DLF to invest Rs 1,250 cr in multiplex business

DLF to invest Rs 1,250 cr in multiplex business

Author | Source: Business Standard | Friday, Apr 25,2008 8:12 AM

DLF to invest Rs 1,250 cr in multiplex business

DLF, one of the leading real estate players in India, is investing Rs 1,250 crore in expanding its multiplex business by adding around 500 screens in the next four to five years.

Also, the firm plans to set up its megaplex in the upcoming “Mall of India” in Gurgaon. One of the country’s largest malls, the “Mall of India” would come in an area of around 4 million square feet and DLF-promoted DT cinemas intends to install around 12 screens with a total capacity of around 2,500 seats. Though the officials refused to comment on it, but DLF’s entry in the megaplex business is obvious.

Meanwhile, DT cinemas today announced the opening up of their multiplex in DLF Infocity at the IT park in Chandigarh.

Talking to mediapersons, CEO of DT cinemas, Kajal Aijaz, said, with the multiplex offering state-of-the-art Christie cinema projection system, excellent acoustics, wall to wall carpeting, extra legroom with comfortable slide back seat and push back arm rests to the audience, they eye around 66 per cent occupancy rate in the multiplex for the first year.

The multiplex has a capacity of 786 seats with three screens that have been imported from Harkness (UK).

Aijaz said that initially the ticket booking facility would be provided on the internet and mobile phones but eventually DT cinemas plans to sell tickets through retail chains.

With around 120 more malls of DLF coming up across India, DT cinemas plans to be the main entertainment anchor store in around 70 per cent of the malls.

Talking about their expansion plans, Aijaz said that apart from Ludhiana and Jalandhar where multiplexes would be opened in a couple of years, they were also opening multiplexes at Savitri,GK-II, Shalimar Bagh, Vasant Kunj and Saket in Delhi and at Star Mall in Gurgaon this year. Apart from North Indian cities, DT Cinemas also plans to set up multiplexes in Hyderabad, Chennai, Kochi, Bangalore, Mumbai, Pune, Ahmedabad, Goa and Kolkata.

Commenting on the shopping mall that is coming up in the Chandigarh IT park, Aijaz said that the mall has come up in an area of around 190,000 square feet and almost all the space has been leased out.The mall would open within next 10-12 days.

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