PVR Cinemas exploring options to expand overseas operations

Mumbai, Feb 24 (PTI) Country''s leading multiplex chain,PVR Cinemas, is exploring options to expand its operationsoverseas by running theatres on management contracts, a topcompany official said today.

The New Delhi-based listed entity would be the secondsuch media and entertainment player to enter the global marketafter Anil Ambani-led ADAG''s Big Cinemas that operates screensin Malaysia and the US markets.

"We are exploring options to enter the internationalmarket. We might run a few theatres on management contracts.

However, we still feel that there is a huge scope in theIndian market where the demography is changing every fivemiles," PVR''s Group president, Pramod Arora, told PTI here.

He, however, would not divulge any further details onthe same.

The company presently runs about 142 screens at 32locations across 18 cities in India and plans to open another80-100-screens in FY 12 at an investment of Rs 100-120-crore,Arora said.

"We will be present in at least 27 cities by end-thisfiscal. By then we will have around 242-screens. The newadditions this year would be cities like Kolkata, HowrahRanchi and Patna," Arora said.

On the growth story of Indian cinema and entertainment,Arora said that the cinema exhibition industry in India isgrowing at 10 per cent per annum driven by multiplexes. (MORE)PTI PP JJ VKV