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PVR banking on Avatar 2 and Pathaan, expects strong recovery in revenues

With Rs 3,030 crore in Hindi box office collections thus far, revenues are expected to recover to 80-85 percent of pre-Covid levels in FY23, and fully recover by FY24.

December 02, 2022 / 09:30 PM IST
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After a dull second quarter in FY23, multiplex operator PVR is betting big on upcoming content for a recovery in revenues. The company is counting on films like the Hollywood venture Avatar 2 which is directed by James Cameron, Ranveer Singh's Cirkus, and Shah Rukh Khan's Pathaan, among others.

"I am bullish that PVR will exceed pre-Covid levels in FY23. While it would be difficult for Q3 to be the same as Q1, October and November are looking very promising," said Ajay Bijli, Chairman and Managing Director, of PVR on the sidelines of the launch of a premium format called Director's Cut in Bengaluru.

Bounce back

Bijli said that after being shut for 18 months cinemas have been open for nine months now, so business is bound to bounce back. "Footfalls and occupancy will reach pre-Covid levels in FY23. Avatar 2 will be massive and emerge as one of the biggest films of this year after RRR and KGF 2. Plus, there are many films after Pongal," he said.