PVR buys multiplex chain from DLF

PVR Ltd- the leading theatre chain announced to buy DLF group’s national multiplex chain, DT Cinemas. The Chairman and Managing Director, PVR Ajay Bijli, said, “The acquisition of DT Cinemas and long-term strategic partnership with the prestigious DLF Group is part of our expansion strategy and will enhance PVR’s position as a leading multiplex operator in the country.”

The deal will enable PVR to control over 138 screens India-wide. All the DT screens will be rebranded PVR within the next two months. PVR currently runs 26 cinemas with around 108 screens across 14 cities.

DT Cinemas has a portfolio of 29 screens, with 26 currently operational and another three screens expected to start operations in the next six months. These are located in Delhi, Gurgaon and Chandigarh.

All the acquired cinemas are on long-term lease in various mall developments owned and operated by DLF Group. As part of the overall alliance, PVR will be offered exclusive rights to operate as a key anchor multiplex partner in all future mall developments by the DLF Group. DLF has a string of future mall developments planned in key markets in Delhi, Mumbai ,Chennai, Hyderabad, Noida, Jalandhar and Lucknow.