PVR Cinemas comes next door with Neighbourhood Cinema

Company News

New Delhi, August 09, 2007

PVR Cinemas announced its plans to come ‘next door’ with the launch of the Neighborhood Cinema concept in Delhi/India. Located in the midst of the Prashant Vihar residential complex, the opening of PVR Prashant Vihar marks the beginning of a new thought process being explored by PVR Cinemas - The Cinema reaching out to its patrons, rather than the patrons having to reach out to Cinema.

Sharing the thought process behind this pioneering concept of Neighborhood Cinema, Mr. Pramod Arora, CEO & President, PVR Ltd. said, “There is an increasing significance of Neighborhood Markets which are emerging as key commercial hubs within a small geography in Major Metros. While rising real estate prices are driving the development of such hubs, on the other hand long distances, traffic congestion and parking issues are propelling consumers to these neighborhood markets. The time was ripe for us, being pioneers in the industry to evaluate this model and bring Cinemas closer to our patrons.”

Accessibility seemed to be the key word that came out as a result of a comprehensive research conducted by PVR Cinemas; which highlighted that patrons were increasingly seeking high quality cinema options, which were also easily accessible. And given the way organized retail is developing in the country, it seems evident that Neighborhood Cinema too will gain in relevance in the times to come.

“Time is of essence,” says Mr. Arora “and ultimately with a Cinema offering, we’re fighting for a customers time. An unmatchable cinema experience with the exclusion of an hour of commute makes a powerful value proposition.”

Sharing PVR Cinemas plans for Neighborhood Cinema, Mr. Pramod Arora said ”PVR Cinemas plans to take the Neighborhood Cinema concept further and is keenly looking at the response of the audiences towards PVR Prashant Vihar. Subsequently, we plan to target key neighborhoods in all the leading cities and towns across the country.”

This comes close on the heels of PVR Cinemas entry into the Punjab market where it opened a 4 - screen multiplex in Ludhiana. These two takes the company’s sliver screens count to 89 in 23 locations in 14 cities.

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