Cinemax , the largest multiplex chain in Mumbai with 36 existing screens, is getting bigger by adding four more with the launch of its new property at Ghatkopar on September 19.
The new set-up will open in R Odeon Mall at Ghatkopar and will host a total of 1,250 seats. Initially, operations would commence at two screens (Screen I having a capacity of 341 patrons and Screen II 239 patrons). The other two screens will start soon thereafter.
The Mumbai-based Kanakia group, promoter of the Cinemax chain of multiplexes, had recently launched its property in January at Kalyan near here. The new facility in Mumbai will be the only new property for this financial year.
“In Mumbai, we already have 36 screens and, with this new property, we are just becoming bigger and strengthening our top position in terms of multiplex chains. The Cinemax – R Odeon Mall at Ghatkopar took an investment of Rs 8 crore. We aim to have 30-odd screens with an investment of Rs 60 crore by the end of this financial year,” Senior Vice-President Devang Sampat said.
Cinemax, which entered the film exhibition industry in 1997 with a single screen at Goregaon in Mumbai, currently operates 28 multiplex properties with 74 screens in cities like Kolkata, Ahmedabad, Mumbai, Guwahati and Nashik. The company is now going to make its debut in Kanpur with an investment of Rs 6 crore.
By the end of the financial year, the company is also aiming at increasing footfalls at its properties from the current 10 lakh to 12 lakh per month.
Cinemax, in the June quarter of 2009-2010, had reported a loss of Rs 4.6 crore. It had a profit of Rs 3 crore in the same period last year. It now expects the third quarter to be good.
“The quarter beginning from October is clearly big for all multiplexes as there are big Bollywood movies lined up for release, like Blue, Main aur Mrs Khanna, Three Idiots and many more,” said Sampat.
