PVR Cinemas announced on Tuesday its foray into tier II and tier III cities of the country with 'PVR Talkies' and said it would be investing Rs 200 crore (Rs 2 billion) over the next three years towards its expansion.
PVR Talkies has already signed 53 screens across the country and is planning to spread in 13 states with a target list of over 70 cities, PVR Ltd Chairman and Managing Director Ajay Bijli said in New Delhi.
This initiative would be kick-started with pilot projects in Aurangabad and Latur.
The PVR Talkies in Aurangabad would have three screens, with a seating capacity of 1,151 seats and Latur would have three screens with 1,148 seats.
"In the second stage of our mission, we are taking our enhancement to more and more places in the country. With PVR Talkies, the people's cinema has arrived.
It is my fervent hope that PVR Talkies will induce people to come back to the big screen and rediscover the true magic of movies" Bijli added.
The theatres which are digitally ready would have a price range between Rs 40 and Rs 60 and is slated to be operational from last week of September this year, the company said.
Once this technology is in place, these theatres would work on the principle of digitised content that would be distributed to them through satellite or fiber, upload to a digital cinema server, which serves it to a digital projector for screening.
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