PVR Inox plans to add around 100 screens next year, will invest Rs 200 crore, stock jumps

Cinema exhibitor PVR Inox Ltd plans to add around 100 screens next year with an investment of about Rs 200 crore, the company’s executive director Sanjeev Kumar Bijli said on Friday. The company has introduced an artificial intelligence (AI)-powered WhatsApp chatbot, Movie Jockey (MJ), for movie discovery and booking experience. The company plans to add 100 screens every year in the future. “This year so far, we have opened around 70 screens and shut around 45-50 screens. We will add around 40 more screens this year and shut 10-15 screens,” Bijli told PTI at an event.

Plan to close 75 screens this year

Bijali said that the idea is to close about 75 screens this year and add about 120 screens. ‘So we are on the right track.’ When asked about future expansion plans, Bijli said, “Next year we are thinking of adding about 100 screens per year.” When asked about the investment, he said that there will be a capital expenditure of about Rs 200 crore for 100 screens next year. Currently, PVR Inox has 1,744 screens in 355 properties in 111 cities across India.

Rise in stock

PVR Inox Limited’s stock has seen a rise on Friday. On Friday, the stock of PVR Inox Limited rose by 0.46 percent or Rs 6.70 to Rs 1452.80 on the Bombay Stock Exchange. The 52-week high of this stock is Rs 1829 and the 52-week low is Rs 1203.70. The company’s market cap is Rs 14,293.50 crore on BSE.