PVR INOX to Shut Down 70 Underperforming Screens, Eyes Profitable Growth
PVR INOX plans to close 70 non-performing screens in FY25 and monetize non-core real estate assets in prime locations like Mumbai, Pune, and Vadodara.
Pvr InoxMultiplex OperatorFilm ExhibitionReal Estate AssetsCapitallight Growth ModelReal Estate PuneSep 01, 2024
The company is shifting its focus towards the southern region due to its high demand for films and relatively low number of multiplexes. In its latest annual report, PVR INOX stated that it will adopt a capital-light growth model to reduce its capital expenditure on new screen additions by 25-30% in the current fiscal.
As part of this strategy, PVR INOX will partner with developers to jointly invest in new screen capex, transitioning towards a franchise-owned and company-operated model. The company is also exploring the monetization of its owned real estate assets, with the aim of becoming a
Frequently Asked Questions
How many screens will PVR INOX close in FY25?
PVR INOX plans to close 70 underperforming screens in FY25.
How many new screens will PVR INOX add in FY25?
PVR INOX plans to add 120 new screens in FY25.
What is PVR INOX's strategy for growth?
PVR INOX is adopting a capital-light growth model, partnering with developers to jointly invest in new screen capex, and exploring the monetization of its owned real estate assets.
Why is PVR INOX focusing on South India?
PVR INOX is focusing on South India due to the region's high demand for films and relatively low number of multiplexes.
What is PVR INOX's aim in terms of debt?
PVR INOX aims to become a 'net-debt free' company.
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