PVR Inox Invests Rs 500 Cr in 150 Screens, Eyes Luxe Market

Multiplex operators PVR Inox are set to embark on an ambitious expansion plan in the upcoming financial year, investing Rs 500 crore to add 150 screens. The focus of this expansion is on enhancing premium and luxury cinema formats. Recently, on November 30, 2023, the company unveiled its second Maison cinema at the Jio World Plaza in Mumbai.

This new Maison cinema is equipped with two Insignia screens, one IMAX screen featuring cutting-edge laser technology, and three premiere screens. Notably, PVR Inox is eyeing the introduction of premium formats in tier-two and tier-three cities. The company is also looking towards international expansion, particularly in Sri Lanka, where it plans to add more screens following the positive reception of its first venture in the capital.

In a strategic move in December 2022, PVR Inox collaborated with the French exhibitor CGR Cinemas to introduce the high-end immersive cinema experience (ICE) Theaters format to the Indian audience. This format incorporates side panels that, alongside the main screen, create a peripheral vision, enhancing the overall immersive experience with a striking interplay of colors and motion.

Currently, PVR Inox manages a vast network of 1,711 screens spread across 359 properties in 114 cities, inclusive of its property in Colombo. With these expansion initiatives, the company aims to solidify its presence in the entertainment industry and provide diverse cinematic experiences to audiences across the country and beyond.

News by Rahul Yelligetti