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PVR INOX plans to expand into Tier II and III cities in South India, with 22% of screens already in these regions.
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The company aims to capitalize on India’s under-screened market, driven by urbanization and rising disposable incomes.
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PVR INOX will invest in renovating high-value properties and expanding premium screen formats.
PVR INOX is aggressively expanding into Tier II and III cities in South India, leveraging the region’s vibrant market. The company’s CFO, Gaurav Sharma, emphasized India’s significant growth potential due to rapid urbanization and rising disposable incomes.
Currently, 22% of PVR INOX’s screens are in Tier II and III cities. Recent expansions include cities like Dharwad, Cuddalore, Machilipatnam, and Patna. The company will focus on renovating key properties and growing its premium screen portfolio, including formats like IMAX, ICE, and 4DX.
PVR INOX’s food and beverage segment will also drive growth, with strategies to diversify menu offerings and enhance dining experiences. Partnerships with popular brands and initiatives like unlimited weekend refills have boosted spending per head.
With a strong film lineup expected in the second half of the year, PVR INOX anticipates robust growth in revenues and profitability as occupancy rates improve.