PVR to invest Rs 1000 crore on 400 new screens
Amir Shaikh / 22 Jun 2017
The film entertainment company PVR Ltd plans to invest around Rs 1000 crore for opening 400 news screens across India by the end of 2020.
The film entertainment company PVR Ltd plans to invest around Rs 1000 crore for opening 400 news screens across India by the end of 2020.
The company's expansion plans are more inclined towards Tier-2 and Tier-3 cities and has an existing base of 584 screens across 50 cities in India.
The company feels that the growth opportunities are on higher side in these areas with saturated growth in metro cities.
PVR Ltd is a film entertainment company engaged in the motion picture exhibition in cinemas. The company has organised its operations into three business segments: movie exhibition, movie production and distribution and others segment that includes bowling, gaming and restaurant.
The cities which are likely to get new screens include Chennai, Pune, Mysuru, Kota, Hyderabad, Karnal, Jammu, Bengaluru and Delhi. The company also looks to add more iMAX screens in some of the metro cities in India.
The company posted revenue of Rs 467.53 crore in Q4FY17 as compared to corresponding quarter in FY16 Rs. 381.13 crore, an increase of 22 per cent.
The stock currently trades at Rs 1577 on the BSE.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.