To spread its footprint across India, Delhi-based multiplex operator Satyam Cineplexes is looking at South India as an important market. By the end of 2012, it plans to have 40 per cent of its screens in the southern region, the company said.
“We are targeting North and South India, with a major thrust on South,” Deven Chachra, MD, Satyam Cineplexes, informed IndiaRetailing.
The company currently has close to 20 screens and plans to have at least 50 screens by the end of 2011.
On the rental model with malls, Chachra said, “Satyam Cineplexes will have minimum guarantee as well as revenue sharing.”
The company reported a turnover of Rs.55 crore in FY’10 and expects to close the ongoing fiscal at Rs.67 crore, Chachra said.
Satyam Cineplexes is a fully-owned multiplex chain of Superior Films Pvt Ltd. It opened its first cinema in in 1980s in Central Delhi.