Following the completion of the PVR and Inox merger earlier this month, the merged multiplex chains anticipate an annual synergy of ₹225 crores within the next 12-24 months, resulting in a margin expansion. The combined entity plans to add 200 screens annually to fortify its position in regions with low penetration, including South India. On Wednesday, PVR launched an 11-screen superplex in Lucknow, increasing its total number of screens to 1658 across 356 properties in 113 cities spanning India and Sri Lanka. The merger of PVR and Inox Leisure became effective on February 6.
Ajay Bijli, the MD of the PVR-Inox (merged entity), stated that the synergies will lead to a substantial margin expansion, and there is immense potential for growth in terms of F&B and ad revenues for the combined entity. Bijli mentioned that the focus is on expanding its presence in newer catchment areas, deepening its presence in existing cities, and concentrating on tier-2 and tier-3 cities. The merged entity has already opened 143 screens across 26 properties in 21 cities during this fiscal year.
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