)
Leading multiplex chain operator PVR said it would launch its nine-screen multiplex and two ultra-premium cinemas in Mohali by year-end. The multiplex would boast the maximum number of screens among the state's theatres.
"We expect the mall in Mohali to be ready by August-September, and we would be able to launch our multiplex by year-end," said Senior Vice-President (Client Service) Shalu Sabharwal, while talking to Business Standard. She added that in the northern region, new screens would come up at Mohali and Pathankot in Punjab and Panipat in Haryana.
Meanwhile, it announced the launch of its second multiplex in Chandigarh at Elante Mall, the largest mall in the city, developed by Larsen & Toubro Realty Ltd, a subsidiary of L&T group. The eight screen cinema is spread across an area of 70,000 sq. ft. With the launch of PVR in Chandigarh, its screen count will increase to 382 screens in 88 cinemas and presence in 36 cities across India.
She added that the multiplex incorporates the best in cinema technology such as 2K Digital projection, 7.1 Dolby surround sound, 3D enabled silver screens and a combination of JBL 3-way and 4-way speakers.
She added, "The Northern part of India has always been a crucial market for us and the opening of the largest multiplex in the Punjab and Haryana is certainly a step in the right direction. In Northern region, the new screen would come up at Mohali and Pathankot in Punjab and Panipat in Haryana. Going further, we will continue with our aggressive growth plan for extending our footprint across the country."
The company would invest about Rs. 60-80 crore to open another 50-60 screens across the country in the current fiscal. She added, " Most of the malls in the country are nearing completion, so we expect to roll out 50-60 screens in the current fiscal with an investment of Rs. 60-80 crore." She added that new screen would be fairly spread out in Tier-I, Tier-II and Tier-III cities.
The national capital-based firm, which acquired rival Cinemax recently, has 382 screens in 88 cinemas.
