How is PVR planning it expansion in the post-COVID scenario?

After 2 years of subdued growthy amidst the COVID overhang, PVR plans to go aggressive this year. In FY23, PVR plans to shift its strategy to aggressively expand screen launches by adding 120-125 screens. That is more than the annual accretions in screens in the pre-COVID era.

Its capital expenditure plan is Rs.400 crore for FY23 with a plan to deepen penetration into Tier-2, Tier-3 and Tier-4 markets. It had added just 13 screens and 29 screens in FY21 and FY22 respectively. With a portfolio of 854 screens, PVR targets to touch 1,000 screens by close of FY23. That should partially offset cinema advertising still lagging behind.