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Film distribution and production house PVR Pictures, a 60 per cent subsidiary of the listed PVR, will invest around Rs 100-125 crore in FY 12 to up its distribution activities and production of 3-4 Bollywood movies, a top company official said.
JP Morgan Mauritius Holding Ltd and ICICI Venture each hold 20 per cent stake in PVR Pictures, that came into existence in 2005 with its first production Aamir Khan-starrer ’Taare Zameen Par’, that released in 2007. The company is close to inking four distribution deals for Hindi movies and 15 Hollywood movies.
“We will invest around Rs 100-125 crore in the coming fiscal. We have three movies under our production house. Besides we will be signing distribution deals for 15 Hollywood and four Hindi movies. All are set to release in FY 12,” said Mr Kamal Gianchandani, President, PVR Pictures.
The company has produced around nine movies so far, including blockbuster ‘Jaane Tu Ya Jane Na’, Ashutosh Gowariker’s ‘Khelenge Jee Jaan Se’ and ‘Aisha’. On revenues the company expects from its upcoming movies, Gianchandani said, PVR pictures expect a 10 per cent increase in its earnings in FY 12.
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