PVR Inox Opens Largest Multiplex in Ahmedabad

PVR, founded in June 1997, has been operating for 27 years and employs over 20,000 people. Priya Village Roadshow Ltd and known for PVR Cinemas, is an Indian multiplex chain based in Delhi. It was formed through the merger of PVR Cinemas and INOX Leisure Multiplex. PVR pioneered the multiplex revolution in India by opening the first multiplex in 1997 at Saket, New Delhi. In 2022, it celebrated 25 years in the industry. As of December 2023, PVR INOX operates 1,747 screens across 359 locations in 114 cities in India and Sri Lanka. The current name reflects the 2023 merger between the two chains. In February 2024, the company launched India’s first standalone IMAX theatre featuring 4K laser projection by refurbishing the historic Eros Cinema in Churchgate, Mumbai, which has a seating capacity of 305, down from its original 1,200.

PVR INOX with 9 giant screen Multiplex:

The new PVR INOX multiplex at Palladium Mall in Thaltej, Ahmedabad, has a capacity of 1,283 guests, enhancing PVR INOX’s presence in Ahmedabad to 36 screens across 6 properties and in Gujarat to 134 screens in 28 cinemas. The company now operates 210 screens in 43 properties in Central India. This multiplex, located in Thaltej—a high-end area well-connected via the Sarkhej-Gandhinagar Highway—features cutting-edge cinematic technology, including immersive 3D, Dolby 7.1 Audio for superior sound, and 4K laser projection for an extraordinary viewing experience. PVR INOX recognizes a significant opportunity in Gujarat, prompting this decision to strengthen their expansion and benefit the business.

Notably, it introduces Gujarat’s first commercial IMAX with laser theatre, designed specifically for IMAX screens. The advanced 4K laser projection system, coupled with proprietary IMAX technologies, offers increased resolution, sharper images, deeper contrasts, and vivid colours. It also incorporates IMAX Surround sound technology, delivering exceptional audio immersion and dynamic range.

PVR INOX Stock movement:

PVR INOX stock is down nearly 2% today, trading at Rs. 1,472.50 per share. We expect a positive movement next week following the recent announcement.

Conclusion: PVR INOX recognizes the significant potential of Gujarat and is strengthening its presence in the state to seize major business opportunities.

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