PVR to open 250 screens; will invest Rs 300-400 cr

New Delhi, Nov 22 (UNI) Country's largest cinema exhibitor PVR, is on a major expansion spree as it plans to increase the number of screens to 250 over the next 24-36 months, with an investment of Rs 300-400 crore.

''We are targeting 250 screens across India within the next two or three years, with an investment of Rs 300-400 crore'' company CMD Ajay Bijli told reporters today.

''We will raise this money through equity, internal accruals and debt,'' he added.

Priya Village Roadshow (PVR), which began operations in June 1997 with the launch of PVR Anupam in Saket, has currently 95 screens in 24 multiplexes across 14 cities. It uneviled its plans at the launch of its new brand of cinemas, PVR Premiere here.

PVR Premiere will cater to the evolving tastes of consumers and will have two gold class and four premiere class auditoriums.

The company said a substantial part of the expansion would be pegged around this concept in the city, and later be extended to Mumbai as well.

''With the multiplex industry booming and growing at 40 per cent, the exhibition industry is taking a step forward with the launch of PVR Premiere, which will raise the bar for multiplexes in the country,'' said PVR Cinemas President Pramod Arora.

UNI