PVR Hits 900-Screen Milestone, Opens 19 New Screens on Jan 9: Details

  • Investing.com
PVR Hits 900-Screen Milestone, Opens 19 New Screens on Jan 9: Details
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Shares of the country’s largest and the most premium film exhibition company PVR (NS: PVRL ) Cinemas surged 3.2% to Rs 1,680.75 apiece on Monday after the major announced hitting a new milestone of opening 900 screens in its 25 year of journey on Jan 9, 2023.

The multiplex operator has launched three new multiplexes in Jaipur, Bengaluru and Gurugram, adding 19 screens on Monday and taking the total count so far in the financial year 2022-23 to 63 screens, at par with PVR’s target of opening 100 screens by FY23.

With the three new property launches on Jan 9, PVR has now reached 903 screens at 181 properties in 78 cities across India and Sri Lanka, the company said in a press release to the exchanges.

The multiplex operator has launched an 8-screen multiplex in Jaipur, opening its largest and fourth property in Rajasthan, introducing premium screen formats like 4DX and LUXE in the state. The new property has been opened at the Mall of Jaipur providing a seating capacity of 944 audiences.

In Bengaluru, the 7-screen new multiplex is PVR’s 13th property and 17th in Karnataka, opened at Bhartiya Mall of Bengaluru, having a seating capacity of 1,343 audiences.

In  Gurugram, the 4-screen multiplex opened today is the 7th property and the 12th in Haryana, introduced at  Elan Town Centre, housing a seating capacity of 561 audiences.

“We are now looking forward to the next milestone of 1000 screens and are fueled with the passion to provide a more delightful cinematic experience to people across geographies and demographics,” said Sanjeev Kumar Bijli, Joint Managing Director of PVR Ltd.

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