Published On:October 21 2015
Story Viewed 1420 Times
SRS Cinemas to expand in South, East India; eyes 100 screens.
Multiplex operator SRS Cinemas is embarking on an expansion drive in South and East India as part of its plans to start 100 more screens by the end of next year.
The company said it will invest around Rs 45 crore to Rs 60 crore to set up new properties with a special focus on tier II, II and IV cities in the southern market.
The endeavour to foray into more diversified markets will compliment the company's plans to start 100 more screens by next calendar year, it said.
SRS Cinemas, a part of SRS group, is primarily focussed on tier II and III cities in North region. It has 20 properties with 57 screens in places such as Faridabad, Gurgaon, Ghaziabad, Bhiwadi, Allahabad, Bijnor, Gorakhpur, Patiala, Ludhiana, Shimla, Lucknow, Agra, Hajipur and Saharanpur.
SRS Group President and Chief Strategy Officer Tinku Singh said: 'I think it is now the right for us to foray into other markets. We may also look on states as Gujarat.'
He said there is a big gap between demand and supply and the company's current phase of expansion will be to address it, adding the company plans to have 150 screens by 2017.
Singh said the company would look for organic as well as inorganic growth for expansion.
SRS Cinemas is a part of Rs 6,000-crore SRS group, which has interests in real estate, financial services, health care and retail sector.