PVR Ltd., the largest and the most premium film exhibition company in the country, announced the launch of its 8th multiplex in the city of Hyderabad, today. The 6-screen property is located in a convenient location at Hyderabad Next Galleria in Musarambagh, Hyderabad. Designed on the boutique cinema concept and equipped with advanced in-cinema technologies, the new multiplex offers enhanced cinematic experience to the movie patrons. With this launch, the total screen count of PVR Cinemas stands at 58 screens at 10 properties in the state of Telangana, augmenting its growth in the Southern region of the country to 259 screens in 43 properties.
The new PVR Cinemas is easily accessible owing to the metro connectivity from across the city. The property spreads across an area of 26,630 sq. ft with a seating capacity of 985 seats. It is integrated with world-class technological solutions like BARCO 2K projection system that regulates brightness and vibrant colors to ensure razor-sharp picture quality. In addition to this, the auditoriums are equipped with Dolby 7.1 surround sound and next-generation 3-D, bringing an exceptional digital movie experience with excellent visuals and audio quality. Further, the UHB 3D system is brighter in comparison to the conventional 3D system as the Harkness Silver and White Screens aids in delivering an exceptional video quality. With an array of digital first features and a host of hospitality services, PVR reinforces its focus in enabling a seamless movie viewing experience at the theatres.
Commenting on the launch, Mr. Sanjeev Kumar Bijli, Joint Managing Director, PVR Ltd. said, "We are pleased to announce the launch of our new boutique property in Hyderabad. This is the first launch of this year and we look forward to continuing with our expansion plans in FY 2019- 2020, across the country. Innovation and the endeavor to introduce new concepts and offerings have been at the core of our business strategy and we are certainly positive that the new multiplex in Hyderabad will be well received by the movie patrons."
He added, "I, on behalf of the whole PVR team would like to thank the L&T Realty Ltd. to let us be a part of their sound property, Hyderabad Next Galleria in Musarambagh, and we look forward to a resounding association."
Mr. Gautam Dutta, CEO, PVR Ltd., said, "With this launch, we reiterate our focus in introducing new concepts, specially developed to offer an enhanced experience to our patrons at the theatres. With advancements in technological solutions, it is equally imperative to identify customer preferences to be able to establish a connection with them. The new multiplex integrated with state-of-the-art technological solutions and plush interiors stands as a unique property with a comfortable yet classy ambiance, perfectly, designed for moviegoers."
The interior décor of PVR Musarambagh is designed on the theme of theatrical Art, carrying the characteristics of art deco style. The theatre celebrates distinctiveness with the elements of art decor. Additionally, PVR cements its ardent consumer-centric approach by offering a wide range of gourmet delicacies and with the Quick Tix facility at the box office, seamless experience is guaranteed to the customers at PVR theatres.
With this opening, PVR stands at a total screen count of 754 screens at 162 properties in 64 cities.
Shares of PVR LTD. was last trading in BSE at Rs.1635.95 as compared to the previous close of Rs. 1695.55. The total number of shares traded during the day was 14686 in over 716 trades.
The stock hit an intraday high of Rs. 1691.55 and intraday low of 1625. The net turnover during the day was Rs. 24203915.