PVR INOX Bengaluru’s largest cinema at Phoenix Mall of Asia with 14 screens

PVR INOX on Friday announced the launch of Bengaluru’s largest cinema at Phoenix Mall of Asia with 14 screens. It is also the largest cinema in the South, the company said.

The megaplex located in the largest and one of the most premium malls in Bengaluru features three premium formats – MX4D, ScreenX, and Insignia. PVR INOX has introduced the first MX4D, the immersive 4D movie experience and ScreenX, 270-degree cinema viewing in South India, the company said in a release.

“The new cinema will augment PVR INOX foothold in Bengaluru with 172 screens in 26 cinemas and in the state of Karnataka with 219 screens in 37 cinemas. The company consolidated its presence in South India to a total of 572 screens in 100 properties,” it said.

The new cinema has a seating capacity of 1,997 audiences and is equipped with 4K laser projection, advanced Dolby Atmos surround sound and Volfoni 3D screen, PVR INOX said.

Ajay Bijli, Managing Director at PVR INOX said the southern region is a critical market for the company with a steady supply of regional content and passionate consumer demand.

“We have received an overwhelming response for all our premium screen formats nationwide, prompting us to unveil our largest cinema in the South with 14 screens including 3 superlative cinema formats – MX4D, Screen X and Insignia. It has been PVR INOX’s strategy to make cinemas more experiential and this Megaplex at Phoenix Mall of Asia perfectly aligns with our vision,” Bijli said.

PVR INOX has 1,741 screens across 361 properties in 113 cities across India and Sri Lanka. During the third quarter of fiscal year 2024, the company reported 8.3% rise in its revenues on a year-on-year basis at ₹1,604.7 crore. Net profit stood at ₹12.8 crore as compared to a net loss of ₹2.45 in the same quarter a year ago.

Shares of PVR INOX have lost over 15% since the beginning of the year. The stock is down over 2.5% in the last one year.