“We expect an annual capex of Rs.200-250 crore this year on rolling out new screens and refurbishment of existing screens,” PVR Cinemas chief executive officer (CEO) Gautam Dutta told PTI. “The new screens being added to the PVR Cinemas are PVR premier only. At present PVR has 70 million footfalls annually and with the acquisition of DT Cinemas, it expects additional 10 million footfalls. Currently, PVR has a cinema circuit of 553 screens at 121 locations in 47 cities including DT Cinemas,” Dutta added. “Approximately 65 screens will be added in this fiscal year, in which 8 screens have already been added with PVR Panvel and PVR cinemas at Singapore Mall, Lucknow.

Source: Mint June 12, 2016 13:18 UTC