Mumbai: Multiplex operator PVR is targetting an around Rs100 crore revenue from its bowling alley arm, PVR BLu O, by 2011-12, a top company official said.
PVR Blu O is a joint venture between Thailand-based Major Cineplex and PVR and is already a profitable venture for the multiplex chain clocking a revenue of around Rs15 crore in FY 10 with its EBITDA at Rs3 crore.
“We expect around Rs75-100 crore revenue from PVR Blu O by FY’12. The growth will come from the spurt in out-of-home activities among children as well as grown-ups which has picked-up in the last few years. We expect this venture to grow at 80% CAGR,” PVR Group president, Pramod Arora, told PTI here.
It is also looking at scaling-up its bowling alley business to 124 lanes by adding 100 more over the next two years as a part of its plan to widen service offerings by setting up out-of-home gaming zones in India.
“We plan to add 100 lanes over the next two years at an investment of Rs50 crore. The bowling alleys would be coming up in New Delhi, Pune, Bangalore and Mumbai,” Arora said.
Presently, the company has a 24-lane alley at Ambience Mall in Gurgaon. It plans to set up a 26-lane in New Delhi by end-this year and another 18-lane one in Pune by early next fiscal, Arora said.
The company is also planning to set up an alley in Mumbai, most likely at Phoenix Mills in Lower Parel, he said, adding that PVR Blu O has been formed to position PVR as a complete lifestyle entertainment provider by setting-up bowling alleys, karaoke centres, ice-skating rinks and gaming zones in and around its multiplexes.
Besides, Arora said PVR is looking at adding 45-50 screens in the current fiscal at an investment of Rs75-crore. It also expects a 35% growth in its top-line in FY 11.