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Leading film exhibitor PVR has plans to add more screens under luxury formats and aims to have 20 per cent of its total screens under this category in the near future, said a top company official.
Terming luxury formats as more experiential in nature, PVR Joint Managing Director Sanjeev Kumar Bijli said it is the need of the times so that people come out of their homes to watch movies in cinemas after the pandemic.
"PVR currently has 12 per cent of its total screen portfolio allocated to the luxury screen formats. We are keen to grow this share of screen portfolio to 20 per cent as we open new cinemas in the near future," said Bijli.
PVR, as per its strategy to grow the luxury screen format, on Friday announced to sign agreement realty firm M3M India to set up an eight-screen multiplex at 65th Avenue, a luxurious retail project in south Gurugram.
"Our eight screen multiplex in M3M India's 65th Avenue will also host luxury formats such as LUXE, 4DX and a premium P[XL] auditorium with an extra-large screen, Bijli added.
M3M India's 65th Avenue is one of the most luxurious retail properties, located near M3M Golfestate and Trump Towers, at prime Golf Course Road, South Gurugram.
Pankaj Bansal, Director-M3M India, said: "PVR has defined luxurious multiplex experience to movie lovers in India. It has become a synonym for movie lovers. We are delighted to partner with PVR and welcome them to M3M India's 65th Avenue. The 65th Avenue has been conceptualised as a high-end experience and association with best of the brands has given 65th Avenue its niche position."
PVR currently operates a cinema circuit comprising of 860 screens at 179 properties in 73 cities in India and Sri Lanka.
It offers several formats in the premium screen category, which includes Director's Cut, LUXE, Sapphire, IMAX, 4DX, P[XL], Playhouse and PVR Onyx across the country.
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