PVR, multiplex chain operator is eyeing to add about 90 screens this year entailing an investment of Rs 250 crore, which will take its total screen count to over 450. The company, which had announced acquisition of Cinemax earlier this year, plans to rebrand some of Cinemax theatres in a phased manner.
PVR has picked up 7-8 Cinemax properties of the total 38 in Phase I that it will rebrand. These properties are located in cities like Delhi, Bangalore and Hyderabad.
PVR is looking for locations in Mumbai and Bangalore for expansion of its luxury offering ‘DC’. Though currently, it is very small at about Rs 25 crore in business, PVR believes it has the potential to become a Rs 200 crore brand in three years. DC (Director’s Cut) is a high-end format with theatres, restaurants, books and merchandise. The cinemas screen is independent and rare films along with mainstream movies.
