Film Entertainment Company PVR Cinemas plans to have an expansion drive not just in the multiplex space but also for PVR Pictures and Blu-O with an investment of Rs 50 crore in the next 18 months.
With the opening of a multiplex of seven screens at Ampa City Walk, the company expects more revenues to generate from southern markets such as Andhra Pradesh, Karnataka, Tamil Nadu and Kerala.
Promod Arora, group president, PVR Ltd said that the company will open more screens in southern states and tier II cities of Tamil Nadu, where exist untapped potential for multiplexes.
With the launching of the Chennai mulitplex, PVR has its total screen count increased to 123 in 17 cities across the country. PVR Cinemas, which expects a 40 per cent jump in its revenues in 2010, is hopeful of mopping up around 60 per cent of it from the South operations.