Shares of film exhibitor and multiplex chain operator PVR Cinemas rose 2.82 percent to Rs 1,675 apiece in intraday trade on Monday as the company accomplished a major milestone of operating over 900 screens, with the opening of three new multiplexes in Jaipur, Bengaluru, and Gurugram.
The three new multiplexes comprise a total of 19 screens. The new launches include an 8-screen multiplex, the largest in Rajasthan, a 7-screen multiplex at Bhartiya Mall of Bengaluru, and a 4-screen multiplex in Haryana at Elan Town Centre.
The new openings take PVR’s total count to 63 screens so far in the current fiscal year, in line with its expansion strategy of opening 100 screens in the current financial year.
With the new launches, PVR Cinemas now has 181 properties in 78 cities across India and Sri Lanka, having 903 screens.
The latest multiplex in Jaipur has a seating capacity of 944 people with formats like 4DX and LUXE introduced for the first time in Rajasthan. The multiplex will also have luxurious features like recliners and best-in-class theatrical solutions, including Dolby Atmos audio and SP4K Laser projectors.
In Bengaluru, PVR’s property count rose to 13, and 17 in Karnataka. The newest multiplex has been introduced at Bhartiya Mall of Bengaluru, with a seating capacity of 1,343 people.
In Gurugram, PVR launched its 7th property and the 12th in Haryana, opening a 4-screen multiplex at Elan Town Centre, having a seating capacity of 561 people.
Shares of PVR Ltd. ended 2 percent higher at Rs 1,661.60 on the BSE on Monday.
