PVR announced the opening of 3 screens multiplex at VVIP Style Mall in Ghaziabad on 31st December, 2017 in a BSE filing. This multiplex is equipped with 4K projection system, next-generation 3D-enabled screens and 7.1 Digital Dolby surround sound in all auditoriums. With this launch, PVR now operates the largest multiplex network with 603 screens at 132 properties in 51 cities.
Earlier in December 2017, PVR had entered into a strategic deal with a South Korean cinema technology company, CJ 4DPLEX, to add 16 4DX screens by the end of 2019 with an investment of ~USD 11mn (~Rs70cr).
PVR is the biggest multiplex chain in India with 603 screens at 132 location spread across 52 cities. Its revenue consisted of ticket sales (59 percent), F&B (28 percent) and ad/sponsorship (13 percent) in FY17. The company is planning to add around 75 screens by end of FY18, raising its total capacity to around 650 screens. This expansion is likely to focus more on tier-II and tier-III cities (~20 percent revenue). It also has plans to expand operations in Sri Lanka, which are likely to commence over the next 2-3 years.
PVR Ltd ended at Rs1,423.65, up by Rs9.85 or 0.7 percent from its previous closing of Rs1,413.8 on the BSE. – India Info Line