PVR plans to invest Rs 750 mn in FY'12

MUMBAI: Multiplex chain PVR has a capital expenditure plan of Rs 750 million in the current fiscal even as it intends to add 50-60 screens across India, a senior company official said.

The multiplexes will come up in key markets like Surat, Nanded, Delhi, Pune, Kolkata, Jallandhar and Bangalore.

"The plexes will be spread out across the country this fiscal. We will have a more south focus in the next fiscal. The capex plan in FY‘12 is Rs 700 million-750 million," PVR Ltd. chief financial officer Nitin Sood told

PVR is sitting on a cash pile of Rs 1 billion and has no fund-raising requirement, added Sood.

PVR currently operates 34 properties with 146 screens in 19 cities across the country.
PVR Ltd. reported a 14 per cent jump in consolidated revenue to Rs 1.17 billion for the three months ended June 2011, compared with Rs 1.03 billion in the prior year quarter.

"The content pipeline has been strong this quarter. We were not impacted by the IPL (Indian Premier League) as there were many movie releases this year. We expect the growth momentum to last in the subsequent quarters this year," said Sood.

Operating profit grew 86 per cent in the fiscal first-quarter to Rs 343.4 million from Rs 184.3 million in the earlier year.

Net profit rose 159 per cent to Rs 144.2 million compared to Rs 55.6 million a year ago.

Revenue from the exhibition business grew 12 per cent to Rs 948.4 million. Operating profit stood at Rs 355.8 million compared to Rs 158.1 million a year ago. Core business EBITDA grew by 18 per cent to Rs 186.2 million. Net profit at Rs 220.8 million rose 389 per cent.

Continuing with its buyback proposal, PVR has purchased 1.08 million equity shares, or 4 per cent, according to the data provided by the company till 5 August.

Will PVR‘s expansion plans be upset by the market tumult hitting the globe due to the U.S. downgrade and the possibility of a double-dip recession? "The mall developers may slow down. But we are pretty locked up this fiscal and won‘t face any challenge as we intend to add 50-60 screens during this period," said Sood.

Latest Reads
Kyoorius Group announces partnership with The one club for creativity to serve as official representative in india

Kyoorius Group today announced it has formed a partnership with The One Club for Creativity, the leading global non-profit organisation behind The One Show, ADC Annual Awards and other programming, to serve as the club’s official representative in India.

Movies Short Films
Moviebuff and 2D entertainment announce first clap season 2

Moviebuff and 2D Entertainment have announced the launch of First Clap Season 2, the country’s only theatrically showcased talent hunt for aspiring filmmakers, back again with the challenge of creating a compelling story in three minutes on any subject.

Movies Short Films
Oddball Motion Pictures gets Rs 250 cr for film production

MUMBAI: Oddball Motion Pictures, founded by filmmaker Nitin Upadhyaya, announced its association with Chanda Group where the latter will be funding a seed capital of up to Rs 250 crore for the feature films and original digital video content that will be exclusively developed and produced by...

Movies Movies On Mutiple Platforms
Cast & crew of 21 sarfarosh: saragarhi 1897 celebrate army day with the 7th Battalion of sikh regiment of the indian army

The cast & crew of 21 Sarfarosh: Saragarhi 1897 commemorated the Army day with the Soldiers of Sikh regiment of Indian army. Actors Mohit Raina & Mukul Dev personally took the soldiers of the Sikh regiment on the tour of the set in Aamgaon where the epic battle of Saragarhi is currently...

Movies Hindi
Watch the world television premier of "Nirahua Hindustani"on 30th december at 1 PM only on Dabangg

SABGROUP’S foremost regional channel – Dabangg is geared for the World Television Premier of the highest revenue grossing Bhojpuri Blockbuster of all times, ‘Nirahua Hindustani’. The telecast will air on the 30th December,2017 at 1pm, followed by the repeat at 8pm.

Movies Hindi
BookMyShow reveals how India entertained itself in 2017

As the year comes to a close, BookMyShow looks back at what entertained India this year, from movies to plays, sports, events and music. In 2017, millions of Indians reached out to BookMyShow to meet their entertainment demands basis which the platform is delighted to present #Bestof2017*.

Movies Hindi
Catch Bollywood Actor Irrfan Khan this Week on Off Centre

MUMBAI: This week on Off Centre, Anuradha Sengupta talks to one of the finest Bollywood actors in the industry, Irrfan Khan. From being noticed and welcomed as a romantic lead after 22 years in business to his latest release and love, sex, romance in today’s time, he expresses his views and...

Movies Hindi
Zee Studios International's Secret Superstar hits it big in Taiwan

Zee Studios International has collected $700,681 from its release of Aamir Khan-starrer Secret Superstar in Taiwan, making the movie the widest Bollywood film in the country. The film, which also features Zaira Wasim, lit up the box office in India. The distribution company began the next phase of...

Movies Hindi
Zee Studio to premiere the post-apocalyptic horror drama - MAGGIE!

Zee Studio, the hollywood movie destination, brings the Indian television premiere of Maggie. Starring multi-award winner Arnold Schwarzenegger and Academy Award-nominee, Abigail Breslin, this post-apocalyptic drama premieres on 10 December 2017, Sunday at 12 noon and 9 pm.

Movies Hollywood

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories