Multiplex chain operator PVR started its journey as a joint venture between Priya Exhibitors Private Limited and Village Roadshow Limited in 1995. From one of the cinemas in India to the largest cinema exhibition company in India, they have gone through many phases in their business. Here are the Achievements of PVR cinemas in 2017:
Expansion at its best!!!
PVR is India’s largest cinema exhibition company and it is growing at a speed of thunder. On 31st March 2017, it has launched its first ever multiplex in Jharkhand-Ranchi. With this launch, it reached to 50 cities milestone presence in pan India with 125 properties and 574 screens. The location they selected is in the heart of Ranchi with the largest and the most premium multiplex in the city.
Doubling the screens:
PVR is trying to double the number of screens in the next 3years. According to them, the numbers of customers are going to increase from 75 million to 100 million in next 3years. Through this, they are going to double their revenue. In FY 2016-17, their revenue was round about Rs.2100 crore. With the increase in the number of screens their estimated revenue target is around Rs.3500 crore to Rs.4500 crore.
An acquisition is a mantra for expansion of PVR. After acquiring DT cinemas in last year, PVR targets to acquire more 100 screens by the end of next fiscal.
Virtual Reality Lounges:
By launching its 1st lounge in Noida on 20th march, 2017, they are trying to launch lounges in metro cities like Mumbai, Delhi and some of the south Indian cities in next 8 months. VR lounges will be most exciting experience in the sector of cinemas and will increase the revenue of PVR to a great extent.
It’s just end of April and the achievements are great. Many more achievements to hit the news in future.
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