PSTL tie-up with SGCL for 60 malls in Punjab

Mumbai, Aug 20 (UNI) Pyramid Saimira Theatre Ltd (PSTL) has tied-up with M/s Spirit Global Contructions Ltd (SGCL) for construction of 60 malls in Punjab.

Each mall is expected to be two lakh sq feet to one million sq feet in size and all malls are expected to be completed within the next 36 months.

PSTL Managing Director P S Saminathan told UNI that, ''The company has 100 threaters in Tamil Nadu and plans to reach the 400 threatre mark in the current calender year. PSTL has now tied up with threatres across India and has also launched Karnataka operations.'' PSTL has alliances with reputed industry names such as Tata Tele (Content Distribution), Prasad Labs (Content Conversion), Real Image and Value Media (outsourcing of the entire technical process) and Delta Electronics Inc (development and manufacture of India-specific projectors), he said.

Going forward, PSTL is all set to harness the potential of booming Entertainment and Media industry, projected to be worth Rs 83.74 crore by 2010. PSTL has already tied up for complete capital on plant and Machinery component for all theatres (2000), worth more than US dollar 150 million. It has also joined hands with reputed builders to develop propoerties in Tier II cities exclusively for itself. The company has blocked very little money here and its capital will enable it to increase its presence and achieve huge economies of scale, he added.

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