Film entertainment company PVR Cinemas is planning to open 60 screens across the country in 2010 envisaging an investment of close to Rs 120 crore. The company, which made foray into the Chennai market on Thusday with the opening of a multiplex of seven screens at Ampa City Walk, sees more revenues coming in from southern markets such as Andhra Pradesh, Karnataka, Tamil Nadu and Kerala.
?We will open more screens in southern states and tier II cities of Tamil Nadu, where exist untapped potential for multiplexes, said Promod Arora, group president, PVR Ltd. In South, PVR Cinemas already has multiplexes in Hyderabad and Bangalore. With the launching of the Chennai mulitplex, PVR has its total screen count increased to 123 in 17 cities across the country. PVR Cinemas, which expects a 40% jump in its revenues in 2010, is hopeful of mopping up around 60% of it from the South operations.
?South is an important market for PVR and the Thursday?s launch in Chennai is a step in the right direction to accomplish our expansion plans. For South, specifically, we are looking at investing Rs 50 crore in the coming 18 months. We have very aggressive expansion plans for this year, not just in the multiplex space but also for PVR Pictures and bluO,? Arora said
On the ticket-pricing front, he said the company was not happy with the approach of the Tamil Nadu government which puts regulations beyond certain level. ?In my view pricing should be left to the discreation of the mulitplex operators, where they can have the flexibility to adopt discount fares for certain categories such as students,etc.?
Currently, at the Chennai multiplex, tickets are priced flat at Rs 120 each. The multiplex has seven screens with a total seating capacity of 1,794.