26/11 scars to show in movie business results | business | Hindustan Times
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26/11 scars to show in movie business results

The terrorists hit ticket sales and multiplex companies that suffered a dreadful aftermath of 26/11 attacks in Mumbai last November are set to show a dent in their profit numbers for the third quarter for which results are due this month, reports Saurabh Turakhia.

business Updated: Jan 09, 2009 22:03 IST
Saurabh Turakhia

The terrorists hit ticket sales and multiplex companies that suffered a dreadful aftermath of 26/11 attacks in Mumbai last November are set to show a dent in their profit numbers for the third quarter for which results are due this month.

Listed exhibitor PVR, which produced movies like Jaane tu ya Jaane na and Taare Zameen Par and runs multiplexes across the country can see it coming.

Referring to the quarter as an exceptional one, Ajay Bijli, managing director, PVR Ltd told Hindustan Times: “Security concerns kept people away from visiting public places and the quality of content flow was also less than optimal.”

However, softening rentals as well as more lucrative revenue-sharing deals will see PVR invest Rs 60 to Rs 75 crore in the next one year to add six to seven multiplexes on leased properties in cities such as Bangalore, Chennai, Ahmedabad, Raipur, Jaipur, Vijaywada, Nagpur.

“With real estate prices getting more realistic, projects are becoming viable and also affordable,” said Bijli.

Its production division will dish out four to five movies in a year, with an overall budget of Rs 60 crore. Its next release is Mere Khwabon Mein Jo aaye, which will hit the screens on February 6.