Leading multiplex operator PVR-INOX plans to close 70 non-performing screens in FY25 and will go for potential monetisation of non-core real estate assets in prime locations such as Mumbai, Pune and Vadodara, according to its latest annual report.
Though the company will add 120 new screens in FY25, it will also close almost 60-70 non-performing screens, as it chases for profitable growth. About 40 percent of new screens addition will come from South India, where it will have a “strategic focus” on this lesser penetrated region as per its medium to long-term strategy.
Moreover, PVR INOX is redefining its growth strategy by transitioning towards a capital-light growth model to reduce its capex on new screens addition by 25-30 percent in the current fiscal. PVR-INOX will partner with developers to jointly invest in new screen capex by shifting towards a franchise-owned and company-operated (FOCO) model, PTI reported. (Business Standard)
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