PVR, incorporated in 1995, is engaged in business of film exhibition. The company operates other business such as providing content, film distribution and entertainment park through its subsidiaries.
The company came into existence with a joint venture between Priya Exhibitors and Village Roadshow, an Australian based company that is one the largest exhibition companies in the world with more than 1,000 screens under operation. This 60:40 joint venture led to formation of Priya Village Roadshow (PVR). The company was first to introduce the concept of multiplexes in India. With the help of Village Roadshow’s international experience, the company launched of PVR Anupam in Saket, India’s first multiplex in the year 1997.
From then PVR initiated many path breaking innovations in the industry from launching in Bangalore the largest 11 screen multiplex in the country in 2004 to introducing Gold Class Cinema. In November 2002, Village Roadshow divested its investment and sold the entire stakes to Priya Exhibitors. The name was changed to PVR.
Currently, the company has achieved the status of being India’s largest cinema chain. Its geographically diverse cinema circuit in India consists of 42 Cinemas with 184 screens spread over 24 different cities covering major markets across the length and breadth of the country: Delhi, Faridabad, Gurgaon, Ludhiana, Jalandhar, Ghaziabad, Mumbai, Kolkata, Bangalore, Hyderabad, Chennai, Lucknow, Indore, Aurangabad, Baroda, Allahabad, Ahmedabad, Udaipur, Chandigarh, Surat, Latur, Nanded, Ujjain, Nagpur and Raipur. The company also conducts CSR programmes through ‘PVR Nest’ that is engaged in upliftment of street children through various initiatives.
Distribution- Besides cinema exhibition, the company is also involved in film distribution through its subsidiary PVR Pictures. Since 2001 the company has distributed about 150 English movies and 75 Hindi and other regional language movies. The company recently completed a movie “Shanghai” directed by Dibakar Banerjee starring Abhay Deol and Emran Hashmi.
Retail- CR Retail Malls (India) a subsidiary of the company is engaged in business of retailing and creating an entertainment destination in Mumbai. CR Retail Malls (India) Limited operates the 7 screen Multiplex at “The Phoenix Mills Compound” at Lower Parel, a prime retail and entertainment destination in Mumbai. On 5th May, 2011, PVR Ltd. entered into an arrangement with JM Financial group of Companies for sale of equity shares of CRR. Under the terms of sale of entire equity share of CRR, PVR Ltd. has realized Rs. 100 Crores. PVR has also entered into a lease agreement with CRR to continue to operate the multiplex property on a long term lease basis.
Entertainment park- The company has entered in joint venture with Major Cineplex Group, Thailand’s largest cinema chain operator to form PVR bluO Entertainment (PBEL). This 51:49 joint venture will set up and operate Bowling Alleys, Karaoke Centers and Ice Skating Rinks across India. Presently the company operates India’s largest bowling alley center in Ambience Mall, Gurgaon. The center has been able to establish itself as a premier leisure and entertainment destination for consumers in NCR.
The company also owns another subsidiary namely Sunrise Infotainment that operates six screens Multiplex Project at Oberoi Mall.
The Board of Directors of the company in the meeting held on 27th May, 2011 approved buy back of Company’s own Equity Shares from the Stock Exchanges for a sum not exceeding Rs. 26.21 Crores i.e., 10% of the paid up Equity Share Capital and Free Reserves at a price not exceeding Rs. 140 each equity share of face value of Rs. 10 each in accordance with the applicable provisions under the securities and exchange board of India Buy Back of Securities regulations 1998.
In August 2012, L Capital Eco Ltd, the PE arm of Louis Vuitton Moët Hennessy (LVMH), the world’s biggest luxury goods group and a subsidiary of the $ 640-million global private equity (PE) firm L Capital Asia, agreed to invest Rs 108 crore in lieu of equity stake in PVR Ltd.
2010PVR Opens another Multiplex in Raipur, ChhattisgarhPVR Opens another Multiplex at Allahabad, U.P.PVR Opens two Multiplexes at Ghaziabad, U.P.PVR mergers with Leisure World Private Limited (LWPL)
2011Imax and PVR Cinemas sign Four Theatre Deal in IndiaPVR Opens Multiplex at The Celebration Mall situated at UdaipurOpening of another Multiplex at "The RahulRaj Mall" situated at SuratOpening of another Multiplex at "Ambiance Mall", Vasant Kunj, New Delhi
2012Opening of Multiplex at "Avani Riverside Mall", HowrahOpening of Multiplex at "Nanded"PVR opens multiplex in Bilaspur, ChattisgarhPVR opens 8 screens multiplex in MumbaiOpening of Multiplex at "ORION, Bangalore"