In its bid to strengthen its bottomline, Pyramid Saimira Theatre Ltd (PSTL) has ventured into the food and beverage business (F&B).
Pyramid plans to make F & B a $1 billion business by 2010. The company announced the inauguration of its food court at SLF Mall in Faridabad, on Monday. PS Saminathan, managing director, said, ?So far, we only had canteens catering to film going customers. Today, we are on the verge of becoming a full fledged food & restaurant business entity. There is a tremendous synergy between food and entertainment and Pyramid Saimira plans to capitalise on it.?
Pyramid’s focus for the fiscal will be on adding businesses including F&B, which will provide profit margins of up to 50%, he added.
?Further, PSTL is present in about 450 towns and we rely on our foot fall, as well as multi-location advantage. We are also planning to inaugurate our screens in Faridabad very shortly,? Saminathan said.