PVR forays into overseas market, opens up 9 screen multiplex in Sri Lanka's Colombo

New Delhi, Nov 08: Leading multiplex operator PVR is scouting overseas destinations for expansion and plans to open its first project in Sri Lanka.

Film exhibition firm PVR on Friday announced its foray into the Sri Lankan market with the opening of its first theatre in collaboration with Shangri La Group. PVR Lanka at One Galle Face Mall is a nine-screen property with premium luxury format besides dedicated auditorium for young ones and family, the company said in a regulatory filing.

"Entering Sri Lanka was part of our business strategy for FY19-20...the socio-cultural similarity between the two nations (India and Sri Lanka) makes the scope for business growth opulently clear," PVR Chairman and Managing Director Ajay Bijli said.

He further said the company's vision has been to introduce new concepts and make regional content more accessible for the audience in Sri Lanka.

"The Indian film industry has grown exponentially in the last few years and has a global fan base that we aim to cater to through innovation and expansion," Bijli added. PVR said its first property in Sri Lanka is spread across 38,454 square feet with a seating capacity of 1,176. The company has 809 screens at 171 properties in 70 cities in India.