PVR Ltd.'s Growth and Future Prospects![]() ![]() ![]() ![]() |
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Company ProfileThe origins of PVR can be traced to March 1974 when Priya Exhibitors Private Limited (PEPL) was established. The private company operated a single-screen cinema hall called Priya at Vasant Vihar in Delhi.
To end the monopoly of Chanakya, Bijli went in for a renovation of Priya at an investment of Rs. 4 million.
Around this time, on the suggestion of Mike Macclesfield, president of Universal Pictures,9 Bijli discussed the possibility of tying up with Village Roadshow Ltd.10 (VRL), one of the world leaders in the multiplex business, to build multiplexes in India.
In 2001, PVR started two new multiplexes -- PVR Naraina and PVR Vikaspuri -- in West Delhi. In early 2002, VRL decided to divest its investments in 18 countries including India. This was part of its strategy to confine itself to a few select areas. As per the divestment strategy, the company sold its entire shareholding in PVRL to PEPL. In May 2003, PVR opened a seven-screen multiplex in Gurgaon, the biggest one in North India. In May 2004, it started a two-screen multiplex at Faridabad, and in November the same year, it opened one more multiplex there with three screens. PVR opened PVR EDM in Delhi in March 2005 and PVR Spice in Noida in November 2005.
9] Universal Pictures is a subsidiary of US-based Universal Studios, one of the leading film production houses. |
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