Stock Report

PVR Cinemas adds a new 4-screen property in Narsipatnam, Andhra Pradesh



Posted On : 2022-01-14 17:11:30( TIMEZONE : IST )

PVR Cinemas, India's largest and the most premium film exhibitor announced the opening of a 4-screen property in Narsipatnam, a town in Visakhapatnam district of Andhra Pradesh. The company now operates the former Sreekanya Cinemax as one of its properties making it the town's largest and most contemporary cinema theatre.

Located in the centre of the city, the cinema has a seating capacity of 1188 audiences. The brand forays into Narsipatnam, a tourism hub to introduce new benchmarks of movie viewing in the region. The property is equipped with cutting-edge technologies and features Clarus Screens from Harkness and Christie 2K projectors which will deliver an immersive viewing experience to moviegoers. For an unparalleled surround sound experience, the audis host advanced Dolby 7.1 and Dolby ATMOS that truly allows crystal-clear, high-definition immersive audio.

With this launch, PVR Cinemas consolidated its foothold in Andhra Pradesh with 13 screens in 3 properties and 296 screens across 48 properties in South.

Commenting on the launch, Mr. Sanjeev Kumar Bijli, Joint Managing Director, PVR Ltd, said, "South holds immense importance in terms of our expansion plans in the geography as it is highly underpenetrated in terms of multiplexes. When cinemas reopened after the lock-down, South Indian box office continued to perform well increasing optimism of business recovery. In line with the company's strategy to increase its presence in Tier-2 and Tier-3 cities, we are pleased to introduce Narsipatnam's most modern multiplex to provide best in class entertainment and enhanced experiences to its local populace."

PVR Sreekanya Narsipatnam will be the first theatre in the town to have DOLBY ATMOS, the world's leading immersive audio technology and offers a wide array of F&B curated to suit the tastes of the region and a spacious lobby, make this addition an exclusive offering.

With this opening, PVR strengthens its growth momentum in FY 2021-2022 with 860 screens at 179 properties in 73 cities (India and Sri Lanka).

Shares of PVR Limited was last trading in BSE at Rs. 1555.60 as compared to the previous close of Rs. 1546.80. The total number of shares traded during the day was 63234 in over 3606 trades.

The stock hit an intraday high of Rs. 1569.35 and intraday low of 1521.40. The net turnover during the day was Rs. 98234375.00.

Source : Equity Bulls

Keywords

PVR INE191H01014 Multiplex Narsipatnam Visakhapatrnam AndhraPradesh 4Screens