Multiplex chain Miraj Cinemas has opened its first six-screen multiplex with an investment of Rs 20 crore in TGN Lotus Elite Mall, Bengaluru on Friday. The company has also launched its first independent beanary cafe with various food and beverage options, along with a live kitchen.
Now, the multiplex chain has a total of 172 screens at 57 locations across 40 cities in 14 states. Further, the company plans to add 70-75 screens every year and hopes to expand to 200 plus screens by FY 2023. The multiplex chain will invest Rs 70 crore for next 30 screens in cities including Chennai, Ranchi, Surat and more, the company told ETRetail in a query sent.
Furthermore, Rs. 120 crore, a part of its aggressive investment has been kept for another 50 screens for which fit out will start from January to March 2023 and properties will get in operation from July to October 2023 in cities including Delhi, Bangalore, Hyderabad and more, said the company.
On the launch, Amit Sharma, managing director of Miraj Entertainment said, “Setting up the multiplex in Sunkadakatte, North Bengaluru will attract more footfalls to this area and contribute positively to the city’s growing reputation as a key destination for films and filmmaking."
In addition to its national expansion plans, the multiplex chain said it has kept up with technological advances that benefit moviegoers in tier two and three cities and their counterparts in major metro cities.
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