PVR to invest Rs 400cr, add 250 screens in 3 yrs

PVR, the multiplex operator company, will invest Rs 400 crore in the next three years to set up 250 new screens across the country.

PVR Chairman and Managing Director Ajay Bijli said, "Our idea is to expand the PVR brand both in metro and non-metro cities. We will be setting up 250 new screens in the next 36 months, which could entail an investment between Rs 300-400 crore".

The company today launched its premium brand of multiplex 'PVR Premiere'.

The company is targeting metros and cosmopolitan cities in the country to set up 30-40 screens of the new brand by 2010. We are also planning to expand PVR Cinemas in 30 selected cities in the country, Bijli said.

On funding of the expansion, Bijli said it could be a mix of equity, debt and internal accruals.