PVR

The Company was incorporated on April 26, 1995 under the 
 Companies Act as Priya Village Roadshow Limited and obtained 
 a certificate of commencement of business on December 4, 1995. 
 On June 28, 2002 the name of our Company was changed from 
 Priya Village Roadshow Limited to PVR Limited consequent to 
 the exit of Village Roadshow Limited from our Company. We also 
 changed our registered office within the same state from 50, West 
 Regal Building, Connaught Place, New Delhi 110 001 to 61, Basant 
 Lok, Vasant Vihar, New Delhi 110 057. The change in registered 
 office has been approved by resolution of our Board on August 5, 
 2005.
 
 Major events:
 
 A chronology of some key events since the Company was incorporated
 is
 set forth below:
 
 Calendar Year   Event
 and Month
 
 November, 1994  Joint venture agreement executed between Village
                 Roadshow Limited, Australia and PEPL.
 
 April, 1995     Our Company was incorporated as a joint venture
                 between Village Roadshow Limited and PEPL.
 
 February, 1996  1,199,300 Equity Shares of our Company issued to
                 Ajay Bijli Motor Finance Limited., which company is
                 currently called BIPL (our Promoter).
 
 June, 1997      Opened India's first Multiplex Cinema PVR Anupam, a
                 four-screen cinema, at Saket, New Delhi.
 
 June, 1997      Computerized box office operations by selling
                 computerized tickets at our cinema, PVR Anupam.
 
 January, 2000   Commenced single-screen cinema PVR Priya at
                 Vasant Vihar, New Delhi.
 
 August, 2001    Opened a four -screen Multiplex Cinema, PVR Naraina
                 in New Delhi.
 
 November, 2001  Opened a three-screen Multiplex Cinema, PVR
 Vikaspuri
                 in New Delhi.
 
 November, 2002  PEPL acquired the entire share holding held by
                 Village Roadshow Limited in our Company.
 
 May, 2003       WITEC, in its capacity as Trustee of India Advantage
                 Fund - I, a trust registered under the Indian Trusts
                 Act, 1882 and acting through its investment manager
                 ICICI Venture Funds Management Company Limited,
 agreed
                 to acquire 38.45% stake in our Company by way of
                 purchase of Equity Shares from BIPL and by way of
                 subscription to a fresh issue of Equity Shares made
 by
                 the Company. WITEC also subscribed to optionally
                 convertible debentures issued by our Company.
 
 May, 2003       Opened a seven-screen Multiplex Cinema, PVR Gurgaon
                 at the Metropolitan mall, Gurgaon, Haryana.
 
 November, 2004  Opened India's largest Multiplex Cinema, PVR
 Bangalore,
                 with eleven screens at the Forum mall, Koramangla,
                 Bangalore.
 
 May, 2004       Opened PVR Plaza, a single-screen cinema with a
                 heritage ambience at Connaught Place, New Delhi
 
 November, 2004  Commenced operations at the first multiplex under
 the
                 management fees/franchise model - PVR SRS, a three
                 screen Multiplex Cinema at SRS mall, Faridabad,
                 Haryana.
 
 March, 2005     The optionally convertible debentures issued to
 WITEC
                 were converted into equity shares of the Company.
 
 March, 2005     Opened our tenth Multiplex Cinema, PVR EDM, a
                 three-screen cinema at East Delhi mall, Uttar
 Pradesh.
 
 
 
 2005
 
 -PVR Ltd, a multiplex cinema operator, has fixed its IPO price at Rs
 225