InvestorQ : Is it true that PVR has laid out aggressive expansion plans to grow its business post the pandemic?
vidhya Laxmi made post

Is it true that PVR has laid out aggressive expansion plans to grow its business post the pandemic?

sarah Leo answered.
2 years ago

India’s largest multiplex operator, PVR Ltd, has laid out aggressive plans to open 40 new screens in FY22. This is in line with reduced restrictions on the business and a bet on the situation returning to normalcy soon. Large production banners in Hindi cinema are also lining up major releases in the coming months and PVR will use a large chunk of the Rs.1100 crore that it has recently raised to expand the footprint in terms of number of screens.

PVR confirmed that they had a large number of projects at various stages of development when the nationwide lockdown began in March 2020. Most of the restrictions still continue but now they have the facility to start functioning of the multiplex as normalcy finally appeared to come back to the markets. Since November 2020, PVR has launched 10 new screens and another 40 new screens will come up in the fiscal year 2021-22.

Some of the recently added screens include a six-screen multiplex in Mysuru, as well as a three-screen multiplex in Kanpur. The multiplex at Pune was also giving tickets as required. The 40-screen rollout it moderate compared to 87 screens launched in FY20,but the start is good nevertheless. One challenges that multiplexes will look to contain is the rapid growth of OTT content, especially when it comes to the release of new movies.

Some of the big forthcoming starrers include Akshaye-Kumar-starrer Sooryavanshi , Salman-Khan-starrer Radhe will release on May 12 during Ramzan Eid and Ranveer Sing’s opus on Kapil Dev’ 1983 victory will be chronicled by Ranveer Singh. There is also Alia-Bhatt’s Gangubhai Kathiawadi and Aamir Khan’s big budget movie viz. Laal Singh Chaddha.

But one dampener could be the rapid spike in COVID cases in Maharashtra and some other states. Five states, including Maharashtra, Kerala, Karnataka, Andhra Pradesh, and Tamil Nadu remain the most-affected in terms of total cases. Any movie release will require the pandemic situation to come back to normal and the vaccines to start working.