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With the launch of PVR Lanka in Colombo on Friday, India’s leading film exhibition company PVR Cinemas entered the Sri Lankan industry.PVR partnered with Shangri La Group to launch the new nine-screen property which includes two premium cinema formats–PVR LUXE and one PVR Playhouse for children.
- The estate has an area of 38,454 sq. on two floors. Ft. and housing for 1,176 people. Sanjeev Kumar Bijli, Joint MD, PVR, added that Sri Lanka’s market dynamics are very close to India’s, which helped the company make strategic decisions.
With the launch of PVR Lanka in Colombo on Friday, India’s leading film exhibition company PVR Cinemas entered the Sri Lankan industry.
PVR partnered with Shangri La Group to launch the new nine-screen property which includes two premium cinema formats–PVR LUXE and one PVR Playhouse for children.
Ajay Bijli, PVR’s chairman and managing director, said, “Entering Sri Lanka was part of our business plan for FY 19-20 and I’m glad we’ve been able to do it. The two nations ‘ socio-cultural similarity opulently clarifies the potential for business growth. The aim was to introduce new concepts and make the Sri Lankan audience’s local content more available.
Over the past few years, the Indian film industry has grown exponentially and has a global fan base to which we aspire through creativity and expansion.
The estate has an area of 38,454 sq. on two floors. Ft. and housing for 1,176 people. Sanjeev Kumar Bijli, Joint MD, PVR, added that Sri Lanka’s market dynamics are very close to India’s, which helped the company make strategic decisions.
“Sri Lanka is also a very small market at this time with only one-screen and two-screen theaters from a cinema exhibition point of view. We watch movies from Tamil, English, and Hindi, and the economy is strong and growing, “he told ET
He added that the firm has signed a lease with a local real estate player for another seven-screen site, and the property is expected to open next year in December.
Sri Lanka Seems a great option for PVR.
With the release, in 69 Indian cities and Colombo, PVR now has a total of 809 screens at 171 assets.
PVR Cinemas has opened its first 3-screen property in Satna at GMS City Centre Mall, Madhya Pradesh under its subsidiary ‘PVR Utsav’ in order to offer a hygienic, safe and secure cinematic experience to the drifting audience in smaller towns of the country.
“PVR Utsav is a worthy addition to our offerings, which is aimed at making an elevated cinematic experience more accessible to each part of the country and to address the growing base of the discerning audience. With PVR Utsav, we are focusing on cinema aspect ratio in non-metros to ensure further growth of the cinema industry in India,” said Gautam Dutta, CEO, PVR.
