 "PVR banking on online sales, more screens")
The country's largest movie screening company, PVR Ltd, plans to generate 37 per cent of its ticket revenue from online channels within a year.
PVR currently receives 32 per cent of its ticket revenue via online sales. It is going from its recent tie-up with Paytm.
The multiplex major is also gearing up to add 60 to 80 screens a year with investments up to Rs 200 crore, with a focus on catering to the budget segment.
PVR has nearly doubled its net sales in the past three years to Rs 1,386 crore in 2014-15 from Rs 671 crore in 2012-13. Its screen count touched 516 in March 2016 from 402 in December 2013, through organic expansion and acquisitions.
The company is contemplating options to offload some its present assets to complete its buyout of DT Cinemas. The deal will add 29 screens to PVR's kitty in the National Capital Region.
While its current expansion plans involve investments, Ajay Bijli, chairman and managing director, is not looking for any divestment in the near future.
"Ours is a capital-intensive business, where you need investors. To grow organically, by adding 60 to 80 screens, we need some Rs 200 crore a year which can be met through internal accruals," he said. Between July and December 2015, the promoter group divested some 3.5 per cent shares, which brought its holdings to 26.03 per cent from 29.5 per cent earlier.
The company is not over with acquisitions, says Gautam Dutta, chief executive.
In the past, PVR acquired several small and large companies like CineMAX which gave it leverage and helped it become the top in the sector.
