PVR rises on opening 3 new multiplexes in India

PVR gained 2.12% to Rs 1,663.65 after the cinema chain operator announced the opening of three new multiplexes in Jaipur, Bengaluru and Gurugram with a total count of 19 screens.

PVR has launched 8-screen multiplex in Rajasthan, 7-screen multiplex at Bhartiya Mall of Bengaluru at Bhartiya City and 4-screen multiplex in Haryana with Elan Town Centre.

With the launch of its launch of its 8-screen multiplex, the largest in Rajasthan introducing premium screen formats like 4DX and LUXE for the first time in the state. The property located at Mall of Jaipur has a seating capacity of 944 audiences with plush recliners and theatrical solutions including SP4K Laser projectors, Dolby Atmos audio and Next-Gen 3D technology, PVR said in a statement.

 

The 7-screen multiplex at Bhartiya Mall of Bengaluru at Bhartiya City has a seating capacity of 1,343 audiences featuring premium screen formats including the 4DX and P[XL]. The 4-screen in Haryana with Elan Town Centre multiplex has a seating capacity of 561 audiences with last row recliners, SP4K Laser projectors, Dolby 7.1 audio and Next-Gen 3D technology.

Ajay Bijli, chairman and managing director of PVR said, With the opening of the 3 new properties on a single day, we have successfully reached 63 screens in our overall commitment of opening 100 screens by FY 2023.

We are now looking forward to the next milestone of 1000 screens and are fueled with the passion to provide a more delightful cinematic experience to the people across geographies and demographics, said Sanjeev Kumar Bijli, joint managing director at PVR Limited.

PVR now operates the largest multiplex network with 903 screens at 181 properties in 78 cities (India and Sri Lanka).

PVR is an industry leader in India in the film exhibition business dedicated to delivering the best cinema experience to different audiences.

PVR reported a consolidated net loss of Rs 71.5 crore in Q2 FY23 as against a net loss of Rs 153.3 crore in Q2 FY22. Total revenues jumped by 155.5% YoY to Rs 703.1 crore during the quarter.

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