PVR Inox plans to shut down about 70 low-performing screens next year in Bombay, Pune and Baroda, according to its annual report. Although the largest multiplex chain of the country is scheduled to add 120 new screens in 2025, it will close almost 60% of that number.
Around 40% of the new screens will come up in South India.
PVR Inox is redefining its growth strategy by transitioning towards a capital-light growth model to reduce its capital expenditure on new screens by 25-30% in the current fiscal year. The chain will partner with developers to jointly invest in new screen capex by shifting towards a franchise-owned and company-operated (FOCO) model. It is also considering monetisation of owned real estate assets as it aims to become a net-debt-free company in the foreseeable future.