| The Rs 110 crore Cinemax chain of multiplexes, a Kanakia Brothers promoted venture, is foraying into Kolkata with an estimated investment of Rs 45 crore and has identified 5 properties here.
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| It plans to invest close to Rs 300 crore for its expansion plans all over India in the next two years.
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| Cinemax's first 4-screen-1000-seater property in Kolkata, that required an investment of Rs 10 crore, would be up and running in another 3 months.
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| "Our aim is to inaugurate one multiplex every 3 months," Devang Sampat, vice-president - marketing and programming of Cinemax, informed Business Standard.
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| It is planning to invest close to Rs 45 crore in its 5 identified properties in Kolkata, all of which would be located inside shopping malls.
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| Tickets, at the Kolkata properties, would be priced anything between Rs 50 and Rs 150 depending on peak hours and locations. "We were so far concentrating essentially on Mumbai and western India and were studying other markets. Now that we have identified our business opportunities in specific regions, we are in an expansion mode all over India," Sampat said.
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| As for competition, Cinemax is expected to score on the viewing quality offered by it.
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| However, such facilities would come at a price.
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| For example, Cinemax is planning to introduce the lounge concept in its Kolkata properties for which tickets would be priced at Rs 250.
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| Cinemax multiplexes are also expected to score on recliner sofas that could tilt upto 150 degrees, massage chairs, any time tickets machines, luxurious and expensive interiors and the best of customer service.
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| The company is also planning to set up multiplexes this financial year in Siliguri and Darjeeling in West Bengal with an investment of close to Rs 70,000 to Rs 1 lakh per seat. It has also identified one property in Orissa.
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| Cinemax recently inaugurated its 2-screen-500-seater multiplex in Guwahati and is also planning its second 4-screen multiplex in Guwahati soon.
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| Cinemax also plans an investment of Rs 300 crore in the next 2 years and plans to take its total number of screens to 500 by 2011 in India from 38 right now.
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| Cinemax posted a turnover of Rs 110 crore as on March 2007 and expects revenues of close to Rs 220 crore end of the current fiscal. |
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