PVR, the largest cinema exhibition company in India, announced an investment of 80-100 crore towards renovation and technology upgradation to evolve from 4K projection to laser projection.
“We are continually revamping our properties across the country to give them a fresh look as well as match the changing technology. These renovated properties have the latest technology in terms of projection and sound”. With the industry moving from 2K to 4K, we too invested in 4K. Now with the advent of laser technology, we will soon be investing in laser projection,” said Gautam Dutta, chief executive officer of PVR Limited.
PVR’s revenue share from non-box office sources has risen from 34 per cent in 2010-11 to 44 per cent in 2015-16. These include both food and beverages as well as sponsorship income or media sales. Of PVR’s
1,700 crore revenue, F&B has a share of 25 per cent.
PVR is also planning to add 70 screens every year, with an investment of
250 crore. It says it is also focusing on new offerings, superior ambience and cashless transactions to differentiate the brand. The firm recently witnessed a change in its holding structure as global private equity firm Warburg Pincus took 14 per cent stake in the firm for 820 crore.