PVR INOX to Bring On 100 More Screens in 2025 with ₹200 Crore Investment
PVR INOX Ltd, the country’s largest multiplex chain, announced an aggressive expansion plan on Thursday for 2025, which has going to add 100 new screens across the country. The investment amount for this addition will be around ₹200 crore. According to a company spokesperson, the increased optimism regarding growth in India’s cinema industry prompted expansion of business in an optimum manner by adopting an asset-light model, wherein most of the investment was coming through developers themselves.
The company operates 1,744 screens across 355 properties in 111 cities currently, an consolidation within the larger Indian entertainment space. While it has added about 70 screens in 2024, the company has shut 45-50 underperforming screens. At the end of 2024, PVR INOX will close 75 screens while opening 120 new screens to replace older and lesser yielding locations with newer and modern locations.
Market Dynamics and Challenges
Delays in major film releases affected topline and footfalls in the first half of the fiscal for PVR INOX. On the other hand, the company remained optimistic for the second half, particularly the third quarter. “Q3 seems to be in a much better place now. October was a bit dull, but November is firing already,” said Sanjeev Kumar Bijli, Executive Director at PVR INOX. He also observed that many films that were postponed earlier in the year now have scheduled releases for the second half. This should greatly help increase performance.
Though PVR INOX faces challenges, it is still keen on expansion and innovation to ensure it stays ahead of the competition in multiplex cinemas.
Embracing Innovation with AI-Powered Chatbot
The company’s physical footprint had a plus – this company added an AI-powered WhatsApp chatbot called Movie Jockey, or MJ, to improve engagement. This new service aims to make movie discovery and booking tickets not that complicated through ease-think of it: after all, the service can be accessed right there on the user’s WhatsApp. So, this life-enhancing through technology-infused customer servicing strategy lifts up PVR INOX’s strategy for Indian customers around cinemas.
Stock Market Performance
Investors welcomed the expansion plans and improving market conditions. Shares of PVR INOX Ltd went up positively by more than 1% on Friday, Nov 24, closing at ₹1,460.65. Market Positive It shows a growth in investor confidence about the ability to pass over challenges and take advantage of opportunities that come along in 2025.
Expansion Plans for 2025
At a time when PVR INOX aims to add 100 new screens by 2025, this heralds the strategy for the company to further strengthen its India leadership position. Growth so facilitated by this asset-light approach is sustainable and cost optimized to the tune of ₹200 crore in capital investment.
While strategic closures, creative customer engagement initiatives, and a series of positive new releases await, PVR INOX is well placed to withstand the vagaries of the market and deliver value to customers and stakeholders alike. PVR INOX shall be the torchbearer in that space as the love for cinema continues to blossom in India through its vision of extension and innovation.
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