KSS Ltd plans to roll out 180 screens over next 5 years
The company is expanding its reach in states such as Gujarat, Maharashtra, Uttarakhand, Punjab, Chhattisgarh, Uttar Pradesh, Madhya Pradesh, Rajasthan and Goa
Mumbai: Film exhibition company KSS Ltd will expand its miniplex business in tier 2 and tier 3 cities over the next five years with an investment of Rs.90 crore along with its franchisees, the firm said in a filing to BSE on Monday.
The company is expanding its reach in states such as Gujarat, Maharashtra, Uttarakhand, Punjab, Chhattisgarh, Uttar Pradesh, Madhya Pradesh, Rajasthan and Goa and will roll out over 180 screens covering almost 80 locations over the next five years, the firm said.
“We have found that there is a huge opportunity to expand in smaller towns than metro cities because the occupancy rates in these cities are almost 60%, which is more than double than any multiplex or theatres of metro cities,” said Mridul Vyas, chief executive of KSS Miniplex, a division of KSS Ltd.
KSS has around 80 screens under various stages of implementation, 17 of which are already operational. Thirteen more will be added by the end of fiscal 2015, the firm said.
At 2:00pm, KSS shares were up 0.38% to Rs.13.05, on the BSE, while the benchmark Sensex index was down 0.85% to 28,215.26 points.
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