PVR’s Roadmap to Expand its Film Exhibition Business

PVR’s Roadmap to Expand its Film Exhibition Business

From a 450+ screen company in 2015 PVR aims to become a 1000 screen company by 2018.
So after acquiring Cinemax in 2012, PVR now aims to acquire DT Cinemas, DLF Utilities Limited for Rs 500 crore.
DT Cinemas currently operates 29 screens with approximately 6,000 seats across 8 properties in the National Capital Region (NCR) and Chandigarh. In the next 12 months, DT plans to add 10 new screens at two properties in the NCR. Currently PVR has 467 screens across 105 locations in 43 cities. Post the acquisition, PVR’s presence will increase to 44 cities with 115 multiplexes and 506 screens.
Commenting on the deal Ajay Bijli, CMD, PVR Ltd. said, “It has been our strategy to expand our film exhibition business both organically and inorganically over the years. This acquisition is in pursuance of our core strategy to offer a world class cinema experience to the discerning Indian consumer” whereas Mr. Sriram Khattar, CEO, DLF Rental Business said “We are pleased to sell DT Cinemas to PVR which is a high quality provider of cinema experience. Combining our unrelenting focus on providing a wholesome experience at our malls with PVR’s deep knowledge of the cinema business, we look forward to continue enhancing our best in class offerings for the customers.”

Read more at ForbesIndia