May 13, 2019

PVR Eyes Adding 35 Screens To Premium Portfolio In Next 18-20 Months

PVR Cinemas is planning to add 35 screens to its premium portfolio in the next 18-20 months. Presently, Multiplex chain operator is operating 771 screens at 165 properties in 67 cities, with premium screens comprising 10% of it.

 

PVR added 65-80 screens a year across all formats in the past. The momentum is expected to continue going forward. The company operates 77 premium screens, which includes 4 of Director's Cut, 31 of Gold Class, 2 of LUXE, 8 of IMAX, 15 of 4DX, 6 of P[XL], 8 of Playhouse and 1 of PVR Onyx across India.

 

Gautam Dutta, Chief Executive Officer of PVR Cinemas, said, "We should be able to add another 30-35 screen to our current 77 premium screens in another 18 to 20 months. Majorly metros and mini-metros are currently looked at this."

 

"We normally spend Rs 3 crore per screen but in a premium, it will be 50-100 percent more capex on these screens. The new formats like 4D have seen the phenomenal response and there is higher occupancy, higher ticket prices, a higher propensity for consumers to come back and watch more movies in those auditoriums," he further stated.

 

The food and beverage contribute 30% of the company’s revenue.

 

Post expansion, the food and beverage contribution from the premium screens would be 50% more than the normal screens.

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