Theatre company chain Pyramid Saimira Theatre Ltd (PSTL) has forayed into the Malayalam film industry. As the first step, PSTL plans to lease theatres in all the release stations located at Thiruvanthapuram, Kannur, Tellicherry, Badgara, Payyanur, Manatvady, Kalpetta, Battery, Alleppy, Punalur, Anchal, Varkala and Karunagpally in Kerala.
PSTL plans to initially invest Rs 25 crore in this venture. Pyramid Saimira Productions Limited, the production unit of PSTL, plans to produce over 10 Malayalam films annually. Further, it will also buy another 10 films. The company has received the national distribution rights for the much-awaited movie ‘Pardesi’, featuring Mohanlal, which is slated a release on October 12 this year. PSTL will also distribute ‘Ram Gopal Verma Ki Aag’ that is slated for release on August 31 in Kerala.
V Natarajan, Chairman, PSTL, said, “Malayalam movies are known for their ethnic values and artistic nature which I feel is one of the main reasons for them to frequently figure in the national film awards. Our aim is to provide wholesome family entertainment to all cine-goers. Some of the best known directors and actors in the South Indian film industry have been groomed here and we are sure that we will see many more such brilliant directors and actors finding their footing in Malayalam cinema. Kerala is a very important market for the film industry and we are extremely happy to extend our operations here.”
PS Saminathan, MD, PSTL, said, “PSTL plans to lease around 150 screens in Kerala and will improve its infrastructure to international standards. In its expansion in the state, we will follow all the industry practices and norms established by the trade bodies. Further, PSTL is an excellent employer and will have cordial relationship with the entire labour force of this sector.”
PSTL is currently India’s largest theatre chain company, with over 371 screens under management across South India. The company has more than 2.41 lakh seats per show, with over 44.15 lakh square feet under its operational management. Pyramid is in the process of creating a mega theatre chain and plans to be present in 1,550 locations across India with over 2,000 screens by 2010.