New Delhi: Multiplex operator Inox Leisure plans to invest around Rs100 crore to open 39 more screens this fiscal to take its total screen count to over 500. The company operates over 475 screens in 58 cities.
“A new screen pipeline for the (remaining part of this financial) year includes 9 properties with 39 screens and 6,577 seats," Alok Tandon—CEO, Inox Leisure told analysts during a conference call. The company said on an average it spends around Rs2.5-3 crore for opening a new screen.
To add 39 screens, the company will have to invest around Rs100 crore. Elaborating on the plans, Tandon said: “Post March 2018, we have already tied up in terms of signed agreement for another 79 properties with 461 screens and 85,955 seats. Once this pipeline is implemented, we will have 207 properties, 976 screens, 2,11,927 seats."
Last month, Inox Leisure reported 28.56% increase in consolidated net profit at Rs32.09 crore for the first quarter ended 30 June. Its total income grew 14.83% to Rs389.72 crore during the quarter under review as against Rs339.36 crore in the same quarter last fiscal.