The project will come up on 2.5 acres in Nandini Layout, and DIPR has recently floated a tender to select a consultant to prepare a feasibility report and structure the PPP model.
The dip in average daily footfall in shopping malls was due to extreme heat, a lack of major film releases, weeks-long parliamentary elections, according to a report by GeoIQ. Of the 30 malls surveyed, only 10 reported an uptick, data shows.
The company is trying to grow the business through loyalty programmes, rental negotiations, debt reduction, and by setting up food courts with Devyani International.
The management guides to annual EBITDA level synergies of Rs 225 crore over 12-24 months in the core exhibition business
The company's revenue from F&B sales grew 21 percent in FY24, higher than the sales from movie tickets, which registered a 19 percent growth in the last financial year.
A part of the valuation discount can be justified because of the recent performance
The profit margins will widen marginally, but will continue to be lower than the pre-pandemic levels due to the competition faced by the industry from over the top service providers like Netflix and Amazon Prime, the report by Crisil Ratings said.
The blaze erupted at around 9 am in a screen of Time Cinema multiplex, which has seven screens and is located on the top floor of a four-storey building in Pal locality, a fire official said.
The combined collections of Rajinikanth-starrer Jailer, Sunny Deol's Gadar 2, OMG 2 staring Akshay Kumar and Telugu language film Bhola Shankar touched the Rs 100-crore mark on August 15.
While higher ticket and food sales hit margin in Q1FY24, the popularity of OTT apps is a threat, going ahead. Avoid long-term investment.