PVR INOX: Difference between revisions
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'''PVR Ltd''' (formerly Priya Village Roadshow Ltd), [[trade name|doing business as]] '''PVR Cinemas''',<ref>{{Cite web| url=https://www.business-standard.com/company/pvr-14622/information/company-history |title=PVR Company History - Business Standard News {{!}} Page 1 |access-date=1 September 2021 |work=[[Business Standard]] |df=dmy-all }}</ref> is an Indian [[movie theater]] chain |
'''PVR Ltd''' (formerly Priya Village Roadshow Ltd), [[trade name|doing business as]] '''PVR Cinemas''',<ref>{{Cite web| url=https://www.business-standard.com/company/pvr-14622/information/company-history |title=PVR Company History - Business Standard News {{!}} Page 1 |access-date=1 September 2021 |work=[[Business Standard]] |df=dmy-all }}</ref> is an Indian [[Multiplex (movie theater)|multiplex]] chain based in [[Gurgaon]]. PVR pioneered the multiplex revolution in India by establishing the first [[multiplex cinema]] in 1997 at [[Saket (Delhi)|Saket]], [[New Delhi]]. |
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==History== |
==History== |
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[[File:Pvrcinemas logo.jpg|thumb|200px|Logo used from 2001 until 2019|right]] |
[[File:Pvrcinemas logo.jpg|thumb|200px|Logo used from 2001 until 2019|right]] |
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PVR Cinemas has its origin as Priya Cinema in [[Vasant Vihar]] [[Delhi]], the Cinema was named after Priya Jaisinghani and was bought by Ajay Bijli's father in 1978, who also owned a trucking business, Amritsar Transport Co. In 1988, Bijli took over the running of the cinema hall, which was revamped in 1990, and its success led to the founding PVR Cinemas.<ref>{{cite web | title = Questions & Answers: Ajay Bijli|work=[[The Wall Street Journal]]| url = https://online.wsj.com/news/articles/SB125904151522361983 |date=24 November 2009| access-date = 2014-09-24 }}</ref><ref>{{cite web | title = How Ajay Bijli, the man behind PVR, managed to crack the movie theatre business in India | work = [[The Economic Times]] | url = http://articles.economictimes.indiatimes.com/2012-08-24/news/33366602_1_ajay-bijli-pvr-cinema | first = Peerzada | last = Abrar | date = 24 August 2012 | access-date = 2014-09-24 | archive-url = https://web.archive.org/web/20150614022407/http://articles.economictimes.indiatimes.com/2012-08-24/news/33366602_1_ajay-bijli-pvr-cinema | archive-date = 14 June 2015 | url-status = dead| df = dmy-all }}</ref> |
PVR Cinemas has its origin as Priya Cinema in [[Vasant Vihar]], [[Delhi]], the Cinema was named after Priya Jaisinghani and was bought by Ajay Bijli's father in 1978, who also owned a trucking business, Amritsar Transport Co. In 1988, Bijli took over the running of the cinema hall, which was revamped in 1990, and its success led to the founding PVR Cinemas.<ref>{{cite web | title = Questions & Answers: Ajay Bijli|work=[[The Wall Street Journal]]| url = https://online.wsj.com/news/articles/SB125904151522361983 |date=24 November 2009| access-date = 2014-09-24 }}</ref><ref>{{cite web | title = How Ajay Bijli, the man behind PVR, managed to crack the movie theatre business in India | work = [[The Economic Times]] | url = http://articles.economictimes.indiatimes.com/2012-08-24/news/33366602_1_ajay-bijli-pvr-cinema | first = Peerzada | last = Abrar | date = 24 August 2012 | access-date = 2014-09-24 | archive-url = https://web.archive.org/web/20150614022407/http://articles.economictimes.indiatimes.com/2012-08-24/news/33366602_1_ajay-bijli-pvr-cinema | archive-date = 14 June 2015 | url-status = dead| df = dmy-all }}</ref> |
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The company started as a joint venture agreement between Priya Exhibitors Private Limited and [[Village Roadshow]] Limited in 1995 with 60:40 ratio. It began its commercial operations in June 1997. The company is founded by [[Ajay Bijli]] who is the chairman and managing director of PVR Cinemas. Ajay Bijli's brother Sanjeev Kumar Bijli is the Joint Managing Director of PVR Ltd. The company also operates a pro-active CSR wing under PVR. The first PVR Gold Screen was introduced in Forum Mall, [[Bengaluru]]. |
The company started as a joint venture agreement between Priya Exhibitors Private Limited and [[Village Roadshow]] Limited in 1995 with 60:40 ratio. It began its commercial operations in June 1997. The company is founded by [[Ajay Bijli]] who is the chairman and managing director of PVR Cinemas. Ajay Bijli's brother Sanjeev Kumar Bijli is the Joint Managing Director of PVR Ltd. The company also operates a pro-active CSR wing under PVR. The first PVR Gold Screen was introduced in Forum Mall, [[Bengaluru]]. |
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In August 2018, PVR Cinemas announced their acquisition of [[Chennai]]-based [[SPI Cinemas]] for ₹850 crore in a cash and stock deal.<ref>{{Cite web |url=https://timesofindia.indiatimes.com/city/chennai/pvr-buys-sathyam-cinemas-in-rs-850-crore-cash-stock-deal/articleshow/65380407.cms |title=PVR buys Sathyam Cinemas in Rs 850 crore cash-&-stock deal |date=13 August 2018 |access-date=16 August 2018 |archive-url=https://web.archive.org/web/20180816114550/https://timesofindia.indiatimes.com/city/chennai/pvr-buys-sathyam-cinemas-in-rs-850-crore-cash-stock-deal/articleshow/65380407.cms |archive-date=16 August 2018 |url-status=live |work=[[The Times of India]] |df=dmy-all }}</ref> |
In August 2018, PVR Cinemas announced their acquisition of [[Chennai]]-based [[SPI Cinemas]] for ₹850 crore in a cash and stock deal.<ref>{{Cite web |url=https://timesofindia.indiatimes.com/city/chennai/pvr-buys-sathyam-cinemas-in-rs-850-crore-cash-stock-deal/articleshow/65380407.cms |title=PVR buys Sathyam Cinemas in Rs 850 crore cash-&-stock deal |date=13 August 2018 |access-date=16 August 2018 |archive-url=https://web.archive.org/web/20180816114550/https://timesofindia.indiatimes.com/city/chennai/pvr-buys-sathyam-cinemas-in-rs-850-crore-cash-stock-deal/articleshow/65380407.cms |archive-date=16 August 2018 |url-status=live |work=[[The Times of India]] |df=dmy-all }}</ref> |
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In August 2019, PVR Cinemas crossed |
In August 2019, PVR Cinemas crossed the 800 screens milestone in India.<ref>{{Cite web|url=https://brandequity.economictimes.indiatimes.com/news/marketing/pvr-announces-crossing-of-800-screen-count-in-india/70878210|title=PVR announces crossing of 800 screen count in India|work=ETBrandEquity|publisher=[[The Economic Times]]|language=en|date=2019-08-28|access-date=2020-04-19}}</ref> |
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On 27 March 2022, PVR announced it would be merging with [[INOX Leisure]], the second largest cinema chain in India.<ref>[https://www.reuters.com/world/india/indias-largest-multiplex-operators-merge-creating-cinema-giant-2022-03-27 reuters.com]</ref> |
On 27 March 2022, PVR announced it would be merging with [[INOX Leisure]], the second largest cinema chain in India.<ref>[https://www.reuters.com/world/india/indias-largest-multiplex-operators-merge-creating-cinema-giant-2022-03-27 reuters.com]</ref> |
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Revision as of 14:12, 16 November 2022
| File:PVR Cinemas logo 2019.png | |
| PVR Cinemas | |
| Formerly | Priya Village Roadshow Ltd. (1997-2002) |
| Company type | Public |
| ISIN | INE191H01014 |
| Industry | Entertainment (Movie Theatres) |
| Founded | June 1997 |
| Founder | Ajay Bijli |
| Headquarters | Gurgaon, Haryana, India |
Number of locations | 179 locations and 846 screens[1] |
Area served | India and Sri Lanka |
Key people |
|
| Revenue |  ₹31,187 million (US$370 million) |
| ₹1.83 billion (US$22 million) | |
Number of employees | 5,000+ |
| Subsidiaries | |
| Website | www.pvrcinemas.com |
PVR Ltd (formerly Priya Village Roadshow Ltd), doing business as PVR Cinemas,[2] is an Indian multiplex chain based in Gurgaon. PVR pioneered the multiplex revolution in India by establishing the first multiplex cinema in 1997 at Saket, New Delhi.
History
PVR Cinemas has its origin as Priya Cinema in Vasant Vihar, Delhi, the Cinema was named after Priya Jaisinghani and was bought by Ajay Bijli's father in 1978, who also owned a trucking business, Amritsar Transport Co. In 1988, Bijli took over the running of the cinema hall, which was revamped in 1990, and its success led to the founding PVR Cinemas.[3][4]
The company started as a joint venture agreement between Priya Exhibitors Private Limited and Village Roadshow Limited in 1995 with 60:40 ratio. It began its commercial operations in June 1997. The company is founded by Ajay Bijli who is the chairman and managing director of PVR Cinemas. Ajay Bijli's brother Sanjeev Kumar Bijli is the Joint Managing Director of PVR Ltd. The company also operates a pro-active CSR wing under PVR. The first PVR Gold Screen was introduced in Forum Mall, Bengaluru.
Mergers and acquisitions
In 2003, ICICI Ventures invested ₹40 crore in PVR when Village Roadshow decided to pull out of the partnership.[5] In 2012, Kanakia group owned CineMAX cinema chain was bought by Cine Hospitality Private Ltd, a subsidiary of PVR Cinemas for ₹395 crore (US$47 million), making PVR the largest cinema chain in India.[6][7] In May 2016, DLF group owned DT Cinemas was bought by PVR Cinemas for ₹500 crore (US$60 million).[8][9]
In August 2018, PVR Cinemas announced their acquisition of Chennai-based SPI Cinemas for ₹850 crore in a cash and stock deal.[10]
In August 2019, PVR Cinemas crossed the 800 screens milestone in India.[11]
On 27 March 2022, PVR announced it would be merging with INOX Leisure, the second largest cinema chain in India.[12]
Collaborations
In October 2021, PVR announced their collaboration with the film RRR as part of the film's promotion. Accordingly, PVR would rebrand itself as PVRRR across the multiplex chain's 170+ properties in over 70 cities for a few months following the film's release on 25 March 2022.[13]
In June 2022, PVR announced a collaboration with French high-end theatre company, Ice Theatres, part of CGR Theatres, to open new premium theatres in India.[14]
Formats
PVR Gold Screen
PVR's first "Gold Screen" was launched in Indore in 2007.[15]
PVR Superplex
In 2014, PVR Cinemas introduced Superplex format in Noida. The cinema has 15 screens with IMAX, 4DX, Gold Class, a playhouse and mainstream auditoriums. PVR Cinemas has invested ₹48 crores in this new venture. PVR also joined hands with friends group and business venture was called FRIENDS CINEMA [16]
PVR Playhouse
PVR Playhouse includes a special 49 seater movie auditorium showcasing children's movies/animated content. Along with Customized 3D glasses, it offers bean bags and rubberised seats kids and parents.[17] This format is available only in Bengaluru, Chennai, Delhi, Mumbai, Indore and Hyderabad.
PVR 4DX
In 2016, PVR's 4DX became the second movie theater chain in India to introduce 4DX in the country after Cinépolis.[18]
Gallery
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PVR Saket, New Delhi (September 2007)
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PVR Vikas Puri, New Delhi (November 2007)
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PVR Phoenix Marketcity, Mumbai (October 2010)
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PVR Acropolis, Ahmedabad (January 2012)
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PVR Latur (October 2009)
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PVR Magneto Mall, Raipur (April 2017)
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PVR Vega City Mall, Bengaluru (July 2018)
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PVR Nucleus Mall, Ranchi (May 2022)
References
- ^ "About Us". www.pvrcinemas.com. Retrieved 26 October 2019.
- ^ "PVR Company History - Business Standard News | Page 1". Business Standard. Retrieved 1 September 2021.
- ^ "Questions & Answers: Ajay Bijli". The Wall Street Journal. 24 November 2009. Retrieved 24 September 2014.
- ^ Abrar, Peerzada (24 August 2012). "How Ajay Bijli, the man behind PVR, managed to crack the movie theatre business in India". The Economic Times. Archived from the original on 14 June 2015. Retrieved 24 September 2014.
- ^ Sinha, Suveen K. (20 October 2011). "Lunch with BS: Ajay Bijli". Business Standard. Archived from the original on 20 October 2011. Retrieved 29 November 2011.
- ^ "PVR bought Cinemax for Rs 395 cr, becoming country's largest multiplex". Firstpost. 29 November 2012. Archived from the original on 2 December 2012. Retrieved 2 December 2012.
- ^ "PVR Acquires 69 percent Stake in Cinemax for 395 Crores". Biharprabha News. 30 November 2012. Archived from the original on 25 July 2015. Retrieved 25 July 2015.
- ^ "PVR acquires DLF's DT Cinemas for Rs 500 crore". The Times of India. 9 June 2015. Archived from the original on 1 July 2016. Retrieved 1 July 2016.
{{cite web}}:|archive-date=/|archive-url=timestamp mismatch; 17 September 2016 suggested (help) - ^ Malvania, Urvi (11 February 2015). "Coming soon: Multiplex boom across India". Business Standard. Archived from the original on 25 July 2015. Retrieved 25 July 2015.
- ^ "PVR buys Sathyam Cinemas in Rs 850 crore cash-&-stock deal". The Times of India. 13 August 2018. Archived from the original on 16 August 2018. Retrieved 16 August 2018.
- ^ "PVR announces crossing of 800 screen count in India". ETBrandEquity. The Economic Times. 28 August 2019. Retrieved 19 April 2020.
- ^ reuters.com
- ^ "PVRRR: Makers of RRR tie up with PVR Cinemas to promote film in unique way". The News Minute. 30 October 2021.
{{cite web}}: CS1 maint: url-status (link) - ^ Jha, Lata (24 June 2022). "PVR ties up with French company for high-end cinema properties". mint. Retrieved 25 June 2022.
- ^ Raval, Anjli (21 July 2010). "India's thirst for gold hits the cinema". Financial Times. Archived from the original on 23 May 2017. Retrieved 8 November 2016.
- ^ Ambwani, Meenakshi Verma. "PVR Superplex, it's different". @businessline. Retrieved 26 December 2021.
- ^ "PVR Playhouse puts children in the picture". The New Indian Express. Retrieved 26 December 2021.
- ^ Laghate, Gaurav. "PVR to enhance cine experience with 4DX screens". The Economic Times. Retrieved 26 December 2021.
