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PVR TO OPEN 1,000 SCREENS BY 2022
Leading multiplex operator PVR expects its annual footfall across India to cross the 100 million-mark in the next two years, according to a top company official. It is currently on an expansion spree with plans to have around 1,000 screens by 2022, from the 600 at present. “We will get to about 1,000 screens by 2022 as per our internal target and we should be able to cross the 100 million-mark in terms of consumer visits annually in about two years from now,” CEO, PVR, Gautam Dutta told PTI. He further added, “We today cater to 75-80 million consumers annually and we would want to take this number to at least 100 million very soon. We are on that journey.” The Delhi-based company crossed the 600-mark in September and is adding around 75 screens every year with an investment of Rs 2.5 crore on each new screen.
“We are investing around Rs 170 crore every year in building these 75 screens. However, in some formats, the average per screen is higher than Rs 2.5 crore and lower in some,” Dutta told PTI. While the company is extending its footprint in Tier II and III places, it is ramping up its offering in the premium segment in existing markets. PVR is aiming to have 25 percent of its total screen format in the premium category such as Imax, Gold Class, ECX, Imax or 4DX. In 2016-17, PVR earned a revenue of Rs 2,002.01 crore.
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