The Hindu Business Line : PVR Cinemas to take total screens to 75 by fiscal-end

PVR Cinemas, one of the leading cinema chains in the country with 50 screens spread across multiple locations, plans to add 25 more by the end of this fiscal. This includes seven more in Chennai and two more in Hyderabad.

The Executive Director of PVR Ltd, Mr Sanjeev Kumar Bijli, said the company entered the capital market and raised Rs 150 crore recently and expects to invest about Rs 350 crore in the next two years taking the overall number to about 200 screens from about 75 it expects to complete by the end of this fiscal.

Speaking to newspersons after the launch of its five-screen facility, three of them operational, at Hyderabad Central, Mr Bijli said PVR is in the process of commissioning a seven-screen centre in Chennai, a 10-screen centre in Ludhiana, while looking at establishing 22 screens in Mumbai.

The Hyderabad movie centre, which will eventually have five screens, has been taken on lease from Hyderabad Central. The company has invested about Rs 10 crore. Typically, one screen requires an investment of about Rs 1.5-2 crore. During the first nine months ended December 2005, PVR entertained 6.5 million moviegoers.

Referring to the company's plans, Mr Bijli said: "the funding for expansion would have a debt-equity in the ratio of 1:1. This would cover Mumbai, Delhi, Indore, Gurgaon, Lucknow, Chennai, Ludhiana, Aurangabad and Latur. If an opportunity presents, we could also look at other cities like Visakhapatnam."

The Hyderabad centre has been designed by J&W, a London-based consultant and provides a distinctly different ambience and seating facility, backed by eating joints.

On order, they could have the food item served in the theatre.

Referring to its 11-screen centre in Bangalore and multiple theatre concept, Mr Bijli said: "With the Hyderabad foray, we aim to cater to the strong multi-lingual base in the city providing customers world-class entertainment and a different movie experience. It is not just a multiplex that screens films but a value-added entertainment destination where various leisure activities are blended together to provide enhanced experience."