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Miraj Cinemas targets 100 screens
Miraj Cinemas, which is into multiplex business, is looking to add new 50 screens by March 2017, thereby taking the total count beyond 100 screens across the country. The company opened a 4-screen multiplex in the city on Friday, marking its foray into Telangana.
Inaugurates multiplex in Hyderabad, taking the screen count to 55 in 11 states
Hyderabad: Miraj Cinemas, which is into multiplex business, is looking to add new 50 screens by March 2017, thereby taking the total count beyond 100 screens across the country. The company opened a 4-screen multiplex in the city on Friday, marking its foray into Telangana.
Currently, Miraj Cinemas, part of Rajasthan-based Miraj Group, operates 55 screens across 11 states and 18 cities in India. “We are planning to have over 100 screens by the end of next fiscal and each of the new screens will need around 1.5 crore in investment,” Amit Sharma, Managing Director, Miraj Cinemas, told media here on Friday after inaugurating the company’s maiden multiplex in Dilsukhnagar area of the city.
The multiplex chain which already has presence in Andhra Pradesh is also gearing up to tap opportunities in tier 2 and 3 towns. Places like Nizamabad, Warangal and Khammam in Telangana and some new cities in Andhra Pradesh are on its radar for expansion.
“Our objective is to open nearly 10 per cent of our new screens here as this region offers immense growth opportunities for us,” he said. On the occupancy levels, Sharma said his chain had been doing better than the industry. “Occupancy level in our screens is around 32 per cent which is considerably higher than the industry,” he maintained, putting occupancy levels in old and single-screen theatres around 20 per cent.
Asked about margins in the business, he said it would vary from state to state given the different entertainment and other tax structure in the country. “The biggest challenge in the country is that different states have different entertainment tax structures. In some states, it’s low and in other states, it’s high.
It also depends on consumption of food and beverages at the screens, which are varies from state to state,” he explained. Meanwhile, the multi-screen property of Miraj Cinemas in Hyderabad, Miraj Shalini Shivani, is not only the company’s first multiplex in the Telangana, but also its first theme-based theatre which depicts European street design.“
The theatre is developed in such a manner that people entering its premises feel as if they are roaming around in a European street,” he said. Besides its theme, the multiplex has 1,286 seats across the four screens, Dolby atmos Sound, 2k projectors and recliner seats.