Ajay Bijli-controlled multiplex chain PVR is in talks to acquire DT Cinemas, a wholly-owned subsidiary of India’s largest real estate player DLF Group. However the talks between the two firms are at a nascent stage. The deal size could not be ascertained. The valuation process is about to begin in the next few days.
A deal will help PVR strengthen its position in the national capital region (NCR), while allowing DLF to exit non-core business. Like most real estate developers, DLF is also looking at focussing on realty projects and exit allied businesses.
PVR currently runs 108 screens across the country and plans to have 165 screens by the end of this fiscal. DT Cinemas runs 26 screens across five locations in the NCR region and one in Chandigarh. DLF had earlier planned to expand DT Cinemas to most of its malls. Two years ago, DT Cinemas CEO Kajal Aizaz had announced plans to invest Rs 1,250 crore to build 100 screens. But its presence is currently limited to the NCR region.