PVR INOX to add 100 screens in 2025 with investment of around ₹200 crore

Indian multiplex chain PVR INOX Ltd plans to add around 100 screens in 2025 requiring an investment of around Rs 200 crore, reported PTI.

Sanjeev Kumar Bijli, Executive Director of PVR INOX Ltd., said the company has so far opened around 70 screens and closed about 45-50 screens in 2024 and is “on track” with its plan to close down about 75 screens while adding 120 screens this year.

When asked about future expansion plans, Bijli said, "The following year we are looking at adding almost 100 screens per year."

PVR INOX currently operates 1,744 screens across 355 properties in 111 cities across India.

"We are looking at asset light model now going forward," Bijli said, adding a large contribution to the investment will come from the developers.

Commenting on market dynamics, Bijli acknowledged challenges in the first half of the fiscal year due to delays in movie releases. However, he expressed optimism about the third quarter.

"Q3 seems to be in a better place now. October was a bit dull, but November is firing already," the executive said.

"Second half (of the fiscal) is looking much better, first half was bit muted because a lot of movie releases got pushed to the second half," he added.

The company on Friday launched an AI-powered WhatsApp chatbot, Movie Jockey (MJ), for movie discovery and booking experience.

The shares of PVR INOX were trading at ₹1,460.65 apiece, more than 1% up from Thursday.