Miraj Cinemas to add 50 screens this year

Miraj Cinemas, a Mumbai-based entertainment firm, is planning to double the screens to 100 by the year-end by investing about Rs. 80 crore. 'We are planning to have 300 screens in our multiplexes by 2018,' Amit Sharma, Managing Director of Miraj Cinemas, has said.

Addressing a press conference recently, he said the firm had 55 screens in 10 States with an occupancy rate of 32 per cent. 'Our occupancy rate is above the industry average of about 28 per cent,' he said.

He was in the city as the firm launched its first themed (European Street) property with four screens with a combined capacity of 1,286 seats. The firm converted an old cinema hall into a multiplex. 'We take an existing property on lease or revenue-sharing agreement with the owner,' he said.

HBL