INDIAN RE­TAIL­ERS SET THE PATH FOR GREAT­NESS

Come fall, and lead­ing brands – both Indian and for­eign – across all cat­e­gories are in ex­pan­sion mode. While some in­dige­nous brands are paving the path to prof­itabil­ity over the next few years, oth­ers are course cor­rect­ing, mov­ing to­wards a lu­cra­tive futu

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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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