India's PVR plans 200 more screens
Majority of theaters will be low-pricedNEW DELHI -- Indian multiplex pioneer PVR, the country's No. 2 theatrical chain in number of screens, will invest $60 million (2.5 billion rupees) to add 200 more screens within five years.
PVR, which runs 101 screens in 14 Indian cities -- second only to Mumbai-based Adlabs -- said Monday that 13 of the new screens will be PVR Premiere screens, nine or 10 will be PVR Talkies and the balance, PVR Cinemas.
PVR's three cinema brands include the upscale, urban Premiere screens, which charges $4.70 per ticket; PVR Cinemas, priced at $2.30-$4.70; and PVR Talkies, which target small towns and rural locations with ticket prices below $2.30.
PVR started as a joint venture with Australia's Village Roadshow Group and pioneered multiplex cinemas here in 1997. Village Roadshow exited the joint venture in 2002.
Film production banner PVR Pictures launched in 2007 with "Stars on Earth."