In its latest annual report, multiplex operator FVR INOX announced plans to shut down 70 underperforming screens in FY25. The company also aims to explore the potential monetisation of non-core real estate assets located in prominent areas like Mumbai, Pune, and Vadodara.
While the company is set to introduce 120 new screens in FY25, it will simultaneously shut down nearly 6,070 non-performing screens to drive profitable growth. Notably, around 40% of the new screens will be added in South India, aligning with the company’s strategic emphasis on this relatively untapped market in its medium to long-term plan.
Furthermore, PVR INOX is revamping its growth strategy by transitioning to a capital-light model, aiming to reduce capital expenditure on new screens by 25 to 30% in the current fiscal year. The company will collaborate with developers to co-invest in new screen infrastructure, pivoting towards a franchise-owned and company-operated business approach. Additionally, it is exploring options to monetise its owned real estate assets as part of its objective to become a debt-free entity in the future.
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