PVR eyes investing up to Rs 3000 crore to add over 800 cinema screens
PVR, India's largest multiplex screen owner, is planning to invest up to Rs 3000 crore for adding as many as 800-1,000 new screens over the next 3-4 years. Currently, the Ajay Bijli-run company runs nearly 750 cinema screens across the country.
Gautam Dutta, CEO of PVR Cinemas, said, "We plan to invest Rs 2,500-3,000 crore for this expansion, and this will be managed through a mix of cash and debt. The investments that we are lining up now are more than the estimated Rs 2,000 crore capital that we have deployed over the last two decades."
"The new-age content platforms such as Netflix and Amazon Prime are not having any significant impact on the cinema viewership. The same apprehensions were there when IPL made a debut a few years back. People said that IPL will impact cinema. However, it did not, and we realised that cricket does not impact cinema," he further added.