See 30% growth in revenues this year: Cinemax India

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In an interview with CNBC-TV18, Rasesh Kanakia, Chairman, Cinemax India , speaks about the latest happenings in his company and sector.

Here is a verbatim transcript of the exclusive interview with Rasesh Kanakia on CNBC-TV18. Also watch the accompanying video.

Q: There is a lot of buzz in the entire industry about talks of consolidation between your peers Inox and Fame, what is your take on the entire situation and what's happening currently?

A: We have been feeling that consolidation with smaller chains is going to be happen very early. The large consolidation has been coming in the news, nothing has come in the concrete and this talk, rumours has been going for a long time. So we cannot actually comment until something is announced and something comes on to the market. But I think consolidation is bound to happen in future.

Q: You have a lot of plans; you have launched two screens and plan to launch five more theatres as well, can you give us the exact investment that you have lined up and the time line for when these five theatres plan to launch would be complete?

A: The five theatres, which are lined up, are already with fit outs, we have already spent the capex and we are waiting for the permission to come in. So we expect all the new location to start before this March ending. We should be around 101 screens by March ending. At the moment, we are there at 90 screens and we expect to go to 101 screens by March end.

Q: How much of a revenue uptick do you expect from this?

A: Already in the Q3, we have seen a significant jump, but overall on full year basis, we expect around 30% jump in revenues.

Q: What are your current occupancy levels? In particular could you talk about Q3 and how that would shape up?

A: Q3 has been very lucky for the entire industry; '3 idiots', '2012' and 'Avatar' has really changed the occupancy status. We have approximately 37% occupancy for Q3, which is a very good jump from 22-24% occupancy YoY.

Q: So what can we expect in terms of Q3 performance from you?

A: Q3 performance will be excellent for all the peers and for Cinemax also. We expect good 30-40% jump on YoY basis.