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Last Updated : Jul 08, 2016 07:04 PM IST | Source: CNBC-TV18

PVR hopes to add Rs 200 crore revenues from DT Cinemas buy

The multiplex leader is looking to add EBITDA of Rs 40-50 crore post DT Cinemas' acquisition, say PVR promotors Ajaj and Sanjeev Bijli.

PVR management is relieved that Competition Commission of India (CCI) has given its nod to the company's acquisition of DT Cinemas as similar ethos and qualities of the two companies will provide great synergy going forward, said Sanjeev Kumar Bijli, Joint MD of the multiplex company.

Speaking to CNBC-TV18, company CMD Ajay Bijli said the DT acquisition will further boost PVR's revenues by Rs 200 crore and will add 60-70 new screens this year. With this deal, the company will add an EBITDA of Rs 40-50 crore, said Bijli brothers in unison.

While almost 80 percent of the company's portfolio is under matured properties, some properties opened last year will mature and strengthen books going ahead, Ajay said.

PVR's operating margins last fiscal year stood at 17.9 percent. PVR's CMD is targeting to improve margins by the scale of expansion, particularly in big cities.

For more, watch accompanying video.

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First Published on Jul 8, 2016 06:34 pm
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