PVR, country’s largest multiplex chain is likely to introduce nano cinemas, named as PVR Talkies in order to take cinema to smaller towns. The company has inked pact with several developers for the same, after considering the real estate cost, economies of scale, ticket sales and higher food and beverages income. These nano multiplexes will have an average area of 50-60 sq ft, much less than the usual area of 30,000-40,000 sq ft area.
The entity already has some small format theatres in places such as Nanded, Aurangabad and Latur in Maharashtra. It plans to open about 100 screens by end of 2014. PVR aims to open 75 theatres this year, across all its formats and in the next 3-5 years, it expects to set up 500 screens by 2015, which includes the PVR and Cinemax pipeline of projects. It plans to expand to 40 cities from 20 at present.
PVR is engaged in the business of film exhibition. The company operates other business such as providing content, film distribution and Entertainment Park through its subsidiaries. Currently, the company has achieved the status of being India’s largest cinema chain.
