New Delhi: Multiplex operator PVR Ltd will launch budget cinema halls in Maharashtra in September as part of Rs 2 billion plan to expand to smaller towns, the company said.
"Movie-going experience can be improved in the smaller towns. The appetite to watch movies is there and that's where we see the growth potential," Chairman and Managing Director Ajay Bijli said on Tuesday.
PVR Ltd is expanding into smaller towns and cities through the launch of PVR Talkies, a brand of budget cinema halls, he said.
The company will initially start off with 50 budget screens and gradually expand it to 200 PVR Talkies spread across 70 cities in 13 states, he said.
"Currently people in smaller towns pay Rs 40-60 for premium tickets and at the same cost we will give them a much more enhanced experience," he said.
PVR Cinema multiplexes will be for the bigger cities, he added.
The company expects operating margins for PVR Talkies to be on the same level as that of PVR Cinema. "The capital costs for PVR Talkies will be lower and so will the revenues. The balance will be maintained," Bijli said.
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