PVR, the largest premium film entertainment company, is all set to unveil its 15 screen Superplex on March 27 in Noida.
The Superplex worth Rs 45 crore is planning to take the total number of screens for PVR to 516 all over the country. It will strengthen their position as the leader in the entertainment industry.
“Superplex”, the largest multiplex in India, on March 27 in Noida and has earmarked an Capex of Rs. 130-140 crore for new screen development next fiscal. We will have 516 screens with the opening in Noida and we are looking at adding 60 more screens every year. This fiscal we did 52 screens and we should be able to open about 60 screens next year. Of this, we have only one Superplex coming up in Bangalore, which would be at 12 screens. We would like to do more Superplexes’, because that is what we think is the future, but it is also a function of the space that we get from our developers and the size of the malls they are building,” Joint Managing Director, PVR Ltd, Sanjeev Kumar Bijli was quoted by Economic Times as saying.
Bijli further mentioned that next 60 screens will target cities like Bangalore, Hyderabad, Lucknow, Moradabad, Baroda. As per him, PVR’s internal accruals are quite strong and they are not looking for any outside funding to support their expansion.
“This has resulted in better numbers for us and we are very happy with our growth, which has been spurred by some blockbuster hits. It has been the kind of year that we can hope for and like. Next year, on paper, with the lineup of movies and our new screens, it looks a fairly good fiscal,” Bijli was quoted by Economic Times as saying.