PVR Cinemas, the largest cinema exhibition company in India today announced the launch of its first multiplex at Venu Mall, Nizamabad, Telangana. Strengthening its footprints across key markets, the newly opened 4-screen property is integrated with best-in-class theatrical solutions and a host of personalized hospitality services to offer an immersive and seamless cinematic experience.
With this launch, PVR Cinemas consolidated its foothold in Telangana with 71 screens in 13 properties and 299 screens across 49 properties in South.
Located at the distance of about 175 kms from North-west of Hyderabad, the new property has a total seating capacity of 1212 audiences and marks the entry of the first national multiplex chain in Nizamabad.
To provide an unparalleled captivating and immersive experience, the 4-screen property is equipped with cutting-edge cinematic technologies including 2K projectors, Next-Gen 3D screens and Dolby Atmos sound.
Speaking on the launch, Mr. Sanjeev Kumar Bijli, Joint Managing Director, PVR Ltd, said, "South has a strong base for movie culture and there is great scope for expansion in the backdrop of a vibrant film industry. Since the appetite for movie watching is higher in south, there is a wide acceptance to Hollywood and Bollywood movies among audiences. Our entry in Nizamabad is aligned to the company's strategy to increase its presence in Tier-2 and Tier-3 cities to provide the local population access to best in class entertainment facilities and an enhanced movie going experience."
The cinema has a warm and welcoming ambience with visually dazzling interior with magnificent chandeliers in the foyer area, red fabric panels on audi walls with 'V' patterned DVD artworks of all great movies that accentuate the luxury experience. In addition, a wide range of gourmet delicacies served in the luxury of comfortable recliners further adds to the property's unique offerings.
"Continuing with our endeavour to bringing world-class movie watching experience to every part of the country, we are proud to bring the brand's first property in Nizamabad. The new multiplex will be the first theatre in the city to feature recliners in all auditoriums along with Dolby Atmos immersive sound experience. We are certain patrons will enjoy the superlative hospitality of PVR." said Mr. Gautam Dutta, CEO, PVR Ltd.
There is a strong impetus on screen addition in PVR as it plans to add 120-125 screens in FY'23. With this opening, PVR strengthens its growth momentum in FY 2022-23 with 858 screens at 174 properties in 76 cities (India and Sri Lanka).
Shares of PVR Limited was last trading in BSE at Rs. 2124.70 as compared to the previous close of Rs. 2129.95. The total number of shares traded during the day was 9641 in over 1168 trades.
The stock hit an intraday high of Rs. 2138.35 and intraday low of 2102.55. The net turnover during the day was Rs. 20398167.00.