PVR rises on aiming to operate 1,000 screens by end of FY24

PVR is currently trading at Rs. 1672.95, up by 10.15 points or 0.61% from its previous closing of Rs. 1662.80 on the BSE.

pvr gains with its arm joining hand with panorama studios

The scrip opened at Rs. 1663.30 and has touched a high and low of Rs. 1688.35 and Rs. 1663.30 respectively. So far 3986 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 2211.55 on 04-Aug-2022 and a 52 week low of Rs. 1343.10 on 10-Jan-2022.

Last one week high and low of the scrip stood at Rs. 1768.50 and Rs. 1617.00 respectively. The current market cap of the company is Rs. 10320.33 crore.

The promoters holding in the company stood at 16.97%, while Institutions and Non-Institutions held 63.42% and 19.59% respectively.

PVR is aiming to operate 1,000 screens by the end of FY24, by adding 100 more screens in the next 15 months. The company, which achieved the milestone of 900 screens, would invest around Rs 300 crore to add another 100 screens. As part of the expansion, the company is entering into newer cities, especially in the south and east parts of the country, where it has a negligible presence.

PVR is looking for smaller cities, which are unserved and have high potential. In the current quarter, PVR would add 30 screens. As per the company, some of the screens which are currently under fit-outs would also be ready for operation in the March quarter.

PVR is the largest and most premium film exhibition company in India. Since its inception in 1997, the brand has redefined the way entertainment is consumed in the country.

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