Multiplex chain operator PVR has set aside a capital expenditure of up to Rs 250 crore for the current fiscal for opening new screens and refurbishing the existing ones. The company will add 65 screens this fiscal year, in which 8 screens have already been added with PVR Panvel and PVR Cinemas at Singapore Mall, Lucknow.
PVR has recently acquired 32 screens of DT Cinemas at a revised consideration of Rs 433 crore, after the Competition Commission had approved PVR’s proposed acquisition of DT Cinemas from DLF while directing the companies to exclude certain assets from the deal to address anti-competitive concerns.
