PVR Inox Screens Up: 170 New Theaters to Light Up India!

Multiplex chain PVR Inox is set to inaugurate 170 new screens by the conclusion of the fiscal year. Allocating a budget of Rs 600-700 crore for screen expansion in FY24, the company has outlined a similar strategy for the following year.

With 97 screens already introduced in the initial nine months and an additional 70-75 screens anticipated this quarter, the expansion encompasses 20 percent premium formats such as ICE and 4DX. Southern India, representing 40-45 percent of the new openings, is recognized as a key region for growth. In addition to smaller ventures, notable projects in the pipeline consist of a nine-screen development in Ahmedabad, 14 screens each in Bengaluru and Pune, as well as nine screens in Kochi.

Future endeavors involve the incorporation of eight to nine new cities into its portfolio every quarter, while the company anticipates mall and retail expansion in various markets. Focused on profitable expansion, the company has divested from 62 underperforming screens during the initial nine months of the fiscal year. Leveraging a compelling content lineup across all languages, the company is confident in its growth trajectory.

Presently, PVR operates 1,712 screens in 360 cinemas spanning 113 cities in India and Sri Lanka.

News by Rahul Yelligetti