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Monday, May 10, 2010

DLF to double DT Cinema screens in 12-15 months

AFTER calling off its plans to sell its DT Cinema chain to PVR, DLF group is now focusing on expanding the business. The DLF management plans to double the number of screens of DT Cinema in the next 1215 months.

"The expansion of DT Cinema will be independently funded by DLF group and the company may turn the business into an independent profit centre," Anant Verma, director & business head, DT Cinema, said.

When contacted, Rajiv Talwar, group executive director, DLF, declined to comment.

At present, DT Cinema has a portfolio of 26 operational screens and would be opening three more screens by the yearend.

DLF would continue to open DT Cinema screens across DLF malls. It plans to open screens in upcoming DLF properties like Chanakya cinema and the Savitri complex in Greater Kailash. "DT Cinema would open one screen this year at the Savitri complex and four screens are slated to open in Delhi's Chanakya cinema by next year," confirmed Verma.

DT Cinema is looking to expand in the south, Punjab and Noida in the next two years. "The expansion in south India is important because of the existence of a multi-lingual audience there. We plan to open seven to eight screens each in Bangalore, Hyderabad, Chennai and Cochin. In Punjab, too, we are planning to open five screens each in Jalandhar and Ludhiana. In addition to these, we are opening seven screens in Noida including three gold class ones," said Verma.

A DLF group official on condition of anonymity told said that the investment would be Rs 3-3.5 crore per screen. "Opening seven screens would entail an investment of Rs 20-21 crore," he said.

According to a KPMGFicci report on the entertainment industry, the compounded annual growth rate for the film industry during 2009-13 is pegged at 9 per cent, with the size of the industry moving up to $3.38 billion by 2013 from $2.18 billion in 2008.

The domestic theatre business will continue to be the largest chunk of the pie contributing more than 70 per cent of the film industry business. Domestic theatrical business is expected to increase to $2.4 billion by 2013 from $1.6 billion in 2008.

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