Page 6 - Pvr

We've become language agnostic: PVR on growing market of non-English films

Language is no longer a barrier when it comes to good content, says Sanjeev Kumar Bijli, Executive Director, PVR INOX Ltd, who has acquired Sundance Film Festival breakout "Past Lives" for India release. "Past Lives", by first time director Celine Song, is an English-Korean relationship drama that has earned rave reviews with critics hailing it as one of best movies of the year. It has already been released in the US and hits Indian theatres on July 7. Bijli said the commercial success of Japanese anime film "Suzume" inspired them to look beyond English titles and experiment with the kind of movies they want to distribute in India through PVR INOX Pictures, the motion picture arm of PVR INOX Limited. "In the last few years, we have become very language agnostic. We now watch Tamil films in Tamil with subtitles, Malayalam films in Malayalam, which is why Hindi remakes don't do so well. We just need good content now and that made us realise that we need to go beyond only English movie

PVR INOX announces opening of new 7-screen multiplex in Bengaluru

PVR INOX, the premium cinema exhibitor in India, on Monday announced the opening of its new 7-screen multiplex at Global Mall, Mysore Road in Bengaluru. The opening marks the sixth multisensory 4DX auditorium in Bengaluru and will augment PVR INOX presence in the city with 24 properties and 146 screens, PVR INOX said in a statement. With the opening, PVR INOX strengthens its presence in Karnataka with 189 screens in 34 properties and consolidates its foothold in South India with 530 screens in 95 properties, it added. The cinema hall is housed in Global Mall located next to Nayandahalli Metro Station and has a seating capacity of 1,189 with last row recliners. The multiplex is equipped with the best-in-class theatrical solutions including the SP4K next-generation laser projectors that deliver ultra-high resolution, sharp and bright images. Furthermore, the audios feature advanced Dolby Atmos audio and Next-Gen 3D technology for an immersive experience, it added.

PVR-INOX plans to shut down around 50 cinema screens over next 6 months

Leading cinema exhibitor PVR INOX plans to close around 50 loss-making screens, having an accelerated depreciation. "The company plans to shut down approximately 50 cinema screens over the next 6 months," said PVR INOX in its investor's update for the fourth quarter and financial year ending of March 31, 2023. These properties are loss-making, or housed in malls which have reached the end of their life cycle with little hope of any revival. "The company has taken an accelerated charge of the depreciation in its books and written off the WDV of assets," it said. PVR-INOX Ltd has been created after the merger of two leading cinema brands PVR Ltd and INOX Leisure. The merger was effective from February 6, 2023. The merged entity is operating 361 cinemas with 1,689 screens across 115 cities by the end of FY23 in India and Sri Lanka. Karan Taurani SVP of Elara Capital said: "There will be Rs 100 million of EBITDA impact (savings) by closing down of 50 screens. Most of these screens a

Sensex sheds 413 pts as HDFC twins, RIL weigh; Nifty ends below 18,300

CLOSING BELL: The BSE Midcap, Smallcap indices, however, bucked the trend and ended with a gain of up to 0.2 per cent. Breadth too was marginally positive.

PVR Inox hits 52-week low; down 4% as Q4 net loss widens to Rs 333 cr

The management believes that the two major factors that marred the industry in FY23 - underperformance of Hindi films and less number of Hollywood releases, will both ease out in FY24.

Ahead of Suzume release, PVR says strong signals to grow anime genre

'Anime film series have been a huge success in many parts of the world'

PVR launches sustainability campaigns, join hands with actor Bhumi Pednekar

Leading multiplex operator PVR INOX Ltd on Saturday announced the launch of a campaign to spread awareness about climate change and has joined hands with Bollywood actor Bhumi Pednekar. PVR, which after its merger with INOX Leisure operates over 1,600 screens pan India, is taking steps to reduce the carbon footprint by pursuing sustainable activities in its operations. "We have started many initiatives such as replacing all plastic usage inside the cinema halls with biodegradable materials such as paper cups, cutlery plates etc. We have water and electricity conservation plans where we would replace LED light, sensors in common areas etc," PVR INOX Executive Director Sanjeev Kumar Bijli told PTI. With this, PVR INOX would save 2,000 tonnes of carbon footprints in a year by taking these sustainable steps, he added. It has replaced single-use plastic served to customers by sugarcane bagasse food containers, and coated paper straws made of biodegradable polymers, said Bijli. Besides,

PVR launches Lucknow's biggest 11-screen cinema post merger with Inox

After merging with INOX Leisure Limited, PVR Limited announced the opening of Lucknow's largest cinema in Lulu Mall. The 11-screen Superplex will increase the company's presence in UP

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PVR Inox to add 200 screens each year; expects double-digit growth in FY24

Leading multiplex operator PVR is working on "getting economies of scale" after the merger of rival Inox Leisure and expects a double-digit growth in its top-line in FY24, said managing director Ajay Bijli. PVR is working on synergies on revenue from ticket prices, food & beverage, advertising, and operating costs, he said, adding that the merged entity has plans to add 200 screens every year, and tap the potential of smaller markets. "If you look property by property, in certain places there are disparities in the ticket price. There are opportunities for improving programming, and scheduling the peak-hour ticket pricing," Bijli told PTI. Besides, some of the properties would also have to be upgraded, he said. "We both are operating in the same environment and look at the demographics in a similar way. But whatever tweaking needs to be done for both brands to give a consistent experience, we are working on it," Bijli added. When asked about the growth in terms of the top-line of

PVR expands its footprints in North, opens at third location in Faridabad

With this launch, PVR Cinemas has consolidated its foothold in Haryana with 50 screens in 13 properties and 286 screens across 65 properties in North

The Budget is highly pragmatic and growth oriented: PVR's Ajay Bijli

Ajay Bijli, Chairman and Managing Director, PVR Ltd, talks about Union Budget 2023

PVR dips 5%, hits over 10-month low post December quarter results

According to analysts, key medium-term trigger for the stock will be the proposed merger with INOX, which likely to be consummated within a month

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PVR swings to Q3 profit of Rs 16.15 cr on strong movie runs, revenue up 53%

The company said it is on track to open a total of 100-110 new screens by the end of this fiscal year

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CLOSING BELL: Broader markets, too, were subdued in trade as Nifty MidCap 100 and Nifty SmallCap 100 indices declined up to 0.4 per cent.

PVR-Inox merger: How big is the consolidation in Indian cinema

The country's largest and second-largest theatre chains, namely, PVR and Inox, received the final approval for their proposed merger on Thursday

NCLT gives approval for merger of multiplex operators PVR and Inox

Detailed order expected in next few days; paves way for India's largest cinema chain

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PVR aims to operate 1,000 screens by FY24-end, invest Rs 300 cr: JMD

Multiplex operator PVR aims to operate 1,000 screens by the end of FY24, by adding 100 more screens in the next 15 months, the company's Joint Managing Director Sanjeev Kumar Bijli said. The company, which on Monday achieved the milestone of 900 screens, would invest around Rs 300 crore to add another 100 screens, Bijli said. As part of the expansion, the company is entering into newer cities, especially in the south and east parts of the country, where it has a negligible presence. PVR is looking for smaller cities, which are unserved and have "high potential", said Bijli. When asked about expansion, Bijli said, in the current quarter, PVR would add 30 screens. Moreover, some of the screens which are currently under fit-outs would also be ready for operation in the March quarter. "We are now aiming to have 1,000 screens by FY24," said Bijli, adding, "the company would invest around Rs 300 crore to open 100 screens" in the next 15 months. Besides India, PVR has a small presence i