PVR launches 11-screen multiplex in Tamil Nadu

The cinema chain operator on Monday (6 March 2023) announced the opening of 11 screen multiplex in city of Chennai at Phoenix Marketcity, Tamil Nadu.

The new multiplex in Chennai will strengthen the company's foothold in Tamil Nadu with 136 screens in 22 properties and consolidates merged entity's presence in South India with 519 screens in 93 properties.

The new cinema is is equipped with theatrical solutions including laser projection system, Dolby Atmos sound and 3D powered by Volfoni Smart Crystal Diamond solution. It has advanced Dolby 7.1 audio and Next-Gen 3D technology for an immersive experience. Luxe will also be a go-to destination for innovative F&B concepts and elaborate gourmet choices. Patrons will also be able to enjoy these gourmet food options within the comfort of their homes by ordering them through food ordering platforms like Swiggy and Zomato.

Ajay Bijli, managing director, PVR, said, "Luxe is also home to IMAX, which is the most immersive movie experience in the world, with heart pounding audio, 40% larger image, a dual projection system, highest quality 3D and remarkably striking interiors. The new cinema will also be destination of choice for food connoisseurs, thanks to a vast menu, serving gourmet delicacies.

With this opening, the merged entity has strengthened its growth momentum and has opened 159 screens across 28 properties in 22 cities in this fiscal.

With this launch, merged entity now operates the largest multiplex network with 1,674 screens at 358 properties in 114 cities (India and Sri Lanka).

PVR is an industry leader in India in the film exhibition business dedicated to delivering the best cinema experience to different audiences.

PVR reported consolidated net profit of Rs 16.15 crore in Q3 FY23 compared with net loss of Rs 10.18 crore in Q3 FY22. Net sales jumped 53.2% to Rs 940.69 crore in Q3 FY23 as against Rs 614.15 crore in same quarter last year.

Shares of PVR fell 0.21% to Rs 1,575.85 on the BSE.

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