It has been a year of content from Pathaan to RRR, Drishyam 2, movies goers have been enthralled with a variety of choices and not to mention each has been able to make its presence felt at the Box Office. Drawing a leaf from this the merged identity PVR INOX Ltd plans to open 200 screens this year. Of this 40% will be opened in the Southern region of the county. “So far we have been focussed on creating multiplexes in metros in the South only to realise that that there are so many other places basically tier two-three cities across this region, which don’t have a multiplex. We have found some very good opportunities. Also, we have no plans to acquire any single but would like to be part of an integrated retail development, which also houses other tenants such as food options, and parking, among others,” Sanjeev Bijli, executive director, PVR Inox Ltd, said.
Currently, the merged entity of PVR and INOX houses over 1,600 screens which is about 18% of the total number of screens in the county. The company plans to rationalise cost and hence will focus on the synergy of supply chain and overhead rationalisation. A step towards sustainability is one move, claims the firm. “Sustainability is helping us achieve two things. One is, of course, sustainability itself, reducing carbon footprint, reducing plastic waste, and many other things. But at the same time, it’s also helping us reduce costs because we’re focusing on the consumption, and conservation of electricity and water,” he added.
In the last few years with regional languages creating its own space in markets such as North, it is believed that for the first Indian films have been able to expand its audience base. “Indian films have now become truly Indian. The fact that these films are being dubbed in multiple languages. Now they’ve actually become truly Indian. And as a result of which these movies can be played in North India, West India, and East India. The sentiments of the films could be very similar to all Indians,” he explained. As per the recent analyst call, the management has guided for a potential annual EBITDA synergy benefit of Rs 225 crore over the next 12-24 months.