Financial Daily from THE HINDU group of publications
Friday, Nov 05, 2004

News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Corporate - New Projects
Industry & Economy - Real Estate & Construction


Inox Leisure plans to invest Rs 100 cr in phase II expansion

Our Bureau


Mr Shishir Baijal, Chief Executive Officer, Inox Leisure Ltd. - Shashi Ashiwal

Mumbai , Nov. 4

INOX Leisure Ltd plans to invest Rs 100 crore in the second phase of its expansion plan, which includes setting up multiplexes in cities like Bangalore, Chennai, Hyderabad, Kochi and Allahabad.

In the first phase, Inox had made an initial investment of Rs 150 crore to set up multiplexes at Pune, Vadodara, Kolkata, Mumbai and Goa.

The multiplexes in Mumbai and Goa will open to audiences on November 12.

The Mumbai multiplex is located at Nariman Point, the commercial hub of the city and is within the premises of Crossroads.

According to Mr Shishir Baijal, CEO, Inox Leisure, the South Mumbai multiplex required an investment of Rs 50 crore including the cost of property.

The amount has been partly funded by Canara Bank with a debt equity ratio of 1.5:1.

Developed over a sprawling 25,000 sq ft, INOX-Nariman Point has five auditoriums that boast a total seating capacity of 1,335.

"Each auditorium features wall-to-wall stadium style seating. There are Harkness screens, automated masking, fully automated Christie projectors and three way JBL speakers," Mr Baijal said.

This multiplex will release big banner films — Veer Zaara, Aitraaz and Naach; apart from Garfield The Movie, Mughal-e-Azam and the award-winning Marathi film Shwaas.

According to Mr Baijal, the break-even period for a multiplex is around five to six years at 35 per cent occupancy.

"If occupancy goes up, the break-even period could come down," he said.

He feels that the increase in the number of screens will lead to an improvement in content.

Inox Leisure is also inaugurating its Goa multiplex at Panaji next week, which will later host the International Film Festival from November 29 to December 9.

The multiplex, designed and built by Inox, is owned by the Government of Goa, and has been taken on a 15-month lease by Inox, Mr Baijal said.

More Stories on : New Projects | Real Estate & Construction | Entertainment & Leisure | Maharashtra

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
Essar Shipping to sell 5 tankers for Rs 1,150 cr


Jay Shree Tea seeks hike in subsidy on super phospates
Ford Fusion priced at Rs 6.2 lakh
Posco may relocate steel project if Orissa deal fails
ITC launches Sunfeast biscuit in Kochi market
Firms raise $1.5 b through ECBs in Sept
Lodha resigns as statutory auditor for Grasim
IDFC picks 20.6 pc stake in GSPL
Bengal promises full support for Jindal Steel project
Ashok Leyland mulls further capacity expansion
Inox Leisure plans to invest Rs 100 cr in phase II expansion
Chinese co Lifan in talks for setting up bike unit in India
Meso America, Polar Ware tie up for food service industry products
Tata Steel to tie up with Arcelor for flat products unit
Pennar Profiles to appeal against BIFR order
Alstom plans to expand Indian operations
GE Shipping to focus on offshore biz
Tecumseh India's exports touch 4 lakh units



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line