PVR Opens Five-Screens Multiplex At Hyderabad

PVR announced the opening of five-screens multiplex at Hitech-City, Next Galleria in Hyderabad. With this launch, PVR now operates the largest multiplex network with 617 screens at 133 properties across 51 cities.

This new multiplex at Hyderabad is equipped with 4K projection system, next-generation 3D-enabled screens and 7.1 Digital Dolby surround sound in all auditoriums. With the opening of this multiplex, company now has 5 properties and 28 screens in the state of Telangana; augmenting its presence in the Southern region of the country to 147 screens in 22 properties.

As on Q3FY18, the total number of screens for the company stood at 612. In the concall post Q3FY18 quarterly results, company had highlighted its focus on expansion in South India compared to other markets. At present, screen addition for FY19E is expected at 70, however, more clarity is expected in Q1FY19E.

PVR has 617 screens at 133 locations spread across 51 cities. Geographically, 41% of the screens are in West followed by 33% in North, 22% in South and 4% in East India. Ticket sales contributed 59% of revenue in FY17 followed by F&B (28%) and ad (13%). PVR aims at raising its total screen capacity to ~650 screens by FY18E end (focused more on tier-II and tier-III cities, ~20% revenue). It also has plans to expand operations in Sri Lanka, which are likely to commence over the next 2-3 years.
PVR Ltd is currently trading at Rs 1423.15, up by Rs 12.25 or 0.87% from its previous closing of Rs 1410.9 on the BSE.

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