PVR To Open 100 New Screens Next Year; Expects Inox Merger By February
NDTV
It also expects its mega-merger with Inox Leisure to close by February 2023, after which it will start to run as a combined business, PVR's chief executive Gautam Dutta told PTI over the phone.
Film exhibition company PVR Cinemas will invest up to Rs 350 crore to open 100 new screens in FY23, a top official said on Monday.
It also expects its mega-merger with Inox Leisure to close by February 2023, after which it will start to run as a combined business, PVR's chief executive Gautam Dutta told PTI over the phone.
Pointing to the company's performance in the April-June quarter, he said patrons are coming back to halls to enjoy the cinema experience and the food and beverage sales are also up, which makes it more optimistic about expansion.
"We will invest up to Rs 350 crore to open 100 screens in FY23. I see the same trend continuing in the next 2-3 years as well," Dutta said, stressing that the expansion will be a balanced one across geographies.
