PVR to invest up to Rs400 cr in 250 screens

PVR to invest up to Rs400 cr in 250 screens


New Delhi: Multiplex operator PVR Ltd said on 22 November, it would invest up to Rs400 crore in the next three years to set up 250 new screens across the country.

“Our idea is to expand the PVR brand both in metro and non-metro cities. We will be setting up 250 new screens in the next 36 months, which could entail an investment between Rs300-400 crore," PVR Ltd chairman and managing director, Ajay Bijli, told reporters here.

The company today launched its premium brand of multiplex ‘PVR Premiere’.

The company is targeting metros and cosmopolitan cities in the country to set up 30-40 screens of the new brand by 2010.

Bijli said PVR would also expand PVR Cinemas in 30 select cities in the country.

On funding of the expansion, Bijli said it could be a mix of equity, debt and internal accruals.