Multiplexes to invest Rs500-cr this fiscal

Multiplexes have drawn out big expansion plans this fiscal. This will involve setting up new properties and investing in technological infrastructure like 3D and digitisation of screens.

Nearly 55 new properties housing 200-250 screens is expected to be added this year. Typically, multiplex operators invest Rs1.75- 2 crore on an average per screen which means the total investment is likely to be around Rs500-crore.

Cinemax, which already has 101 screens, will add 40 this fiscal. The company spends Rs70,000-Rs 1 lakh per seat. PVR, with 136 screens across 18 cities, has earmarked Rs100-crore for 60-80 new screens this year. Fame Cinemas will commission up to eight new multiplexes and 24-28 screens.

Inox Leisure, which has 34 multiplexes and 129 screens, will add 30 screens across nine properties. “The company plans to enter markets like Belgaum, Hubli, Kanpur, Navi Mumbai and Jodhpur while strengthening our presence in Vizag, Kolkata and Bangalore.