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Last Updated : May 17, 2019 04:36 PM IST | Source: Moneycontrol.com

Ajay Devgn’s NY Cinemas to invest Rs 600 crore to open 250 screens

His love for cinema drove Devgn to launch this startup, which mainly targets people from smaller towns who do not have direct access to modern films.

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National-award winning actor Ajay Devgn has plans to invest nearly Rs 600 crore in his own multiplex venture NY Cinemas Llp, scheduled to launch in Madhya Pradesh's Ratlam in June, Mint reported.

Devgn plans to open close to 250 screens in the northern and western parts of India. His love for cinema drove him to launch this startup, which mainly targets people from smaller cities and towns who do not have direct access to modern theatres. Without divulging many details, the 50-year-old actor said his theatre chain would be like any other in the market.

Devgn does not view the likes of PVR and INOX as his competition because his aim is not to give a high-end ambiance to his audiences. He said that he was building theatres only for people who do not have access to one right now.

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Apart from setting up new theatres, Devgn plans to acquire single-screen theatres in target cities to meet the aim of 250 screens in his startup's first phase. The company has already acquired two cineplexes in Uttar Pradesh's Hapur and Ghazipur. The startup will scout for more funds only after its first theatre is set up.

"Our prices will differ depending on location and property but the idea is to have as many people watch films as possible, irrespective of where they belong to," NY Cinemas CEO Rajeev Sharma told the paper.

Devgn's production house Ajay Devgn FFilms (ADFL) has produced many hit films including the recent Total Dhamaal, critically-acclaimed films like Parched and TV series Swami Ramdev-Ek Sangharsh. His visual effects team NY VFXWAALA has done the post-production and special effects for films like Shivaay, Bajirao Mastani and Simmba.

"It's not about whether business acumen is important for an actor, it's about whether you like to do these things, do you want to grow that way, and I believe I do," Devgn said. He believes that large-scale production projects will draw people into cinema houses in the future. One of his own upcoming projects, Taanaji: The Unsung Warrior, is a production-heavy film.

"I believe in that kind of cinema. If it is a niche simple film, you may not mind watching it on a hand-held device or the television. But to go to the theatres, you want that experience. So, we are moving towards that. It's tough because there is so much international exposure, like Avengers right now. It's not like we can't do it, we have the technicians and the technology. But what Hollywood can do in Rs 5,000 crore, we have to attempt in Rs 100 crore. That is the challenge," Devgn said.

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First Published on May 17, 2019 04:36 pm
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