Vatika Group Ties Up with PVR Real estate company Vatika Group tied up with multiplex operator PVR to open and operate 26 multiplex screens in three townships - Vatika India Next, Vatika Infotech City and Vatika City Central in Gurgaon, Jaipur, and Ambala, respectively. The multiplexes, with a total capacity of 5,000 people, will attract an investment of over ?300 crore jointly invested by Vatika and PVR, the company said in a statement. They are expected to be operational by the fourth quarter of 2018-19.
INOX Shares Jump 1.6% Multiplexes and cinema operator INOX Leisure Ltd's shares gained 1.6 per cent on buying by funds for second consecutive session.According to BSE data, Macquarie Asia New Stars Fund had bought 592,392 shares.Goldman Sachs India Fund had bought 1.1 million shares on March 12. Norges Bank on account of Government Pension Fund Global had bought 1.25 million shares on March 12. The stock trades 28.1 times of one-year forward earnings vs 28.7 times of bigger rival PVR, says Thomson Reuters data.
Miraj Expanding its Operations Miraj Cinemas had recently taken over the operations of a 3-screen property at Nalasopara & a 4-screen property at Vasai, increasing their share of the pie. With another property in the making at Goregaon and 2 operational properties in Panvel and Kandivali, Miraj Cinemas looks to create a strong market in Mumbai. Currently operating with 44 screens spread across 17 different locations
PAN India, Miraj Cinemas is on an expansion mode getting into the metros and tier 2 cities along with the tier 3 and tier 4 cities so as to create a new market for the industry as well as earning a few extra bucks for the industry. Miraj Cinemas is enhancing service offerings in line with best of technologies. They have installed premium bucket type seats along with push backs to ensure comfortable seating and apart from these seats, to provide exceptional consumer experience we have installed recliners at certain locations so as to provide comfort to the patrons for watching movies at almost 150 degrees reclined. For providing a sharp and better movie watching experience,the Cinemas has installed silver screens and 2K projectors at their locations which gives us an advantage of screening multi-language contents as well as 3D movies so as to cater each and every patron. The use of digital servers with uncompressed digital sound tracks can handle sound processor of format like 5.1, 7.1, 11.1, 13.3 and Atmos surround sounds. When making film vs. digital cinema comparisons, audiences are immediately struck by the substantial improvement to the clarity of the sound with digital cinema. POPCORNER, the in-house brand of concession serves an extensive menu of flavored popcorns, hot and cold snacks, hot and cold beverages, and a variety of combo meals. Apart from the regular meals, we also have fresh counters that serve multi-cuisine preparations. Along with this the hospitality of trained staff in ushering, box office, concession and housekeeping ensures a memorable experience to patrons. In addition to these, a high standard of hygiene and security within the cinema coupled with the world class comfort provides an unparalleled movie-viewing experience.
Narthaki & Sapna Theatres in Bengaluru on the Verge of Demolition Narthaki and Sapna, two singlescreen theatres on Kempe Gowda (KG) Road, Bengaluru are shutting down. The management of the theatres has put up a notice on the board informing employees about the expiry of lease period of both the theatres. "Your accounts in accordance with Industrial Law will be settled on March 31 by the management. This settlement includes salary for the month of March 2015. Gratuity payable under the Payment Gratuity Act, 1972, bonus payable for the period from 1-04-2014 to 31-3-2015 under the payment of Bonus Act, 1965, encashment of un-availed leave, if any, will be taken into consideration for the purpose of calculation of settlement amount," said a notice issued on behalf of Ashok & Sons. Once known for the glory of several single-screen cinemas, KG Road was dotted with theatres such as Geetha, Himalaya, Alankar, Kalpana, Sagar and Majestic, which were demolished long ago for construction of commercial shopping complexes. Cinema theatres such as Pallavi, Shree, Ajantha, Lakshmi, Adarsha, Maruthi, Blumoon, Galaxy, Plaza, Lido, Naga, Minerva, Sujatha, Swastik, Puttanna in other parts of Bangalore were also demolished to construct multiplex theatres or shopping complexes. SV Rajendra Singh Babu, chairman, Kannada Chalanchitra Academy, emphasized the need for encouraging construction of singlescreen theatres by offering subsidy and other benefits.
Chennai's Iconic Shanthi Theatre to Turn into Entertainment Centre The five-decade-old Shanthi Theatre, a landmark property owned by the family of the late thespian 'Sivaji' Ganesan, is set for a makeover with a modern commercial and entertainment complex to come up in a joint venture.Chennai-based Akshaya Pvt Ltd has entered into a joint venture with the owners to develop the one-acre property, according to T Chitty Babu, Chairman and CEO, Akshaya. Chitty Babu said the project promoted through a special purpose vehicle, Akshaya Leisure Pvt Ltd, will be on the theme of entertainment and leisure. The joint venture was signed recently and the project will start by the end of the year.The property, on the arterial Anna Salai and part of the Central Business District, will emerge a new landmark and rejuvenate the commercial market in the area, he said. G Ramkumar, film producer and son of 'Sivaji' Ganesan, said one of the components of the complex will be a multiplex. Shanthi Theatre, which has screened movies of three generations of stars beginning with Sivaji's movies and his son Prabhu's
and grandson Vikram Prabhu's films, will soon be seen in a new avatar. G Prabhusaid the actor-family has entered into the joint venture as Akshaya has the expertise in real estate development. But the family's business is closely knit with the entertainment industry and the new project will be an 'entertainment centre'.
Service Tax Hike to Deliver AllRound Blow
The service tax hike has also been termed negative for multiplexes like PVR, and direct-to-home companies such as Dish TV.
Inox Brings the Multiplex Experience to Kurnool
The hike in service tax from 12.36 per cent to 14 per cent, as announced in the Budget, is going to ensure that eating out is set to become more expensive. Also, be prepared: going for a movie, ordering flowers, or even getting a haircut is set to be costlier. "By increasing service tax, the Government has directly hiked the price of all things which are under service tax,'" said Umesh Shetty at Saidev Hotel in Andheri, a Mumbai suburb. He added that a decision would be taken to hike the price of certain items on the menu, as the hotelier would end up paying more in taxes. Consumers will have to shell out more even for flight tickets, music concerts, sporting events as well as entry to amusement parks. The tax is also expected to hamper the tourism industry in India, bringing down tourist arrivals by around 50 per cent.
INOX launched its 7th multiplex in Andhra Pradesh in Kurnool. Located at Jyoti Mall, Bellary Road, this is INOX’s 94th multiplex in the country. INOX now has a total of 26 screens in the State.
The $20 billion that the country earned from the 7.5 million tourist arrivals in 2014, is expected to slide to less than $12 billion, according to experts.
Alok Tandon, CEO, INOX Leisure Ltd. said, “We at INOX are looking forward to providing our patrons at Kurnool with the best movie going experience with the launch of this Multiplex at Jyoti Mall. We will continue to offer the INOX hospitality and ensure guests of Kurnool choose INOX to watch their movies”.
However, Jaideep Ghosh, Head of Tourism and Hospitality sector, KPMG, said the tourism, travel and hospitality sector overall would benefit within the
positive economic outlook facilitated by enhanced investment in infrastructure.
In an attempt to give Kurnool the best movie-watching experience, INOX has brought its signature comfortable seats with ample leg space, luxurious carpeting in the auditoriums, a spacious lobby and state-of-the-art technology here, all backed by world-class hospitality! INOX at Jyoti Mall has 3 auditoriums with a total seating capacity of 888 seats. INOX brings to Kurnool ‘Refuel’, its in-house brand of theatre food, which serves an extended menu of flavoured popcorn, hot and cold snacks, beverages and a variety of combo meals.
The movies showcased at INOX Kurnool in the opening week are Badlapur (Hindi), Patas, Bandipotu and Beeruba (Telugu). INOX will offer a mix of Telugu, English and other regional movies, all under one roof.
Shoppers Stop Closes Store at Ramee Mall in Chennai; Lack of Cinema Halls Deemed as One of the Reasons Retail chain Shoppers Stop has closed its store at Ramee Mall in Chennai. Govind Shrikhande, Managing Director of Shoppers Stop Ltd, said the store's performance was "not up to the mark, and hence we closed it." Shoppers Stop occupied 41,000 sq ft spread across three levels at the mall where it was the anchor tenant. "After launching a store, we usually wait for a year or two to start pulling people. But, unfortunately, it did not happen at this store. After we launched this store, the Metro Rail work started and the entire stretch was dug up. There was hardly any footfall into the mall," he said. He also blamed the mall for not having offered any support structure such as cinema halls and sufficient number of eateries to attract customers. It was not even fully occupied, according to Shrikhande. An official at the Mall, while refusing to give out any reason for the anchor tenant's exit, admitted that the drop in footfall to the mall was a reason. Attributing the drop in footfall to Metro Rail work, "which has thrown the traffic in that stretch out of gear", he said the mall has been in talks with a couple of other retailers who were in the pipeline for the anchor space. Shoppers Stop Ltd informed the stock exchange that it has closed its store, along with 'Mothercare' store and one 'MAC' store, which were inside the main store in the shop-inshop format. With the closure of these stores, the company now has 72 "Shoppers Stop", 42 'Mothercare' and 35 'MAC' outlets under its operations, the statement added.
PVR Cinemas Debuts with a 4-Screen Multiplex in Hubli PVR Ltd is celebrating its presence in Hubli, Karnataka. PVR Cinemas further expands its business with the four screens multiplex in the city and stands at a total of 51 screens and 7 properties in the state of Karnataka. Committed to taking the cinema going experience to new heights, PVR felt it imperative to bring the brand to Hubli. Considered as the education hub of India, the twin city (Hubli- Dharwad) is host to over three lakh students and has also marked its presence as an important industrial hub. Sighting the immense propensity of entertainment consumption, PVR has invested in trying to meet the growing demands of this dynamic market. Mr Gautam Dutta, CEO, PVR Ltd, on this occasion said, “With the endeavor of operating the most productive theatres in the country, we are delighted to make our debut in Hubli. We look forward to entertaining a wide spectrum of audiences by offering them more comfort and convenience, greater engagement and loyalty, premium sight and sound and a variety of movies with targeted programming.” The centrally located multiplex, spread across 27,388 sqft, promises to attract major footfalls and has a capacity of 890 seats. With a mission of entertaining movie-goers everywhere and a rich legacy of cinema firsts, PVR is largest chain with an expansive network that spans no fewer than 462 screens across 44 cities in 104 properties pan India. Mr Sanjeev Kumar Bijli, Joint Chairman Managing Director, PVR Ltd added, “As we aspire to expand, PVR taps the tier 2 and tier 3 cities as well and envisions providing the people of Hubli with the best. From a range of content of Indian, International and
Regional movies to a variety of offerings, we look forward to providing patrons with global standards in movie watching while ensuring our customers can identify with the PVR experience. For this location we are thankful to Laxmi Enterprises, our developers.” The cinema in Hubli has a distinct design and is equipped with exceptional 2K digital projections, 7.1 channel sound and is 3D enabled with large screens, comfortable seating and a wide range of F&B.
Rentrak Partners with Cinepolis India for Box-Office Analytics Rentrak has launched its box-office service to report daily theatre-level information for Cinepolis in India. This new agreement will help Rentrak to expand box office measurement services in India. In a statement, Ron Giambra, President of Rentrak's worldwide movie measurement business said, "India is one of the fastest-growing theatrical markets and our measurement is vital to helping serve their clients. We look forward to our partnership with Cinepolis and expanding as they continue to add more screens." Cinepolis India has recently acquired Fun Cinemas and now has 200 screens across 31 cities."India is a very exciting market with tremendous passion for cinema. When this passion can be measured accurately in real time and understood in terms of box-office analytics, it will pave way for greater growth in the industry and better movie products for the country as a whole," Javier Sotomayor, Managing Director, Cinepolis.
â€˘ INDIA PLEXING â€˘
Mukta A2 Cinemas
Launches in Bhopal Mukta A2 Cinemas, a cinema brand by filmmaker Subhash Ghai's Mukta Arts Limited, marks the launch of its 10th property.
One of India's most popular film banners, Mukta Arts Limited needs no introduction. A production company by the well-known filmmaker Subhash Ghai, Mukta Arts has been giving its audiences the best of on-screen entertainment since decades. To take the entertainment quotient one step further, the company created its own brand of multiplex theatres Mukta A2 Cinemas,which is spread across 28 screens in India. Mukta A2 Cinemasfurther branches out to provide cinematic excellence with the launch of its 10th property in the City of Lakes, Bhopal at the popular retailer hotspot - People's Mall. With the primary goal of providingthe best quality services at competitive prices, Mukta A2 Cinemas opened its doorstothe movie lovers of Bhopalrecently. The propertyis spread across 23,000 sqft with4 screensand a seating capacity of 775. The theatre also boasts of comfortable recliner seats at
â€˘ INDIA PLEXING â€˘
affordable prices, which is an exclusive offering to the movie going audience in Bhopal.Mukta A2 Cinemasoffers state-ofthe-art technology with Dolby digital sound complimented by a soothing ambience with comfortable seating and an exciting varietyof F&B options. Commenting on Mukta A2 Cinemas launch in Bhopal, Subhash Ghai, Chairman, Mukta Arts Ltd, said, "My hearty congratulations to our brilliant team of Mukta A2 Cinemason the opening its 10th high-tech multiplex in Bhopal. This year, Mukta Arts has recently celebrated its 37th anniversaryin show business of India and its feels great that Mukta A2 Cinemasis launching its 10th property in the same year." Commenting on the launch- Rahul Puri, Managing Director, Mukta Arts Ltdsaid,"It's with great pleasure that Mukta A2 Cinemasopens its 10th property in the wonderful city of Bhopal.
The people of this terrific city can now enjoy great movies in the comfort of a world-class theatre at extremely competitive prices. The theatre is also in the heart of the city --People's Mall, poised to be on the city's retail hotspots." The tremendous response received from the existing screens in Ahmedabad, Baroda, Gulbarga, Visakhapatnam, Banswara, Sailu, Hyderabad and Sangli, has further strengthened Mukta A2 Cinemas' resolve to provide an enriching movie-watching experience to its audiences across cities in India. The brand is reaching out to movie enthusiasts by means of hoardings, bus branding, television tickers and newspaper advertisements. With its existing properties and robust plans of forthcoming launches in Mumbai, Gurgaon, Dehradun and Aurangabad, Mukta A2 Cinemasis all geared up to entertain the country with the best of movie experiences.
â€˘ INDIA PLEXING â€˘
First in Kolkata to Install Auro 11.1 Arti Cinemas Group installed Auro 11.1 in their Globe Theatres and Barasat Cinemas, both located in Kolkata. The installation was done by long-time Barco Partner R&S Electronics. Both cinemas are the first in Kolkata to be equipped with Barco's Auro 11.1 immersive sound systems, offering their audiences an unprecedented cinematic experience. Arti Cinemas Pvt Ltd is a chain of multiplex operating from Kolkata since 2013. Rapidly expanding with new venues and modernising existing ones, the cinema group is constantly striving to bring the highest quality of entertainment to India's moviegoers. Arti Cinemas aims to transform the experience of movie-lovers into a delightful experience with world-class screens, sound and interiors. Arti Cinemas multiplex is unit of Arti Group of Companies. Arti Group of Companies has diversified businesses from selling of lottery tickets to stockiest and distributor of state government lottery tickets, education, hospitality, manufacturing of biscuit of well-known brands like Britannia and Parle, online digital cinema distribution, medical diagnostics and many more in West Bengal. Arti Cinemas is associated with UFO moviez India limited as regional dealer and business associate to roll out digital cinema in eastern India and installed
digital cinema system in West Bengal, Bihar and Jharkhand. Currently, Arti Cinemas Pvt Ltd is operating at Fortune Plaza, Durgapur, West Bengal (2 screens); Suncity, the Barasat Mall, Kolkata (3 screens) and in Globe Shopping Mall, New market, Kolkata (2 screens). In the pipeline are screens in Bihar, Jharkhand, Orissa, Assam and Gujarat, expected mid May 2015.
Unique Experience "In our years-long relationship with Barco, we were always delighted with the outstanding quality of Barco products. When we decided to do
something new and unique for the region of Kolkata, Barco again showed its added value. With Barco's Auro-3D format, both our Globe Theatres and Barasat Cinemas have taken a big lead on their competitors, offering their audiences an immersive film experience that makes them feel the action on the screen like never before," says Raj Kamal Chourasia, Spokesperson - Entertainment Division - Arti Cinemas Pvt Ltd. In its quest to bring Arti Cinemas to higher levels, the Cinemas has chosen Barco projection systems even in the past. "If the multiplex venture is successful commercially, we will roll out this Barco Auro 3D 11.1 in each and every property of Arti Cinemas. The installation of the AP 24 Auro Processors was done by R&S Electronics, a long-standing Barco partner with more than 20 years of experience and over 1,300 cinema installations to its name. With branch offices in Chennai, Delhi, Hyderabad and Kolkata and associates in most metropolitan areas, R&S is actively driving the rapid growth of the Indian film industry. "Innovative technology in terms of sound, projection, seating and acoustics," is the USP of Arti Cinemas asserts Raj Kamal Chourasia.
â€˘ S P E C I A L F E AT U R E â€˘
An Icon of the Single-Screen Culture
Upholding the old-world cinema charm is Balaji Theatre, one of the three single-screen cinema halls operated by Lakshmi Narayana Trading Company in Bengaluru. The theatre has been recently renovated to enrich the cinematic experience of their loyal audience. There is something inherently romantic about the good-old, singlescreen theatres that dotted cities and towns of India until multiplexes took over. Huge gated entrances, grilled window at the ticket counter, bell rings that announce the beginning and end of the show and the refreshment area, still fondly remembered by many movie buffs,for selling appetising samosasand piping hot chai... That's the kind of simple yet intimate cinema-viewing experience that several generations have grown on. However, the dwindling profitshave forced over 400 single-screen theatres to shut down in Karnataka alone in the last decade. Nonetheless, some have not only managed to withstand the onslaught of multiplxes but have gone one step further by renewing interest in singlescreen culture. Upholding the oldworld cinema charm is Balaji Theatre, one of the three single-screen cinema
halls operated by Lakshmi Narayana Trading Company. The theatrehas been recently renovated to enrich the cinematic experience of the loyal audience.The screening of the re-released Kannada movie, the 1995 Shiva Rajkumar-starrer Om,seems to be showing to a packed, enthusiastic audience.
â€˘ S P E C I A L F E AT U R E â€˘ Historical Background SN Annaiah Reddy, along with his three brothers (SN Muni Reddy, SN Chikkannaiah Reddy and SN Srinivas Reddy), began their first venture in cinema exhibition business with the setting up of Srinivasa Theatre (800 seater) in Bangalore in 1980s. A man who had a relentless passion for 'first-day, firstshow', Annaiaha Reddy was smitten by the magic of moving images so much so that he would take not less than an 8-km walk to the cinema hall to watch the latest release of his favourite actorChiranjeevi. Srinivasa Theatre was born from this passion, reminisces son Rajashekar Reddy. Balaji Theatre (800 seater) emerged in 1990s to cater to the growing demand for multilingual cinema, especially with Bangalore having emerged as an IT hub and with people of different languages making the city their home. Since then, Srinivas Theatre was dedicated for Tamil and Telugu films, whereas Balaji initially screened Hindi and English films. When Hollywood blockbusters like Jurassic Park and Titanicmade waves in India, it was time for a big screen! Established in 1995, Lakshmi theatre (1050 seater), with a screen width of about 60 ft, was now dedicated for Hindi and English films and Balaji began catering exclusively to Kannada audience. Hereafter, there was no looking back. In 1997, the three
cinemas were upgraded with digital surround system and with high-end projectors in mid-2000. In 2009, digital projector was installed in Lakshmi theatre for the screening of the American epic science fiction Avatar in 3D format. They hold the distinction of being one of the first single-screen theatres to install digital projector in South India.
Catching up with Times The recent renovation and refurbishment is a tribute to the Kannada audiences, many of who have remained loyal to Balaji despite the onslaught of multiplxes in the city. The introduction of online booking has set in a new trend in the history of this single-screen theatre. Now 50 per cent of their sales is
online! "We have a separate ticket counter for online bookings, which not many cinema halls do. People book tickets online without any hassle, so when they come to cinema theatre, they shouldn't face any inconvenience. About 45 minutes before the show begins, we issue tickets to those who have booked online. They can come, pick the tickets and go for refreshments or go out for a while and return at show time," informs Rajashekar.
â€˘ S P E C I A L F E AT U R E â€˘ "Over all maintenance, hygiene and quality of cinema-viewing experience," attribute to the USP of Balaji according to Rajashekar. "We don't compromise on the lamps, whichrun beyond 2000 hours. Many multiplxes run lamps for 3000 hours without checking for the quality. This reduces the lighting and audience is unable to appreciate the depth of what they see on screen," he adds. Although there is an increase in ticket prices after renovation, "people didn't feel the pinch and there was a good inflow," he informs, adding further, "We don't hike the tickets arbitrarily. But we are on par with multiplexes. The prices are lower but not the quality."
Challenges & the Way Ahead Voicing the concerns of single-screen owners, Rajashekar points out that "Our power tariffs are charged on commercial basis although we are a part of cinema industry. It should be charged on the basis of industrial consumption.Seconding the concern
of cinema exhibitors world over,he appeals for stringent government regulationto curb film piracy. Elaborating on the immense scope for cinema exhibition in a cosmopolitan Bengaluru, Rajashekar is amazed at the uniqueness of the city "where 8 - 9 language films run in theatres. We do two Malayalam
shows every day with about 75 per cent occupancy," he informs. Utilising their own potential and increasing the footfalls further may become the deciding factors for exploring the multiplex option. "Going the multiplex way may be a matter of the right time and opportunity," confesses Rajashekar.
â€˘ BUSINESS TREND â€˘
Why You Need an
Expert Advice for Your Cinema Hall? As the number of cinema screens in India is expected to increase by 50% in the next two years, there is immense potential to tap the ever-booming Cinema and Entertainment industry. Here comes the role of a consultant in providing complete cinema theatre solutions to the investors... As they say, "India has only two religions - cricket and cinema". The latter is in fact so much of a rage in India that film personalities have literally been deified with temples built in their honour! Such is the obsession with films that the moving images influence our fashion sense, lingo and preference for leisure and entertainment. India produces more than 1000 films annually, which is apparently the highest number of films produced in a single year world over. It has a viewership of more than 3 billion per annum. But these statistics haven't translated into enough screens to cater to the demand of moviegoers. India has only 10 screens per million viewers,whereas the US has 120 screens for every million viewers! This clearly indicates that although the demand for movies and allied infrastructure is high, the supply has been relatively low. Despite significant development in technology, high quality filmviewing experience is far-fetched reality for Tier 2 and Tier 3 cities
unlike the Tier 1 cities. One of the most critical reasons for the lack of superior film-viewing experience is the dearth of effective planning and implementation by investors. Most investors,who only aspire to own multiplexes or cineplexes,end up spending more than what they actually should be. And needless to say, the results are nowhere close to expectations. According to industry estimates, the number of screens will increase by 50% in the next two years paving way for greater revenues to producers, distributors and most importantly, theatre owners. Given this scenario, how does one see the growing demand for quality filmviewing experience being met? Here comes the role of a consultant in providing complete cinema theatre solutions to an investor.
RakhiPuri, Operations and Marketing Head - BrasLm Media Entertainment says, "I feel that customer service is the key to achieve high revenues and if the brand is marketed well with service and brand presence, not only can you get regular patrons but also encash the complete potential of the area. This is a service oriented industry and your revenues will be proportional to your quality of service."
With hands-on experience, technology, planning and implementation expertise in one's kitty, the consultant becomes a onestop solution for the investorsand ensures they have hassle free experience setting up their cinema units. The gamut of services includes anything from architectural and civic works to cinema operation management. Consulting services can also be availed by existing multiplex owners. After all, refurbishment ensures superior technology is made available for cinema exhibition. Besides, the owners can dispense the duty of managing and handling operations of their premises to an expert. "Worldwide technology is growing rapidly but India is far behind. The primary reason is the lack of awareness and the fear of heavy investment. On the other hand, the audience is becoming highly techsavvy and their expectations are on a constant rise. Given this scenario, it is highly recommended to equip your theatre with the latest technology by keeping your eyes on ROI," says Bharat Mishra, Managing Director BrasLm Media Entertainment. BrasLm Media Entertainment is a movie theatre consultant offering a host of solutions including cost benefit analysis, site visits, legal, geographical and demography analysis of locations. It manages architecture, construction, interior design and technical's like screen, audio visual capacities and ticketing. With the Tier 2 and Tier 3 cities expected to grow significantly in the near future,now is the time to tap the potential of the ever-booming Cinema and Entertainment industry. As more and more state governments invite people to invest in Tier 2 and Tier 3 cities, investors are on a look out for experts to start from scratch and take it further to a running model.
â€˘ BUSINESS TREND â€˘
Amongst the Top 100 Indian CFOs Nitin Sood, Chief Financial Officer, PVR Ltd, was recently felicitated amongst the top Indian senior finance professionals for performing exceedingly in the category of 'Mergers and Acquisitions'. The fifth edition of the annual programme witnessed a stringent process of evaluation by a distinguished jury of peers and subject matter experts to finalize the list of 100 CFOs who made it to the esteemed Roll of Honor 2015. The CFO100 Programme annually recognizes the top 100 senior finance professionals in India who have made a difference with their acumen,
attitude and leadership. It brings together 100 CFOs, who are clearly a cut above the others, to honor their achievements for the previous financial year, particularly in areas including cost management, raising capital, green initiatives, risk management, governance and strategy. It is an annual benchmark for rising stars among India's CFOs. With reference to this felicitation, Mr Sood, Chief Financial Officer, PVR Ltd, said, "I am honored to have been awarded by The Annual CFO100. To be felicitated in the League of Excellence is indeed encouraging and gives one a
About Nitin Sood Having joined PVR in 2001, the Chief Financial Officer for PVR Ltd., Nitin Sood oversees multiple verticals of the company Multiplex & Distribution and Retail Entertainment. With an overall management experience of 15 years, he has played a key role in building the organisation from a start-up stage to one of the Premier Entertainment Companies in India. He is closely involved in the overall business and funding strategy for PVR and has been instrumental in
raising capital from Banks, Institutions & Private Equity investors to fund the company's growth plans. A graduate from Delhi University, India and a qualified Chartered Accountant with interest in films and music, Nitin Sood plays an active role in key strategic business decisions, oversees accounting and compliance for various group companies, leading discussions around any new business expansion and mergers and acquisitions opportunities.
tremendous push to perform even better and achieve even more in the future. I would like to thank the jury members and congratulate my peers who have been nominated and recognized for this prestigious Roll of Honour." Under the aegis of Mr Nitin Sood, PVR cracked the Cinemax deal which is till date considered as one of the fastest-paced takeover deals in India's corporate acquisition history. With the deal (in 2013), PVR acquired promoter's stake in rival Cinemax India which was then the number four chain in the movie theatre business, to become the top player in the market. Nitin Sood is the Group Chief Financial Officer for PVR Ltd. and oversees various verticals of the company - Multiplex, Film Production & Distribution and Retail Entertainment. Mr. Sood is a graduate from Delhi University and is a qualified Chartered Accountant. A few other distinguished winners in the category are Sushil AgarwalAditya Birla Nuvo Limited, Rajendra Khetawat- Godrej Properties Limited, Anil Mehta- Larsen And Toubro Limited, Murali Santhana GopalanTata Teleservices Limited, Anil Chaudhary- Steel Authority of India Limited and many more.
Published on Apr 4, 2015
Published on Apr 4, 2015
TheatreWorld is a guide to the cinema exhibition industry and technical design of a movie theatre published by Network208. TheatreWorld is t...