PVR Cinemas

PVR Cinemas

Type	Public NSE: PVR BSE: 532689
Industry	Entertainment (movie theatres)
Founded	9 January 1997
Headquarters	Delhi
Number of locations	138
Key people	Ajay bijli Chairman and Managing Director
Products	Movie
Revenue	225.8 Million
Net income	1.3 Billion
Number of employees	999
Website	www.pvrcinemas.com

PVR Cinemas is a film entertainment company in India. The company, which began as a joint venture agreement between Priya Exhibitors Private Limited and Village Roadshow Limited in 1995 with 60:40 ratio, began its commercial operations in June 1997. The company is founded by Mr Ajay bijli, who is the Chairman and Managing Director. Ajay Bijli's brother Sanjeev Kumar Bijli is the Joint Managing Director of PVR Ltd. The company also operates a pro-active CSR wing under PVR Nest.

History

PVR Saket

The company has its origin as Tejas dhawan in South Delhi, which was bought by Ajay Bijli's father in 1978, who also owned a trucking business, Amritsar Transport Co. In 1988, Bijli took over the running of the cinema hall, which was revamped in 1990, and its success led to the founding PVR Cinemas.^[1][2]

In 2003., ICICI Ventures invested Rs 40 crore in PVR when Village Roadshow decided to pull out of the partnership.^[3] In 2012, Kanakia group owned CineMAX cinema chain was bought by Cine Hospitality Private Ltd, a subsidiary of PVR Cinemas for ₹395 crore (US$55 million), making PVR the largest cinema chain in India.^[4][5] In May 2016, DLF group owned DT Cinemas was bought by PVR Cinemas for ₹433 crore (US$60 million).^[6][7] From PVR’s Gold Class and Mainstream Cinemas, Director’s Cut to the latest format- PVR Icon, the company has made exceptional technology like the IMAX® and the ECX (Enhanced Cinema Experience), 4 DX accessible to its audience. Recently PVR Cinemas ventured into a new cinema concept- Superplex in Noida. The cinema have 15 screens with IMAX, 4DX, Gold Class, Playhouse(Specially for Kids) and mainstream auditoriums. PVR Cinemas has invested ₹48 crores in this new venture. PVR's first "Gold Screen" was launched in Indore in 2007.^[8] Recently, PVR Cinemas in association with HP India has launched Asia’s first Virtual Reality (VR) Lounge at PVR ECX, Mall of India, Noida.

In August 2018, PVR Cinemas announced their acquisition of Chennai based Sathyam Cinemas for 850 crores in a cash and stock deal^[9].

Locations

PVR Vikaspuri

PVR has a strong presence with 628 screens in 135 locations across 51 Indian cities.

PVR IMAX

As of June 2017, PVR has signed 10 theatre agreement with IMAX the largest in India out of which 7 are open. One in Mumbai, 3 each in NCR and Bangalore. PVR has plans to open its three IMAX in next two years. All the IMAX properties are equipped with Dual 2K projections, Laser equipped sound system and Stadium seating.

PVR 4DX

PVR's 4DX is the second cinema chain in India to introduce 4DX in the country after Cinepolis. PVR has signed 11 theater agreement with 4DX which is the largest in the country out of which three are open. One each in Mumbai, Pune, NCR and Chandigarh, two in Bangalore, where as three more coming up by end of the year at Hyderabad, Pune and NCR.

PVR's Director's Cut

PVR's Director's Cut, the luxury arm of PVR Cinemas, blends the best in high-end hospitality and entertainment. Spread across ultra plush auditoriums featuring 3D-enabled digital 4K projection technology, world-class Dolby Atmos and Dolby surround sound system, fully reclining armchairs complete with a pillow, a blanket, personal attendant call system and an exciting in-seat food and beverage menu.

References

External links

• PVR Cinemas official website