Mexico's Cinepolis eyes Rs 1200 crore turnover from India by 2017

Mexican multiplex chain Cinepolis is aiming to clock Rs 1,200 crore in turnover from Indian operations by 2017 as it expands presence across the country.
 Mexico's Cinepolis eyes Rs 1200 crore turnover from India by 2017

NEW DELHI: Mexican multiplex chain Cinepolis is aiming to clock Rs 1,200 crore in turnover from Indian operations by 2017 as it expands presence across the country.

"Presently, India contributes around 4 per cent of our international revenue (outside of Mexico). It would increase... we expect it to be more than double, nearly to 10 per cent by 2017. Roughly, about Rs 1,200 crore," Cinepolis India Managing Director Javier Sotomayor told PTI.

Headquartered in Morelia, Mexico Cinepolis is world's fourth largest movie theatre circuit, operating more than 3,000 screens in 11 countries.

Sotomayor said the firm has already invested Rs 400 crore in its Indian operations.In India, Cinepolis has selected top 40 cities for setting up screens over the next three years.

On addition of new screens, Sotomayor said: "The target which we would have for organic growth is 400 screens. We would finish this year with 130-plus making us the one of the top players in the industry".

"In next 12 months, we will have presence in all metros, including Kolkata where we would open this year, Chennai and NCR. At the same time, we would be opening (screens) in another tier II and III cities like Guwahati and Muzzafarpur," Sotomayor said.

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