Companies

PVR set to add 90-100 screens in the next 12 months

Meenakshi Verma Ambwani New Delhi | Updated on October 21, 2021

The company on Wednesday announced the launch of its six-screen luxury boutique multiplex property, PVR Maison at JioWorldDrive in Mumbai

Expects to see strong recovery trends in fourth quarter as Covid restrictions get eased

As most States including Maharashtra are now easing restrictions on cinemas, leading multiplex chain PVR Ltd said its expansion plans are getting back on track and its looking to open 90-100 screens over the next 10-12 months. The company on Wednesday announced the launch of its six-screen luxury boutique multiplex property, PVR Maison at JioWorldDrive in Mumbai.

In recent times, it has also revamped its flagship properties at PVR Priya and PVR Saket in New Delhi.

Gautam Dutta, CEO, PVR Ltd told BusinessLine, “We now have a pipeline of about 90-100 screens which we plan to open in the next 10-12 months in a staggered manner. These screens were due to open last year but got delayed due to the pandemic. In the pre-Covid times, we use to add about 80-100 screens annually. So now, we are getting back on track with our expansion plans.”

New releases

After challenging times due to consecutive pandemic waves, cinemas in the country are gearing for a hectic season with big ticket Hindi movies set to hit the box office starting November. Meanwhile, regional movies are already witnessing strong traction. For instance, Diljit Dosanjh starrer Punjabi film, Hosla Rakh released on October 15, has been a huge hit.

“In Punjab, we saw new regional film content getting released and it did exceedingly well. We are seeing strong recovery trends in this circuit and the numbers are better than even pre-Covid times. The Southern region too is booming back. It’s a clear indication that once new content flows, we will embark on a strong recovery journey at a national level. We will see a robust content pipeline from November and we believe that in the fourth quarter of the fiscal year the industry will bounce back strongly,” Dutta added.

PVR Maison

The company’s latest addition, PVR Maison is its most luxurious property with a seating capacity of 882 audiences and features luxurious lounges, libraries with art and curiosities, grand living rooms, sophisticated open kitchens with premium food concepts and private screening options.

Stating that its equivalent to a seven-star property of PVR, Dutta added, “We plan to have atleast one of our luxury concepts such as PVR Maison or Director’s Cut in the big cities. In fact, in the large metros we are also aspiring to have more than one luxury property. While movies will always be an important piece, we believe consumers are increasingly looking for experiences beyond just the movies. We have been enhancing hospitality and engagement with consumers in-line with their evolving needs.”

With the theatres set to open in Maharashtra from this Friday, the company said opening of cinemas in the State is extremely important for its business as it has the highest screen presence in this circuit. The leading multiplex chain now operates 855 screens at 178 properties in 72 cities across India and Sri Lanka.

Published on October 20, 2021

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