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PVR to invest Rs 30 crore in upcoming 8-screen property, starts capex for new screens

PVR has opened 18 screens so far and has 20-odd screens, which are in completion stage. The multiplex operator has fresh handovers of about 40-screens as well.

February 06, 2022 / 11:26 AM IST
 
 
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Multiplex player PVR has signed an agreement with real estate developer M3M India for an upcoming eight-screen property at 65th Avenue, the recently delivered 1-million-square-feet retail project in Gurugram.

"It will take around a year's time to open the eight-screen property for public. We should be starting work from April-May onwards. PVR is investing Rs 24-30 crore to set-up the upcoming property," Sanjeev Bijli, Joint Managing Director, PVR Limited told Moneycontrol.

He added that while M3M India has more plans and PVR looks forward to partnering with them but there is nothing concrete in terms of more property launches in partnership with the real estate developer.

With the upcoming property, PVR is starting capital expenditure on new screen additions.