Tamil, Telugu and Kannada in the southern region.

“ We opened our first PVR Superplex in the northern region at Noida about four year ago and that has been doing very well. This gave us the confidence to now launch a PVR Superplex in Dwarka. Next, we are looking at opening Superplexes in markets such as Hyderabad, Kolkata and Lucknow,” he said.

The multiplex chain also has a strong pipeline for expansion in smaller towns and cities under its sub-brand PVR Utsav, which is its low cost multiplex model with tickets priced in the range of Rs 100-130. “ We have signed 45 screens under the sub-brand PVR Utsav, that will open in the next two-three years,” Bijli added.

As far as international expansion is concerned, the company plans to open a second property in Colombo and is also exploring opportunities in other cities in Sri Lanka such as Kandy and Galle.

Published on November 11, 2019
This article is closed for comments.
Please Email the Editor