In a sign of things slowly returning to normal, PVR announced the opening of a new multiplex theater after nearly a year.
The new six-screen multiplex theater — the biggest in Mysore — will open inside Mysore’s biggest mall, Forum Center City Mall, today.
PVR CEO Gautam Dutta said the new muliplex will offer “advanced technological features and best in segment hospitality services”, along with gourmet food.
“Ensuring the safety and security of our customers and employees is our highest aim, and we have taken all precautionary measures to guarantee it,” he added.
The theater is built over 32,240 sq feet and can accommodate a total of 1,078 viewers. It comes with the latest 3D viewing and 4K projection system in all auditoriums, as well as Dolby ATMOS sound and recliner seats.
The company has been perhaps the hardest hit by the COVID-19 among all pan-India companies, due mostly to reluctance on the part of many patrons to spend a couple of hours inside a closed hall during a viral pandemic and enforced lock-downs.
After remaining closed for around eight months, the company’s 176 multiplexes slowly started reopening towards the end of 2020, but are far from achieving their regular business volumes.
Revenue from operations was down around 95% in the Oct-Dec period compared to the previous year.
Nevertheless, investors are likely to take heart from the fact that the company is back on the growth trajectory, at least as far as its footprint is concerned.
With the launch, the company now has 109 screens across 16 properties in Karnataka, mostly in Bangalore. In all of South India, the company has 292 screens across 47 properties.
Similarly, the total number of screens operated by the company in India and Sri Lanka has risen to 844, at 177 properties in 71 cities.
“The south is an important market for us and occupies the major share of screens, and expanding in the region holds a lot of significance for us due to the immense passion for movies among audiences,” said Joint MD Sanjeev Kumar Bijli.
“We have been consistent in strengthening our presence across the country and we look forward to welcoming our patrons in the region with good content and new experiences.”