PVR investing 100 Crore in Kerala
26 April 2013
PVR Ltd on Friday inaugurated their Rs30-crore multiplex at Lulu Mall in Kochi. The operator of multiplex chain also intends to invest Rs 100 crore in the state over the next few years, planning for similar screens in other major cities.
“Thiruvananthapuram and Kozhikode are the two cities in Kerala where we are looking at more multiplexes to come in. We are looking at a couple of more in Kochi also,” said Pramod Arora, group president of the company. The multiplex at Lulu, which is spread over 71,000 sq ft, has 9 screens and 2,192 seats. Over the next one-year period, it will screen roughly 300 movies across all languages.
Nitin Sood, CFO of PVR, said the new multiplex would take atleast four years to payback the capital investment. At the theatre level, the operating profit is around 20% to 22%, he said. Food and beverages contribute 20% to 22% of the revenues, while ticket sales give 65% to 70%. The company also plans to open 80 to 100 screens across the country in the current fiscal.
Source - http://timesofindia.indiatimes.com/city/kochi/PVR-to-invest-Rs-100-cr-in-Kerala/articleshow/19748392.cms
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