| This year, east India for the first time will witness major transactions by multiplex chains such as PVR Cinemas, Cinemax, Pritish Nandy Communications, Inox Leisure, Shringar, and Adlabs. In 2007, only a few multiplexes had expanded in West Bengal.
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| Kolkata itself has as many as 30 medium to big-sized projects lined up for commissioning by end-2008, and about 50 projects by 2010.
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| The Cinemax chain of multiplexes, a Kanakia Brothers promoted venture, is foraying into Kolkata with an estimated investment of Rs 45 crore and has identified five properties here.
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| Cinemax’s first 4-screen, 1,000-seater property in Kolkata that required an investment of Rs 10 crore, would be up and running in 2008.
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| According to Devang Sampat, vice-president for marketing and programming, Cinemax, the aim is to inaugurate one multiplex every three months. Cinemax also aims to set up multiplexes this year in Siliguri and Darjeeling in West Bengal.
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| It has also identified one property in Orissa. Pritish Nandy Communications too has set its sights on Kolkata and plans get into multiplex operations in the city. It is also in talks with directors to produce Bengali movies.
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| Pritish Nandy, chairman of the company, said recently, “We plan to have 10 screens up and running within the next 18 months. Over the years, we expect exhibition to contribute about 30 per cent to our total business.”
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| Targeted at the luxury segment, these multiplexes would be launched under the brand names Flix and Flix Grande, the latter being larger.
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| These ‘boutique theatres’ would either be standalone or located inside a mall.PVR Cinemas is foraying into east India and aims to set up 50-60 screens in seven to eight locations within the next 5 years.
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| Its first 8-screen, 2,200-seater multiplex would come up this year on Kolkata’s VIP Road, inside the shopping mall being built as an equal JV between Pantaloon Retail and the Kolkata builders’ consortium.
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| “We have plans to invest close to Rs 100 crore in Kolkata alone in the next 5 years, with a typical cash break even time of 3 years per multiplex,” said Pramod Arora, president, PVR.
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| PVR is also in talks with several mall developers at locations such as Rajarhat, Howrah, Siliguri and Durgapur in West Bengal and a few locations in Orissa.
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| Adlabs Cinemas aims to set up its first 3-screen, 1,050-seat multiplex at Salt Lake’s RDB Boulevard with an investment of close to Rs 5.5 crore. Adlabs would also revamp defunct single screen theatres at Siliguri, and Darbhanga in Bihar.
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| Shringar Cinemas, operator of the Fame chain of multiplexes, would set up nine more multiplexes at places such as in Kolkata’s South City Mall and Lake Mall, and in Howrah.
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| According to Shunali Shroff, head of corporate communications, Shringar, Fame would set up a six-screen, 1,425-seat multiplex in South City Mall, and a four-screen, 1,000-seat multiplex in Lake Mall, with an average spend of Rs 8 crore per multiplex.
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| Inox Leisure, with properties in Kolkata’s City Centre and Forum Elgin Road malls, and on Laden La Road in Darjeeling, aims to add 10 multiplexes in West Bengal by end-2008.
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| “By early 2009, we should have 11 more properties in the whole of West Bengal,” said Alok Tandon, COO, Inox Leisure.
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| It has 11 screens in West Bengal currently and would have 39 more by September 2008. Inox would spend Rs 2-3 crore per screen, depending on the property. The company would set up multiplexes at Kolkata’s Swabhumi and Panditiya, Rajarhat, Durgapur,
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Barddhaman, Dumdum, Howrah, Haldia, Siliguri, and Kharagpur.
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| COMING SOON
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Multiplex chains such as PVR Cinemas, Cinemax, Pritish Nandy Communications, Inox Leisure, Shringar, and Adlabs are looking to set up shop in east India
In 2007, only a few multiplexes had expanded in West Bengal
Kolkata itself has as many as 30 medium to big-sized projects lined up for commissioning by end-2008, and about 50 projects by 2010
Other locations on the list are Darjeeling, Howrah, Haldia, Barddhaman, Kharagpur, Siliguri and Durgapur in West Bengal and a few locations in Orissa |
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