PVR Plans To Operate 1,000 Screens By FY24-End

The business, which on Monday passed the landmark of 900 screens, would spend roughly Rs 300 crore to build another 100 screens

The multiplex operator intends to setup 1,000 screens by the end of FY24 by adding 100 more screens over the next 15 months, according to Sanjeev Kumar Bijli, joint managing director of PVR..

The business, which on Monday passed the landmark of 900 screens, would spend roughly Rs 300 crore to build another 100 screens, according to Bijli.

According to Bijli, PVR is searching for smaller, underserved cities that have "huge potential."

The company is expanding by entering newer cities, particularly in the south and east of the nation, where it has a very little presence.

Bijli said that PVR will not be expanding further in foreign markets and would instead concentrate on home expansion, which offers promising potential.

When questioned about growth, Bijli responded that PVR would add 30 screens this quarter. Additionally, a few of the displays that are now being fitted out will be operational in the March quarter.

The company would invest roughly Rs 300 crore to open 100 screens in the upcoming 15 months, according to Bijli, who stated that they are now aiming to have 1,000 screens by FY24.

PVR and Inox Leisure announced their merger on March 27 of the previous year. This has received the endorsement of their respective owners, creditors, and top stock exchanges NSE and BSE.

After the merger, they would have 1,600 screens, said Bijli.

On Monday, PVR added 19 additional screens by opening three new multiplexes in Jaipur, Bengaluru, and Gurugram. With these most recent additions, PVR has built a chain of 900 screens over 181 venues in 78 cities throughout the course of its 25-year history.

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