Vatika ties up with PVR for multiplexes; to invest Rs 300 crore

MUMBAI: Real estate firm Vatika Group has tied up with multiplex operator PVR to open and operate 26 multiplex screens in three townships - Vatika India Next, Vatika Infotech City and Vatika City Central in Gurgaon, Jaipur and Ambala respectively.


The estimated investment in the project will be approximately Rs 300 crore by both the companies.


The three multiplexes, which will have a capacity to house 5,000 people, are expected to be operational by the fourth quarter of 2018-19.


According to the Vatika Group, once operational, these will be the first PVRs in Jaipur and Ambala and will also be the largest multiplex in Gurgaon with 14 screens. 


Vatika Group head sales and CRM Vikas Sahdev said that the multiplexes will make the townships attractive from an entertainment standpoint. 


PVR chief development officer Ashwani Handa said, “We are excited about our partnership with Vatika Group for such a vast geographical project, spread across three cities - Jaipur, Ambala and Gurgaon. The locations in all these cities are very promising in terms of developing infrastructure and being a hub of the real estate sector.” 


Currently, PVR operates 462 screens in 104 properties in 44 cities across India.

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