PVR today launched PVR Premiere, its premium brand of multiplexes. The company plans to invest Rs 400 to set up 250 new screens across the country by 2010.
“Our idea is to expand the PVR brand in metro and other cities. We will set up 250 new screens in next 36 months, which could entail an investment between Rs 300 and Rs 400 crore,” said PVR Chairman and Managing Director Ajay Bijli.
The company is targeting metros to set up 30-40 screens under the new brand by 2010. Plans are afoot to expand PVR cinemas in 30 selected cities.
“Funding for expansions could be a mix of equity, debt and internal accruals,” said Bijli.
– Bengaluru Bureau