Multiplex operator PVR is aiming to double its revenue to around Rs4,000 crore and screen count to 1,000 across the country in next five years.
“Our strategy is to increase screen penetration in India. We are about 570 screens and in next four to five years we would double screen count and cross 1,000 screen,” PVR Chief Financial Officer Nitin Sood told the news agency.
He further added: “Once we get to 1,000 screens, our revenue would be around Rs3,500 crore to Rs4,500 crore.”
In FY 2015-16, PVR had a revenue of Rs1,743.98 crore and this fiscal it would be around Rs2,100 crore, Sood added.
With the increase in the number of screens, he said in the next three years “people watching movies at our theatres will rise to 100 million from 75 million today”.
As the company grows, Sood said it would be a challenge to bring more variety to entertain millions of customers on a daily basis.
“How do we complement more entertainment for the customers and how do we offer more variety under food and beverages (F&B)IJ Can we bring more merchandising and add more advertising revenue streamIJ That would be the two pillars of our strategy,” he added.
As per its strategy, PVR would continue to grow in the existing Tier I and II cities and also go to Tier III and IV regions.