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  1. PVR to invest Rs 70 cr for opening 21 4DX screens

PVR to invest Rs 70 cr for opening 21 4DX screens

The country’s largest cinema exhibitor, PVR, on Wednesday said the company would invest around Rs 70 crore for opening 21 4DX screens in India by 2019, and has signed a strategic deal with CJ 4DPLEX for the same.

By: | Hong Kong | Published: December 14, 2017 5:45 AM
pvr, pvr expansion plan, pvr 4dx screen plan The multiplex operator, currently operates three 4DX screens in Bengaluru, Mumbai, and Noida.

The country’s largest cinema exhibitor, PVR, on Wednesday said the company would invest around Rs 70 crore for opening 21 4DX screens in India by 2019, and has signed a strategic deal with CJ 4DPLEX for the same. The multiplex operator, currently operates three 4DX screens in Bengaluru, Mumbai, and Noida. The fresh deal announced aims at adding another 18 4DX screens by 2019. “PVR will invest nearly Rs 3.5 crore per screen, and around 60% of the screens will be retro-fitted,” Gautam Dutta, chief executive officer of PVR, said on the sidelines of the CineAsia Trade Show.

The 4DX technology uses innovative features such as moving seats and environmental effects and people travel from far off places to enjoy the experience. “Even on a lean day, we have seen 50% occupancy. Seeing the demand, we have decided to add more screens for 4DX,” Dutta said. Of total 40 titles, only three Bollywood movies were released in the first year of 4DX’s operations in India. Dutta said the 4DX screen are quite profitable with a payback period of 2.5-3 years. Further, the company is charging premium of Rs 150 to Rs 200 per ticket for 4DX.

Dutta expects more Bollywood movies to be released on the 4DX platform, with the rise in number of screens. The net profit of PVR fell 13.7% to Rs 25.17 crore for the second quarter of the current fiscal. Revenues rose 2.1% year-on-year to Rs 555 crore.

(Travel for this report was sponsored by PVR)

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