PVR Cinemas upgrades iconic Deep Cinemas into a 3-screen multiplex

PVR Cinemas, India's largest and the most premium film exhibitor announced the opening of three new screens in Kanpur, Uttar Pradesh, upgrading the city's iconic Deep Cinemas into a PVR property. Keeping the legacy and memories of the iconic theatre intact, it has been now revamped to be an exclusive destination for movie-goers in the city to witness a modern cinematic experience. Located in the center of the city in Deep Plaza, the cinema is now integrated with latest technology, comfortable seating and superior hospitality features to cater to the discerning audience in the region. This is the brand's third new property launch post the reopening of cinemas after COVID19 lockdown. With this launch, PVR Cinemas consolidated its foothold in the state of Uttar Pradesh with 83 screens across 18 properties and 261 screens and 60 properties in Northern India.

Situated in a densely populated and well-known part of the city, the property is spread across an area of 14693 sq. ft. and can now seat 583 audiences. The new PVR Deep Cinemas will be the first theatre in the city to be installed with RGB Laser BARCO 2K Projector for razor-sharp visuals on screen. In addition to this, the new multiplex is also equipped with cutting-edge technologies like the Harkness Silver screens & Perlux screens and Dolby 7.1 surround sound system for a captivating and immersive visual and audio experience. The cinema in keeping with modern taste has been renovated with stylish decor and has recliners for added comfort to movie goers.

With this opening, PVR consolidates its screen count to 838 screens at 176 properties in 71 cities. Speaking about the launch, Mr. Sanjeev Kumar Bijli, Joint Managing Director, PVR Ltd. said, "We feel extremely privileged to be able to remodel and modernize the iconic Deep Cinemas in Kanpur and offer a world class cinematic experience. India continues to remain an under-penetrated market for the multiplex industry and there is a growing demand for modern theatres, varied content, and the extravaganza at the theaters. Therefore, we see a huge potential for Indian movie exhibitors to make modern cinematic experience accessible to audience across the country. With the launch of our second property in the city, PVR Deep Cinemas, we aim to continue offering an unparalleled cinematic experience to patrons in the largest city of UP."

Commenting on the occasion, Mr. Gautam Dutta, CEO, PVR Cinemas said, "The enhanced version of the city's popular cinema has been designed to offer an exemplary and engaging movie-viewing experience. PVR Cinemas has always been focused on providing a holistic experience backed by best-in-class hospitality and cutting-edge in-theatrical technology. The new PVR Deep Cinemas is also integrated with the city's first RGB laser projectors for an unparalleled experience. We are certain that our patrons will enjoy their visit the new multiplex as well as strengthen our foothold in the region. We look forward to welcoming our guest to experience PVR's latest offering in the city and urge all to stay healthy and safe."

Shares of PVR LTD. was last trading in BSE at Rs.1369.65 as compared to the previous close of Rs. 1361.2. The total number of shares traded during the day was 48841 in over 2650 trades.

The stock hit an intraday high of Rs. 1385 and intraday low of 1349.3. The net turnover during the day was Rs. 66637066.

Source : Equity Bulls

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