PVR INOX, the largest and the most premium cinema exhibitor has announced the launch of a new 4-screen multiplex in Armoor in the state of Telangana today. The new cinema at Jeevan Reddy Mall & Multiplex, Vidya Nagar Colony in Nizamabad District will strengthen PVR INOX foothold in Telangana with 106 screens in 19 properties and in South India with 523 screens in 94 properties.
Armoor is one of the fastest growing cities in Telangana and one of the major educational centers in Nizamabad District. The cinema has a seating capacity of 1254 audiences with plush recliners and is equipped with cutting-edge cinematic technologies including 2K projectors, Next-Gen 3D screens and Dolby Atmos Sound.
Commenting on the announcement, Mr. Ajay Bijli, Managing Director, PVR INOX, said, "With a diverse language base and high movie going index, the southern market has always fascinated us in our growth journey. We are thrilled to expand our presence in south as part of the merged PVR and INOX portfolio. The opening of our new cinema in Armoor in Telangana is part of our strategy of taking the modern multiplex experience to new cities and towns across the country. Cinema remains the number one out-ofhome entertainment choice, due to affordability, accessibility, and limited location-based leisure activities among consumers in India".
The property is designed magnificently in contemporary style with stunning artwork walls and plasmas offering a sophisticated and vibrant experience to discerning audiences. In addition, the red in theme auditoriums with cove lights and crystal chandeliers in the foyer space provides a warm and welcoming ambience.
Commenting on the launch, Mr. Sanjeev Kumar Bijli, Executive Director, PVR INOX, said, "PVR always seeks to be a part of the integrated retail development that our country is witnessing and we are continuously looking at partnering with new developers who are opening malls in Tier-2 and Tier-3 cities and our expansion in these cities is aided by this deepening footprint. With improving lifestyles brought about by a vast working population, movie going also needs to become more aspirational. Telangana has a young population, one of the prime demographical segments of movie going audiences. We are hopeful that our cinema will be well received by the patrons."
With this opening, PVR INOX has strengthened its growth momentum and has opened 168 screens across 30 properties in 24 cities in this fiscal.
Shares of PVR Limited was last trading in BSE at Rs. 1516.30 as compared to the previous close of Rs. 1496.00. The total number of shares traded during the day was 14988 in over 1805 trades.
The stock hit an intraday high of Rs. 1522.00 and intraday low of 1489.80. The net turnover during the day was Rs. 22613901.00.