Miraj Cinemas plans Rs 200 cr investment to touch 200-screen milestone by 2020
MUMBAI: Cinema exhibitor Miraj Cinemas, which has hit the 100-screen milestone, plans to invest Rs 200 crore to another 100 screens by March 2020 to touch the 200 screens milestone.
Miraj Group Chairman Madan Paliwal said that the company’s aggressive expansion will be fulled by an investment of Rs 200 crore in form of internal accrual and mix of debt and equity. Miraj Cinemas has touched the 100-screen milestone. It is now present in 14 states and 40 locations in the country operating 110 screens.
“It is a happy moment for the whole Miraj family today to become 100 screen multiplex players in the country. From here on we expect Miraj Cinema’s growth will be much faster where we will aim to touch the 200-screen milestone pan India by March 2020. This aggressive expansion will be fulled by an investment of Rs 200 crore by the company in a form of internal accrual and mix of debt and equity,” Paliwal said.
Miraj’s prima facie objective is customer satisfaction while coming up with a new cinema. In keeping with its mission, the multiplex chain ensures the best movie watching experience.
Miraj Entertainment MD Amit Sharma stated, “We are thankful to our valued customers, & partners for supporting and trusting is in our journey so far. India’s multiplex industry that is characterised by lower screen rate ratio and rising demand of movie consumption will give us opportunities for more growth in the coming days. We are committed to ensure the best movie watching experience at an affordable price.”