Mumbai-based film production company Mukta Arts, which runs multiplex chain under the brand name 'Mukta A2 Cinemas', plans to add around 25 screens by 2021 taking its total count to around 100 screens, according to a top company official.
Mukta Arts, founded by Bollywood producer and director Subhash Ghai, is planning to invest around Rs 50 crore in the next two years for expansion of the multiplex chain, primarily targeting the budget segment viewers from tier-II and III cities in the domestic market.
Besides, the company, which also has overseas presence and operates six screen in Bahrain, has plans to expand its operation abroad.
"We currently have 74 screens across India and abroad. We are looking at cities like Chennai and Bengaluru to expand to 100 screens by the calendar year 2021," said Mukta Arts Managing Director Rahul Puri.
Mukta Arts would be investing "over Rs 50 crore to reach our targets within the next two or two and a half years," he said adding that "the company is evaluating various ways to raise the funds required for the expansion".
On being asked about the projection for the coming 3-4 years for Mukta A2 Cinemas, Puri said, "We intend to double the number of screens."
According to its business strategy, the company would continue to focus on the Bahrain market in the gulf region and expand there.
"We have a six-screen multiplex at Manama in Bahrain. We will be making an announcement shortly about expansions in Bahrain. At the moment, Bahrain is an area of focus for us as Dubai is fairly saturated," he added.
In the domestic market, Mukta Arts is currently reviewing properties in Bihar and Assam.
Mukta A2 Cinemas' turnover at the end of the third quarter of the financial year 2019-20 stood at Rs 65 crore.
Currently, Mukta A2 Cinemas gets around 60 per cent revenue from ticket sales, 30 per cent from food and beverages and the remaining 10 per cent from advertisement.
Subhash Ghai and his family owns 70 per cent stake in Mukta Arts, which in turn owns 70 per cent in Mukta A2 Cinemas.
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