Published On:November 21 2016
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Miraj Cinema to invest ₹60 crore, set up 37 screens.
Rajasthan-based Miraj Cinema is planning to invest ₹55-60 crore to set up 37 screens in both metros and tier II cities by the second quarter of next year to capitalise on the growth in the cinema exhibition and entertainment space.
The company, which started operations in 2012, has 65 screens in 11 States and is the fifth largest multiplex player in terms of number of screens.
“Even though we are a late entrant in the cinema exhibition business, we are growing backed by growth in the sector. We are looking to touch 100 screens by next year. We will be adding 37 new screens,” Amit Sharma, MD, Miraj Cinema told BusinessLine.
He said the company will be funding its expansions largely through internal accruals. Sharma said the company also has interests in film production.
Sharma said that a healthy pipeline of Bollywood, Hollywood and regional films was helping it to grow the business. “We believe that Hollywood films will grow in India as they are dubbed for the local market. There is a healthy pipeline of films,” he added.