Theatre chain SRS Cinemas today said it will invest Rs 50 crore for adding 21 screens to its portfolio by the end of this fiscal, taking its total to 53 screens.
"We will have 35 screens by March 2010 and will invest about Rs 50 crore for this. We are primarily looking at Tier II and III cities for the expansion," SRS Group President Tinku Singh told reporters here.
The company today opened a multiplex in Gurgaon with two screens.
SRS now has four operational multiplexes, with 14 screens, in Faridabad, Gurgaon and Gorakhpur.
"Our focus would be on smaller cities as we want to have the first mover's advantage. As big operators now plan to enter the smaller markets, we are already well placed in these markets," he said.
SRS Cinemas will open two new multiplexes with seven screens in Ghaziabad next month and is looking at Varanasi, Agra, Ludhiana and Patiala for this purpose.
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