PVR Acquires DLF's DT Cinemas for 500 cr PVR has agreed to acquire the cinema exhibition business of DLF Utilities, which operates under the DT Cinemas brand.It proposes to buy DT Cinemas on a slump sale basis where the buyer does not assign a specific value to individual assets and liabilities - for 500 crore. Saurabh Chawla, Senior Executive Director, DLF Ltd, said: "The deal is in line with our strategy to focus on our core business and divest noncore businesses."It is also reflective of the value embedded in our core assets and demonstrates our commitment to increase shareholder value. It shall provide the management a more focused approach for enhancing value, especially in our retail mall business." Currently, DT Cinemas operates 29 screens across eight properties in NCR and Chandigarh with plans to add 10 screens in the NCR. This acquisition will increase PVR Cinemas' screen-count to 506 screens across 115 multiplexes in 44 cities. Ajay Bijli, Chairman and Managing Director, PVR, said: "We are committed to grow our film exhibition business both organically and inorganically."
The deal is PVR's second major buyout after Cinemax deal for 395 crore in 2012. Post-acquisition, multiplex operator will have presence in 44 cities with 115 multiplexes and 506 screens, it said in a statement.
INOX Leisure Shares Soar Over 16% as Q1 Net Rises Shares of multiplex operator INOX Leisure zoomed over 16 per cent as the company reported over fourfold increase in standalone net profit for the first quarter ended June 30. The stock advanced by 15.82 per cent to end at 240.50 on BSE. Intra-day, it rose sharply by 18.46 per cent to 246, its 52-week high.
Shardul Amarchand Mangaldas & Co was the legal adviser to PVR, and EY India and Luthra & Luthra were financial and legal advisors, respectively, to DLF.
On the NSE, shares of the company surged 16.19 per cent to 240.65 at close. The company's market value rose by 317.81 crore to 2,319.81 crore.
Shares of multiplex operator PVR Cinemas rallied 5.5 per cent, a day after it acquired real estate major DLF's DT Cinemas for 500 crore.The
INOX Leisure reported over fourfold increase in standalone net profit at 22.56 crore for the first quarter ended June 30, on higher sales. The company had posted a consolidated net profit of 4.58 crore in the same period of previous fiscal, INOX Leisure had said in a filing to BSE.
stock jumped 5.53 per cent to 703.30 on the BSE. On the NSE, the scrip gained 5.14 per cent to 701. PVR Cinemas had closed a deal acquiring DLF's DT Cinemas for 500 crore, which marked yet another consolidation in the movie exhibition space in India.
Bahubali Crosses 500 cr at the box office
Net sales of the company stood at 302.69 crore in the April-June quarter, up 35.32 per cent compared with 223.68 crore during the same period previous fiscal.
Ace Telugu director SS Rajamouli's blockbuster multi-lingual film Bahubali has reportedly raked in 500 crore in the three weeks since its release. Sources in the film unit said the much-acclaimed movie grossed the record collection since it was released on July 10. The Prabhas and Rana Daggubatistarrer hit around 4,000 screens worldwide in Telugu, Tamil, Hindi and Malayalam languages. Also starring Ramya Krishna, Anushka and Tamanna in the lead roles, the film is touted as one of the most expensive films made in the country with a reported budget of about 200 crore. The film, much appreciated for its visual and other special effects, is a period action drama that took nearly three years to complete. However, the film left the narrative incomplete as a second part is expected to be released next year. Presented by ace filmmaker Karan Johar in Hindi, the movie received appreciation from veterans like Amitabh Bachchan and superstars such as Shah Rukh Khan. Bahubali generated unprecedented interest among the audience in the run-up to its release and it managed to sustain it three weeks past its release.
EDS Technology Now in India With the Anglo-American technology company Ying Group making their debut in India, the countrywill have first-of-its-kind cinematic experience with the muchawaited 3D film, Rudhramadevi. James Ashbey, along with Miles Adams, Head of Technology at the Ying Group, has been working on a unique EDS - Enhanced Depth Solutions - technology, which promises a 3D experience without the glasses. The duo and their team have used the Anglo-American technology as a special test for the film Rudhramadevi, a Telugu-TamilMalayalam trilingual, which is produced by Guna Teamworks and is also being dubbed in Hindi. The film is directed by Gunasekhar. Set in the 13th century, Rudhramadevi features Rana Daggubatti, Anushka Shetty, Allu Arjun, Prakash Raj and Baba Sehgal as members of the Kakatiya Dynasty. The film was initially shot entirely in 3D.
a 10.7 per cent fully diluted stake, at 700 per equity share," the company said in a statement. The shares will be subscribed by Plenty Private Equity Fund I Ltd, Plenty CI Fund I Ltd and Multiples Private Equity Fund II LLP. This company is raising fresh funds after it announced plans to acquire DLF's DT Cinemas for 500 crore earlier. The DT Cinemas acquisition will help PVR increase its screen count to 115 multiplexes in 506 screens across 44 cities.
Reliance MediaWorks Completes Sale of Multiplex Business to Carnival Group Anil Ambani-led Reliance MediaWorks Ltd (RMW) said it has completed the sale of its multiplex business to Carnival Cinemas for 700 crore and will use the sale proceeds to bring down Reliance Capital's debt. Reliance Capital is the parent firm of Reliance MediaWorks, which operated cinema chains under the brand 'BIG Cinemas' with over 250 screens across the country.
PVR to Raise 350 crore Film exhibition firm PVR Ltd said that it has signed definitive agreements to raise 350 crore from funds managed and advised by private equity player Multiples Alternate Asset Management. The private equity company will pick up 10.7 per cent stake. "Under the terms of agreement, Multiples through its various funds shall, subject to receipt of necessary statutory approvals, subscribe to 50,00,000 equity shares in PVR Ltd for
"The entire proceeds of the sale of the multiplex business have been duly received by RMW from Carnival Cinemas, and will be used to reduce Reliance Capital's leverage by approximately 700 crore through a combination of transfer of debt of RMW and infusion of cash proceeds."
"We are happy to announce closing of this transaction with Carnival Group, which will reduce our overall leverage by approximately 700 crore. This will lower our debt-equity ratio to a conservative 1.75:1, amongst the lowest in the financial services sector in India," said Reliance Capital Ltd Executive Director Sam Ghosh. In December 2014, Reliance Group had announced the sale of its multiplex business to Carnival Group in the largest ever deal in this space. Ghosh added that the sale of its multiplex business is in line with its objective of focusing on core financial services businesses and reducing overall debt. Reliance MediaWorks said the deal excludes real estate owned by RMW at IMAX Wadala and other properties and it will be separately monetised for an approximate value of 200 crore. The deal has made Carnival the thirdlargest multiplex operator with a nationwide presence and over 300 screens.
Priya Entertainment Ties Up with Reliance Jio for 4G Wi-Fi Network Priya Entertainment Pvt Ltd has tied up with Reliance Jio to install 24 hours Wi-Fi 4G network across some of its properties. The first one will come up at Netaji Subhas Sadan, Baidyabati (some 40-odd km from the city) in August; followed by Priya Cinema & Bioscope Axis Mall in Kolkata. The iconic Priya Cinema (hall) - one of the few standalone cinema halls in the city - will also give more comfort to its patrons by a complete revamp of the lobbies. The project is currently on the design table and should be ready in six months.
Bajrangi Bhaijaan Invited for Busan International Film Festival Here's a new milestone for Bajrangi Bhaijaan. After a stunner performance at the box office, the team of Bajrangi Bhaijaan has yet another reason to cheer. The movie has been selected at the prestigious Busan International Film Festival (BIFF)to be held in South Korea. The festival will be held between 1 to 10 October. The film isalso moving closer to the 300 crore mark at the box office. The BIFF has been focusing on showcasing the films of new Asian directors. Regarded as one of the most significant film festivals in Asia BIFF is a non-competitive festival but it also operates a competitive program. In 1998, BIFF launched Asian Project Market (APM, former Pusan Promotion Plan/PPP) followed by Asian Film Market in 2006. Amar Butala, CEO of Salman Khan Films, excited over the achievement, said, "It's an honour for Salman Khan Films that our first film as producers has been invited for Busan International Film Festival for screening in the Open Cinema section where new films, combining both art and mass popularity, along with internationally acclaimed works, are screened to an audience of 5,000."
Is this the Future of Cinema Viewing? Galalite, one of the leading manufacturers of cinema screens in the world has recently created a lot of buzz across the social media universe. What we believe is that they are coming up with a cinema screen that is soon going to revolutionize the movie viewing experience across the world. If rumors are to be believed, then these new screens are going to bring a whole new world of technology. We still don’t know whether the screens will be white, pearl or silver, or whether they’ll be tailored for laser and other technologically advanced digital content. An expert from Galalite shared with us, that these new screens will make way for the fourth generation of revolutionary technology in cinema screens. They’ll deliver excellent light uniformity and a surface finish like no other. He also mentioned that even though Galalite isn’t the first one to introduce these types of screens in the market, but they are confident that once these screens are launched, they will be the best in cinema screens. Wait till October to find out if Galalite’s latest screen changes the face of cinema viewing experiences for once and for ever.
Legendary Composer MSV Passes Away Legendary composer MS Viswanathan, who scored music for over 1,000 films in of multiple languages, passed away in Tamil Nadu. Affectionately called by the acronym "MSV," Viswanathan was a household name in Tamil Nadu. His death was condoled by the Tamil
film fraternity and political leaders. Expressing grief, Chief Minister Jayalalithaa said he remained a legend in Tamil cinema. Born in Palakkad in Kerala on June 24, 1928, he scored music for about 1,200 films in languages, including Tamil, Malayalam and Kannada, many of them in a brilliant partnership spanning over a decade with his associate TK Ramamurthy. "He brought about several changes in music composition and successfully integrated elements and traditions of folk, rock, jazz, carnatic, western and western classical in film music," film music researcher D Thiagarajan said."There is no genre of music untouched by him," he added.
Bajrangi Bhaijaan Crosses 100 cr in First 3 Days Salman Khan-starrer Bajrangi Bhaijaan crossed 102.60 crore in collections during the opening weekend, Eros International said. It is the first movie to cross the 100 crore-mark in such a short time. The highest single day collection of 38.75 cr was recorded on Sunday. It earned 27.25 crore on Friday and about 36.60 crore on Saturday. Multiplex players believe the movie will continue to see high occupancy levels over the next few days. The movie was released across 4,500 screens at the domestic box office and in over 700 screens in international markets.
Smaaash to Invest 285 cr in Expansion Smaaash Entertainment has embarked on a major expansion plan to increase its presence across nine centres from three now, setting up the country's largest indoor Go-Karting track, and taking the spread up to 5,00,000 sqft, up by the year end from 200,000 sqft now. Known for its sports-centric immersive entertainment and gaming centres, Smaaash plans to invest about 285 crore in expansion, which includes 85 crore in the domestic market during the current fiscal and 200 crore in its foray into the Middle East, according to Shripal Morakhia, Chief Imagination Officer of Smaaash. The first centre initiated by Shripal was after enlisting the support of Sachin Tendulkar, star Indian cricketer and Member of Parliament. Sachin, who serves as a Brand Ambassador of Smaaash, expressed how he was a regular visitor to Smaaash with his son Arjun and select friends for games and some entertainment. Launching the new facility at Inorbit Mall in IT hub, in the presence of Tendulkar, Shripal said the centre would become a hub for gaming enthusiasts with the powerful simulative technology and by maintaining a balance between virtual and real. "We will open the country's largest indoor Go-Karting track in Delhi in October and follow this up with new centres in Noida, Chandigarh and Ludhiana. I believe sky is the limit in terms of what such centres could offer as and when they make entry into new cities," he said. As a founder of SSKI, which founded the online broking services company Sharehkhan, in news for having been bought out by BNP Paribas, he says funding is no problem, good ideas get funded.
PVR Announces Results for the Quarter Ended 30 June 2015 PVR Limited announced its unaudited standalone and consolidated financial results for the quarter ended 30 June, 2015. The consolidated revenues for quarter ended June 30, 2015 was 486.8 crore as compared to 363.4 crore during the corresponding period of last year, up by 34%. Consolidated EBITDA for the quarter was 113.3 crore (EBITDA Margin 23.3%) as against 55.9 crore (EBITDA Margin 15.4%) in the same period last year, up by 103%. Consolidated PAT for the quarter was Rs 58.5 crore as against of 7.5 crore in the same period last year up by 684%. The company has delivered a strong financial and operational performance in the quarter on account of successful performance of films like Tanu Weds Manu, Fast & Furious, Piku, Avengers, ABCD, Jurassic World, Dil Dhadakne Do, Gabbar at the Box Office. The footfalls increased by 25% to 19 mn in the quarter while average ticket prices rose by 4% as against same period last year. Food and beverage revenues showed a stellar growth of 46% over corresponding quarter of previous year, driven by increase in Average Spend per person of 16%. A 27% growth in sponsorship revenues reflected strong continuing positive performance year on year. During the first 4 months, PVR added 10 screens across Bokaro & Vadodara and currently operates a network of 474 screens spread over 106 properties in 43 cities across the country. The company continues its aggressive expansion plans and intends to add approx another 50-55 screens in the remaining part of the year. Commenting on the results and performance, Ajay Bijli, Chairman cum Managing Director, PVR Ltd said "This has been one of the best quarters in PVR's operating history driven by strong box office performance. We see the momentum continuing in
forthcoming quarters on back of strong content pipeline. Our growing circuit of high quality cinemas and our company-wide emphasis on customer service excellence remain critical factors in our ability to generate positive operating results over the long-term. We have maintained the position as the leading multiplex player in India and soon will pass the 500 screens mark in next few months."
Gujarati Film Bey Yaar Completes 50 Weeks
Bey Yaar, an urban Gujarati film, directed by Abhishek Jain, has completed 50 weeks in theatres. The film, which started with mere 62 shows per day in Gujarat and five shows per day in Mumbai, ended up reaching 111 shows per day in Gujarat and 44 shows per day in Mumbai. The film has also made waves in Melbourne, Adelaide, Brisbane, New Zealand, Belgium, Dubai, Muscat, Kenya, Tanzania, San Francisco, New Jersey and Britain where it was shown theatrically. Bey Yaar features Darshan Jariwala, Manoj Joshi, Divyang Thakkar and Pratik Gandhi. “There are a few occasions when a film runs for so long. I am glad that Bey Yaar could sustain the run and all the credit goes to the Gujarati people,” said Jain. “They have loved the film, owned it and have spread the word. They are part of this movement where Gujarati cinema is revisited and attempts are made to revive it,” he added.
• BUSINESS TREND •
PVR Makes India's
Biggest Atmos Deal!
PVR's plans to install Dolby Atmos in 50 of its cinema screens across the country will be one of the largest rollouts by any multiplex chain in India until now. PVR Ltd, the largest multiplex chain in India, plans to install Dolby Atmos in 50 of its cinema screens across the country over the next two years. When completed, this will be one of the largest rollouts of Dolby Atmos screens by any multiplex chain in India until now. PVR's two existing properties equipped with Dolby Atmos technology have garnered tremendous response from patrons. PVR is leaving no stone unturned to ensure this experience is also available in more PVR screens across the country in its endeavour to provide the best cinematic experience to its patrons. "At PVR, we believe in bringing the most revolutionary and state-of-theart technologies to its patrons to deliver the highest-quality movie experience," said Ajay Bijli, Chairman and Managing Director, PVR Ltd.
"Our collaboration with Dolby goes a long way. Dolby is amongst one of the most celebrated brands in the market for premium sound quality, and it perfectly fits with PVR's mission to offer its audience the ultimate in moviegoing experiences. Feeling extremely optimistic about the association, we together as brands will go an extra mile to woo our audience." Dolby Atmos, the award-winning Dolby sound technology, moves audio around the theatre, even overhead, with astonishing clarity, richness, and depth. The lifelike sounds of music, people, and things flow all around the theatre in sync with the action to create a more immersive and moving experience. Dolby Atmos has quickly become the preferred choice for next-generation sound in the cinema, with major studios, directors, and exhibitors
from around the world adopting the solution. "Dolby looks forward to working with PVR to bring the Dolby Atmos experience to many more moviegoers in India," said Bob Borchers, Chief Marketing Officer and Senior Vice President, Dolby Laboratories. "With Dolby Atmos, the audience is no longer just watching a movie; they are experiencing it. We are confident that moviegoers will go back again and again for the extraordinary experience that only Dolby Atmos can deliver." The deal encompasses properties across India and has a huge catchment across geographies vis-àvis North, South, East, and West. PVR plans to install Dolby Atmos in significant properties, including PVR Sangam (Delhi), PVR Market City (Bangalore), Lulu Mall (Kochi), Ambience Mall (Gurgaon), PVR Phoenix (Mumbai), among many more places.
• INDIA PLEXING •
Offering Largest Legroom Cinépolis crosses the 200-screen landmark with the launch of its third state-of-the-art multiplex in Bengaluru. Located in ETA Namma Mall, the theatre offers 8 screens with 3 RealD 3D-enabled screens, digital sound and the largest legroom in the country. Cinépolis, the world's 4th largest and India's 1st international exhibitor, launched its third state-of-the-art multiplex in Bengaluru's ETA Namma Mall. With the unveiling of this theatre, the Mexican multiplex operator crosses the 200-screen landmark in India. With complete digital projection, the multiplex will offer users a visually-
stunning experience that is a hallmark of the Cinépolis brand. Equipped with 3 RealD 3D screens, digital sound and the largest legroom, the exhibitor continues to wow the spectators in India! Speaking on the launch, Javier Sotomayor, Managing Director, Cinépolis India said, "We are committed to expanding in
Bengaluru, one of the fastest growing metros of the country. Apart from the operational properties, we have more than 20 screens planned to go live in the city over the next two years. We are looking for newer malls to expand our footprint and offer the most awe-inspiring cinematic experience to movie-goers in Bengaluru." "We identified ETA Namma Mall as the ideal location for our third property in the Garden City. The mall attracts the ideal blend of cosmopolitan customers who look forward to a more-than-average movie-watching experience which we are in a perfect position to offer. Cinépolis is the fastest growing
• INDIA PLEXING •
cinema brand in the country and will continue to foray into existing and newer territories to meet our plan of operating 400 screens in India by 2017," he added. The breathtaking 3D technology from RealD systems is the world's most widely-deployed 3D technology and offers viewers an enthralling 3D movie-watching
experience. Cinépolis has an exclusive tie-up for the deployment of this technology in India. Cinépolis had recently acquired 100 per cent of the share equity capital in Mumbai-based Fun Cinemas (E-City Ventures), a subsidiary of Essel Group. With the purchase, Cinépolis' screen count in India rose to 193, across
41 multiplexes and 31 cities. After the launch in Bengaluru's ETA Namma Mall, the total number of screens has hit 201. Devang Sampat, Business Head Strategy, Cinépolis India said, "At Cinépolis, our constant endeavour is to deliver unmatched levels of customer service. The technology and experience that
• INDIA PLEXING •
patrons will enjoy at the newlyunveiled cineplex will be in perfect synchrony with our brand proposition. We look forward to the continued patronage of Bengaluru residents for this theatre and for the many more that are underway in this highly lucrative geography." Cinépolis currently has operations in 30 Indian cities viz. Delhi, Mumbai, Bengaluru, Hyderabad, Ahmedabad, Pune, Chandigarh, Lucknow, Surat, Jaipur, Bhopal, Patna, Thane, Vijaywada, Vadodara, Amritsar, Ludhiana, Bhatinda, Ambala, Panipat, Ghaziabad, Mangalore, Hubli, Kota, Gwalior, Coimbatore, Khanna, Dibrugarh, Guwahati, Ghaziabad and Ranchi.
â€˘ INDIA PLEXING â€˘
INOX Extends its
Presence in Pune & Vadodara INOX adds two exclusive Insignia recliner screens with lounge at Bund Garden Road, Pune and the third multiplex at Reliance Mega Mall, Vadodara. INOX, India's second largest multiplex chain, currently operates 96 cinemas with 374 screens in 52 cities, making it a truly Pan India multiplex chain. The chain added two exclusive insignia recliner screens with lounge at Bund Garden Road, Pune and the third multiplex at Reliance Mega Mall, Vadodara.
Bund Garden Road, Pune Watching movies will now be an enriching experience for the people of Pune with INOX adding two exclusive recliner Insignia screens at its flagship Bund Garden Road property. These two state-of-the-art auditoriums will have super luxurious all leather recliners. As the moviegoers enjoy this delightful experience, they will also have the opportunity of savouring a worldclass spread of food offerings through elaborate counters serving various speciality items including pastas, pancakes, waffles and mushroom on toast. There are mini meals to add to the movie-goers' choice. Highly experienced chefs will ensure a top quality and mouthwatering food and beverage experience. This will be topped by a butler service inside the auditorium with button for on call service, on each seat.
There will be a variety of beverages on offer as well. For people to have the complete dining experience, there is an exclusive lounge with sofa seats for guests to unwind before and after a movie.
Speaking of the latest Insignia additions, Alok Tandon, CEO, INOX Leisure Ltd. said, "It is our constant endeavour to provide the best of facilities to movie-goers. The addition to our Bund Garden
â€˘ INDIA PLEXING â€˘ property of the Insignia recliner screens with the added provision of personally catered service and delightful food is a testament to our commitment and dedication to creating the ultimate entertainment experience for everyone in Pune.
Reliance Mega Mall, Vadodara
In keeping with its tradition of offering the best of experiences to movie-goers and adding to its rapidly growing chain of theatres, INOX -- the front runner of the multiplex culture in India -- has further expanded its presence in the city of Vadodara. The city -- which once housed the Father of Indian cinema Dadasaheb Phalke -- will see the opening of INOX's third Multiplex at Reliance Mega Mall on Old Padra Road. This INOX Multiplex (7th in the state of Gujarat) will have three state-ofthe-art screens with a total capacity of 581 comfortable seats with spacious leg room. Alok Tandon - CEO, INOX Leisure Ltd. said, "We at INOX are looking
"Insignia is sure to make watching movie at INOX a memorable experience for all Puneites. The movies showcased in Insignia in the opening week are Hamari Adhuri Kahani, Jurassic World and Dil Dhadakne Do. INOX offers a mix of Hindi, English and regional movies, all under one roof.
â€˘ INDIA PLEXING â€˘
forward to providing our guests in Vadodara with a truly state-of-the-art multiplex. Our 7th installment in the state highlights our commitment and dedication to creating the ultimate entertainment experience for everyone in Vadodara and Gujarat." Luxury is the corner stone of all INOX Multiplexes. Comfortable seats with ample leg space, luxurious carpeting in the auditoriums, a spacious lobby and state-of-the-art technology; all backed by world-class hospitality, make it a never-seen-before movie experience. The Multiplex, like all INOX theatres, shall offer a wide variety of food offering including flavoured popcorn, hot and cold snacks, beverages and a variety of combo meals. The 3rd Multiplex in Vadodara adds to the already existing six in Gujarat and INOX now operates a total of 28 screens in the state. INOX are also present in Bharuch (2) and one each in Anand and Surat.
Published on Aug 14, 2015
Published on Aug 14, 2015
TheatreWorld is a guide to the cinema exhibition industry and technical design of a movie theatre published by Network208. TheatreWorld is t...