PVR

Leading multiplex operator PVR INOX Ltd on Saturday announced the launch of a campaign to spread awareness about climate change and has joined hands with Bollywood actor Bhumi Pednekar. PVR, which after its merger with INOX Leisure operates over 1,600 screens pan India, is taking steps to reduce the carbon footprint by pursuing sustainable activities in its operations. "We have started many initiatives such as replacing all plastic usage inside the cinema halls with biodegradable materials such as paper cups, cutlery plates etc. We have water and electricity conservation plans where we would replace LED light, sensors in common areas etc," PVR INOX Executive Director Sanjeev Kumar Bijli told PTI. With this, PVR INOX would save 2,000 tonnes of carbon footprints in a year by taking these sustainable steps, he added. It has replaced single-use plastic served to customers by sugarcane bagasse food containers, and coated paper straws made of biodegradable polymers, said Bijli. Besides,

After merging with INOX Leisure Limited, PVR Limited announced the opening of Lucknow's largest cinema in Lulu Mall. The 11-screen Superplex will increase the company's presence in UP

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Leading multiplex operator PVR is working on "getting economies of scale" after the merger of rival Inox Leisure and expects a double-digit growth in its top-line in FY24, said managing director Ajay Bijli. PVR is working on synergies on revenue from ticket prices, food & beverage, advertising, and operating costs, he said, adding that the merged entity has plans to add 200 screens every year, and tap the potential of smaller markets. "If you look property by property, in certain places there are disparities in the ticket price. There are opportunities for improving programming, and scheduling the peak-hour ticket pricing," Bijli told PTI. Besides, some of the properties would also have to be upgraded, he said. "We both are operating in the same environment and look at the demographics in a similar way. But whatever tweaking needs to be done for both brands to give a consistent experience, we are working on it," Bijli added. When asked about the growth in terms of the top-line of

With this launch, PVR Cinemas has consolidated its foothold in Haryana with 50 screens in 13 properties and 286 screens across 65 properties in North

Ajay Bijli, Chairman and Managing Director, PVR Ltd, talks about Union Budget 2023

According to analysts, key medium-term trigger for the stock will be the proposed merger with INOX, which likely to be consummated within a month

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The company said it is on track to open a total of 100-110 new screens by the end of this fiscal year

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The country's largest and second-largest theatre chains, namely, PVR and Inox, received the final approval for their proposed merger on Thursday

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Multiplex operator PVR aims to operate 1,000 screens by the end of FY24, by adding 100 more screens in the next 15 months, the company's Joint Managing Director Sanjeev Kumar Bijli said. The company, which on Monday achieved the milestone of 900 screens, would invest around Rs 300 crore to add another 100 screens, Bijli said. As part of the expansion, the company is entering into newer cities, especially in the south and east parts of the country, where it has a negligible presence. PVR is looking for smaller cities, which are unserved and have "high potential", said Bijli. When asked about expansion, Bijli said, in the current quarter, PVR would add 30 screens. Moreover, some of the screens which are currently under fit-outs would also be ready for operation in the March quarter. "We are now aiming to have 1,000 screens by FY24," said Bijli, adding, "the company would invest around Rs 300 crore to open 100 screens" in the next 15 months. Besides India, PVR has a small presence i

'We would love to have more players entering the market because that is how the business will grow'

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A regular multiplex typically has 4-5 screens per property. Larger ones may go up to 7-8 screens at a single location

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A slate of flop Bollywood movies have hit India's top cinemas hard, leaving the industry to bank heavily on the current festive quarter to revive its fortunes