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PVR Cinemas launches its first multiplex at The Royal City of Punjab, Patiala

Posted On : 2022-06-17 22:12:03( TIMEZONE : IST )

PVR Cinemas launches its first multiplex at The Royal City of Punjab, Patiala

PVR Cinemas, the largest cinema exhibition company in India today announced the launch of its first multiplex at VRC City Mall, Patiala, Punjab. Strengthening its foothold across cities, the new 4-screen cinema is served in a luxuriously palatial setting with the highest standard of entertainment making it the city's most advanced multiplex.

With this launch, PVR Cinemas consolidated its foothold in Punjab with 63 screens in 12 properties and 275 screens across 62 properties in North.

Centrally located on the Rajpura Highway, the new property has a total seating capacity of 621 audiences and is the first multiplex in the city equipped with plush recliner seats for enhanced comfort and 2K RGB+ Laser projectors that deliver ultra-high resolution, sharp and bright images. In addition, the audis are equipped with advanced Dolby 7.1 immersive audio and Next-Gen 3D technology.

Inspired by the royal palaces from the land of Maharajas, the multiplex is designed in a modern art deco style. While a bright arched arcade forms an entry to the cinema, the counters have shades of blue and gold, reminiscent of the royal past of Patiala.

Speaking on the launch, Mr. Sanjeev Kumar Bijli, Joint Managing Director, PVR Ltd, said, "We are thrilled to open our first property in Patiala as we bring the finest movie-going experience to the people of the city. While we look forward to extending our footprint across the country, we will continue to focus on smaller towns and citiesto bring them at par with the highest global standards of out-of-home entertainment that PVR delivers in bigger cities to cater to a wider audience."

PVR has always aspired to build cinemas that provide the best movie going experience. PVR's presence in Punjab across 8 cities will give a boost to the Punjabi film industry providing more avenues to showcase their creative content to the people of Punjab. As a multiplex player, PVR provides direct and indirect employment creating job opportunities for the aspiring youth in the state.

Expressing views on the expansion of PVR in Punjab, Mr. Pramod Arora, Chief Growth & Strategy Officer, PVR Limited said, "Punjab holds lot of promise for our growth plans in the North. We have expanded our presence in Patiala after our successful run in Ludhiana, Jalandhar, Mohali, Pathankot, Khanna, Amritsar and Zirakpur. There is enough room for the film exhibition's growth in the backdrop of a vibrant Punjabi entertainment industry aided by regional Punjabi content which has gained prominence after the pandemic".

With this opening, PVR strengthens its growth momentum in FY 2022-23 with 858 screens at 174 properties in 75 cities (India and Sri Lanka).

Shares of PVR Limited was last trading in BSE at Rs. 1697.90 as compared to the previous close of Rs. 1729.05. The total number of shares traded during the day was 11952 in over 1671 trades.

The stock hit an intraday high of Rs. 1735.75 and intraday low of 1678.45. The net turnover during the day was Rs. 20329939.00.

Source : Equity Bulls


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