PVR to pump Rs 250 crore in next two to three years

PVR to pump Rs 250 crore in next two to three yearsPVR, the multiplex major, plans to spend about Rs 250 crore on the set up of more screens nationwide, in next two to three years.
The company intends to pump about Rs 150 crore in the movie exhibition business, and Rs 100 crore on movie production and bowling alleys brand Blu-O-Rhythm & Bowl.

The firm plans to add about 57 screens across its 10 properties, to grow the total number of screens to 165, compared to the current 108, by the end of this fiscal.
Reports suggest that, the company will fund its expansion plans through the capital, it raised earlier from private equity players and through debt and equity dilution.

KRChoksey, a leading research house, has recommended a buy rating on PVR with a target price of Rs 160 in its June 08, 2009 research report.

The scrip closed on Friday at Rs 117, down 5% compared to previous close of Rs 123.

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