Kamal Gianchandani, President PVR Pictures thinks the movie 'PK' is likely to stay in the cinemas for around four weeks uninterrupted because there are no other major releases over the next 3-4 weeks.
The average ticket prices (ATPs) for the Q2 went up by 10-12% and spend per head (SPH) went up by 20 percent for the quarter. Occupancy rate for Q2 stood at around 33% and for Q3 too, they look on track, said Sanjeev Kumar Bijli of PVR.
In an interview to CNBC-TV18, Kamal Gianchandani, President of PVR Pictures spoke about sales exceeding company‘s expectations backed by pre-festivities and Diwali cheer.
The company has two big movie releases in the month of February. Moreover they plan to add 20 more screens tin March to the already 60 screens opened this year said Ajay Bijli, CMD, PVR.
Pramod Arora, group president, PVR says if the movie runs for around three weeks in multiplexes and cinemas, the company may add Rs 40-50 crore to its kitty.
Ajay Bijli, chairman and managing director, PVR says the company is in sync with the right locations and hence has very good lease rentals.
PVR business this season has been on upswing as it has not been affected by Indian Premiere League compared to previous years, says Pramod Arora, President & CEO of the company in an interview to CNBC-TV18. However, Arora expects a rise in the average ticket prices in the near term in-line with the inflation anticipated at 7-8 percent.
Multiplex chain operator PVR on Tuesday said it has completed acquisition of a controlling stake in Cinemax India for Rs 395 crore. In an interview to CNBC-TV18, Ajay Bijli, CMD of PVR talked about the operational synergies. He said that as the final acquisition has happened, we are looking at getting lots of operational efficiencies.
Nitin Sood, chief financial officer, PVR told CNBC-TV18 that the combined leverage of both PVR and Cinemax would be around Rs 600 crore once the entire transaction is over.
Pramod Arora, Group President & CEO, PVR, says that L Capital is a strategic investor or private equity investor but they will bring also bring lot of value along.
Ajay Bijli, CMD of PVR said the company is not too dependent on movies; instead the focus is on location building and technology.
In an interview with CNBC-TV18, Nitin Sood CFO, PVR said that the company's bottom-line was affected due to a one-time exceptional charge of Rs 21 crore. However, the operating EBITDA for the fourth quarter of FY12 has seen strong growth, said Sood.
PVR Pictures has finally got the nod to demerge the production business. Speaking to CNBC-TV18, Nitin Sood, chief financial officer of PVR says that post the demerger, PVR, the main entity shall handle the production business entirely. PVR Pictures will turn into a wholly-owned company that will focus only on the distribution business, he says.
The company has reduced the average ticket prices to Rs 155 against Rs 167 earlier. PVR's occupancy rate improved in this quarter due to good film flow and its marketing tools to attract more people.
The much awaited Don 2 released today and PVR expects 80% occupancy rates for the movie in the first week. Pramod Arora, president and chief executive officer, PVR in an interview to CNBC-TV18 said,"We haven’t hiked the ticket prices, but for the weekend it seems like we are doing 100% occupancy,"
PVR Ltd is eyeing EBITDA margin of 22-25% for FY12, with capex of45-55 screens by year end.
PVR Limited acquired remaining 40% stake from JPMorgan and India Advantage Fund of PVR Pictures. In an interview with CNBC-TV18, Nitin Sood, CFO of PVR said that they paid a total of Rs 60 crore to complete the buyout. Sood explained that the company’s main focus is to roll out the exhibition projects across the country.
In an exclusive interview with CNBC-TV18, Ajjay Bijli, chairman and managing director of PVR says cash flows of the company will improve on back of phoenix mills transaction. “Our exhibition business did a profit of about Rs 20 crore,” he says. He further says that the losses incurred were on account of the loss made by PVR pictures.