The Company's long-term vision is to excel in the retail entertainment domain to maintain its leadership position in the cinema exhibition business. PVR shall continue to redefine the cinema viewing experience to movie connoisseurs with an aim to provide world-class immersive viewing. PVR will strive to bring new allied retail entertainment concepts to India to provide a holistic entertainment experience to its patrons.
PVR is the largest and the most premium film entertainment Company in India and is listed as the “Most Trusted Brand” in the Category of Entertainment by the “Brand Trust Report, 2013”. The Company was incorporated in April 1995 pursuant to a Joint Venture Agreement between Priya Exhibitors Private Limited and Village Roadshow Limited, Australia. The Company pioneered the multiplex revolution in the country by establishing the first multiplex cinema in 1997 at Saket, New Delhi. The opening of the first multiplex heralded a new era in the Indian cinema viewing experience, which also set a role model for others to follow suit. PVR has set new benchmarks in the cinema exhibition business including establishment of the first largest 11 screen multiplex in the country, Gold Class Cinema, luxury cinema, IMAX theatres and ECX (Enhanced Cinema Experience).
The Company through its wholly owned subsidiary, ‘PVR Pictures Limited’ is involved in distribution of Indian and International films across India and also supports independent filmmakers by releasing their films under the ‘PVR Director’s Rare’ banner. Its other new subsidiary PVR Leisure Limited, a Joint Venture between PVR Ltd and L Capital Eco Limited, Mauritius focuses on rolling out F&B and retail entertainment concepts including Hospitality and Leisure / Gaming. The Company’s existing retail entertainment venture PVR bluO Entertainment Limited, a JV with Major Cineplex Group, Plc of Thailand currently encompasses Bowling Alleys, Karaoke rooms, Gaming Lounges at 5 centres across Gurgaon, Delhi, Pune & Bangalore.
THE GROWTH SAGA
In January 2013 the Company acquired 93.19% of controlling stake in Cinemax India Limited, a Cinema Exhibition Company having 135 Screens spread across 38 locations in India, through its wholly owned subsidiary Cine Hospitality Private Limited to become the undisputed leader in the cinema exhibition business in India. Post aforesaid acquisition PVR together with Cinemax currently operates a cinema circuit consisting of 417 screens spread across 95 cinemas covering 40 cities in India. In FY 2012-13, PVR successfully entertained 55 million esteemed patrons through its cinemas. The PVR-Cinemax brand is poised to entertain over 70 million premium viewers in the year 2013-14.
Today PVR is the dominant leader with 30-35% share of box office collections for Hollywood movies in India & 20-25% share of Bollywood movies. PVR commands a phenomenal 70% of the advertising revenue in the cinema medium space and delivers 360 degree exposure & innovative opportunities to brands, both on-screen and off-screen. The Company is associated with the top 100 brands in the country.
PVR is expected to add 70-80 screens every year and set a new benchmark in the Cinema Industry.
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