{"id":82289,"date":"2023-01-09T18:48:00","date_gmt":"2023-01-09T13:18:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=82289"},"modified":"2023-01-09T18:46:11","modified_gmt":"2023-01-09T13:16:11","slug":"biz-pvr-expansion","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-pvr-expansion\/","title":{"rendered":"PVR aims to become 1,000-screen film exhibitor by FY24; to invest Rs 300 crore to add 100 screens"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3536469179\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Multiplex operator PVR aims to operate 1,000 screens by the end of FY24, by adding 100 more screens in the next 15 months, the company&#8217;s Joint Managing Director Sanjeev Kumar Bijli said.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-157089801\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The company, which on Monday achieved the milestone of 900 screens, would invest around Rs 300 crore to add another 100 screens, Bijli said.<\/p><p>As part of the expansion, the company is entering into newer cities, especially in the south and east parts of the country, where it has a negligible presence.<\/p><p>PVR is looking for smaller cities, which are unserved and have &#8220;high potential&#8221;, said Bijli.<\/p><div class=\"trade-content_5\" id=\"trade-3886646413\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>When asked about expansion, Bijli said, in the current quarter, PVR would add 30 screens. Moreover, some of the screens which are currently under fit-outs would also be ready for operation in the March quarter.<\/p><p>&#8220;We are now aiming to have 1,000 screens by FY24,&#8221; said Bijli, adding, &#8220;the company would invest around Rs 300 crore to open 100 screens&#8221; in the next 15 months.<\/p><p>Besides India, PVR has a small presence in Sri Lanka where it operates nine screens.<\/p><p>Bijli ruled out any further overseas expansion of PVR, saying &#8220;we are not looking at any other markets&#8221; and would focus on domestic expansion, which has good opportunities.<\/p><p>About the business, Bijli said the current contents pipeline (for films) is encouraging.<\/p><p>Last year on March 27, PVR and Inox Leisure announced their merger. This has been approved by their respective shareholders, creditors as well as leading bourses NSE and BSE.<\/p><div class=\"trade-content-10\" id=\"trade-2777725155\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The company expects the remaining formalities to be over by the end of this fiscal.<\/p><p>&#8220;Post-merger, we would have 1,600 screens,&#8221; Bijli added.<\/p><p>PVR on Monday opened three new multiplexes in Jaipur, Bengaluru and Gurugram, adding 19 screens. With these latest additions, PVR has created a chain of 900 screens across 181 properties in 78 cities during its journey of 25 years. PTI KRH HVA<\/p><div class=\"trade-after-content\" id=\"trade-252961483\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Multiplex operator PVR aims to operate 1,000 screens by the end of FY24, by adding 100 more screens in the next 15 months, the company&#8217;s Joint Managing Director Sanjeev Kumar Bijli said. The company, which on Monday achieved the milestone of 900 screens, would invest around Rs 300 crore to add another 100 screens, Bijli [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":17460,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-82289","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>PVR aims to become 1,000-screen film exhibitor by FY24; to invest Rs 300 crore to add 100 screens - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Multiplex operator PVR aims to operate 1,000 screens by the end of FY24, by adding 100 more screens in the next 15 months, the company&#039;s Joint Managing Director Sanjeev Kumar Bijli said.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-pvr-expansion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PVR aims to become 1,000-screen film exhibitor by FY24; 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