PVR embarks on a New Revolution, Launches "The People’s Cinema"-"PVR Talkies"

PVR Ltd has announced that PVR Cinemas, the largest cinema exhibitor in India, on September 19, 2006 has announced its strategic foray into tier II and tier III cities with the launch of the PVR Talkies in India. PVR Talkies, is aimed to resurrect the cinema experience in smaller towns in India and will kick-start with pilot projects in Aurangabad and Latur. The theatres which are digital ready will have an unmatched price range between Rs 40/- and Rs 60/- and is slated to be operational from last week of September 2006.

PVR Cinemas, which transformed the entertainment skyline of the country with pioneering initiative of multiplex culture in India in 1997, is all set to bring in the next revolution with digital theatres. Once with technology is in place, these theatres will work on the principle of digitized content being distributed to theatres through satellite or fiber, upload to a Digital Cinema server, which serves it to a digital projector for screening and hence bridging the demand supply gap (movie prints vis-a-vis no. of screens), in the years to come and that too, at no additional distribution costs.

The digital theatres are also expected to impact the movie industry significantly as it is expected to unleash a revolution turning the Company's vision into reality with a multiplex in every town and city. After PVR Cinemas revolutionized India's urban milieus within the framework of consumerism with the multiplex's steady proliferation in the metropolis, PVR Talkies now is all set to target tier II and tier III cities. This will enable wide releases of a movie in different distribution territories all across the country ensuring large scale consumer & industry benefits with proportionately reduced cost, incurred on the celluloid prints.

Pan-India openings will also guarantee larger release made available across different territories leading to nationwide screenings, which will in turn ensure better return on investments for producers, distributors among others. It would also be extremely helpful in curbing piracy, widely prevalent in India in the absence of right technology.

PVR Talkies has identified and accommodated overlapping tastes and preferences by including newer set of audiences who also have a huge appetite of watching movies other than urban areas. The design philosophy will be based on functionality, youthfulness and vibrancy in comfortable surroundings, not compromising on industry standards.

Highlights of PVR Talkies

- Computerized tickets
- Seating Capacity Aurangabad- 3 screens, 1151 seats, Latur-3 screens, 1148 seats
- Integrated Security Devices and Systems
- Centrally Air Conditioned / or air cooled
- Physically challenged patron facility
- Reclining seats
- Dolby Digital sound System
- Kids Zone
- Digitally enabled projection technology
- Customized Food Court "KHANA PEENA"

The Target States

Casing 13 states and 70+ cities in Phase I

Mr. Ajay Bijli, Chairman and Managing Director, of the Company, "In 1997, we enhanced the way India went to the movies. Now, in the second stage of our mission, we are taking our enhancement to more and more places in the country. With PVR Talkies, the people's cinema has arrived. It is my fervent hope that PVR Talkies will induce people to come back to the big screen and rediscover the true magic of the movies".

Source : Equity Bulls

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