HOME > BUSINESS > PVR buys DT Cinemas from DLF Utilities for Rs 500 cr

PVR buys DT Cinemas from DLF Utilities for Rs 500 cr

Debt-laden DLF group has sold its cinema chain, DT Cinemas, to the biggest operator in the space – PVR Ltd – for Rs 500 crore.

dt-cinema

In a statement, PVR said the acquisition of DT Cinemas would add 29 screens and 6,000 seats from 8 properties in the National Capital Region and Chandigarh.

Over the next 12 months, DT has plans to add 10 new screens via two new properties in the NCR, it added.

With the acquisition, PVR will have 506 screens across India via 115 properties in 44 cities.

DLF Rental Business, which owned DT Cinemas, said the move to sell the theatre chain would help provide their customers with a better experience at their malls.

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