“We had to push again our plan by precisely a yr due to the pandemic … By the tip of the monetary yr 2022-23, we should always find a way to attain 1,000 screens,” Sanjeev Kumar Bijli, Joint Managing Director,
The firm, which added 9 new screens this week in Mysuru and Kanpur, plans to add 30-40 new screens within the next monetary yr starting April 1.
Bijli stated Rs 150 crore could be outlay for the opening of recent screens within the next fiscal.
PVR at current operates over 844 screens at 177 properties in 71 cities (India and Sri Lanka).
Bijli stated a robust content material pipeline of star-studded Indian and regional movies in addition to international language movies together with an aggressive vaccination drive within the nation will carry again audiences to the cinema.
“We have had a combined couple of final months. Not very thrilling as a result of no large Hindi film bought launched. Hindi films will begin releasing from March 11. We have a robust content material pipeline. The yr (next fiscal) seems to be very promising,” he added.
When requested if the corporate can be on the lookout for acquisition alternatives for including screens, Bijli stated the corporate all the time seems to be on the choices accessible.
“There is nobody strategy for progress. We preserve an eye fixed out for all types of alternatives so long as they make sense by way of numbers, location,” he famous.
The multiplex business has been one of many worst impacted segments due to the outbreak of the COVID-19 pandemic. The authorities allowed cinema halls throughout the nation to function at full capability from February 1 with adherence to COVID-19 security protocols.
Prior to that, multiplexes and cinema halls have been working at 50 per cent sitting capability in accordance with the Unlock-5 tips issued by the federal government following the pandemic. Multiplexes and cinema halls have been closed for nearly seven months and opened in October final yr.
PVR had reported a consolidated internet lack of Rs 49.10 crore for the third quarter ended December 2020, because it continued to be impacted by the COVID-19 pandemic.
The firm had posted a consolidated internet revenue of Rs 36.34 crore in the identical quarter final fiscal.
Revenue from operations in the course of the interval beneath evaluation stood at Rs 45.10 crore, down 95.04 per cent from Rs 915.74 crore within the corresponding quarter a yr in the past.