Fun Cinemas plans Rs 500 cr investment
E-City Ventures promoted Fun Cinemas, a leading multiplex player, has committed an investment of Rs 500 crore towards expansion, especially in Tier II and Tier III cities.
By PTI |
MUMBAI: E-City Ventures promoted Fun Cinemas, a leading multiplex player, has committed an investment of Rs 500 crore towards expansion, especially in Tier II and Tier III cities.
The company has grown 176 per cent in just a year from 17 screens to 47 and is now targeting at 300 screens by 2011, a company release said here on Thursday.
E-City Ventures CEO Atul Goel said, "our growth strategy is clearly focused towards Tier II and Tier III cities. The markets in those cities are just waiting to explode."
The company has entered with huge potential into new markets such as Chandigarh, Panipat, Jaipur, Gulbarga, Agra and Lucknow and has scheduled new openings in the near future in cities such as Mumbai, Hyderabad, Indore, Guwahati, Kolkata, Gwalior, Ambala, Kota and Vadodara.
The firm has already signed 150 screens in around 24 cities across the country which will be operational by 2009, the release added.
The company has grown 176 per cent in just a year from 17 screens to 47 and is now targeting at 300 screens by 2011, a company release said here on Thursday.
E-City Ventures CEO Atul Goel said, "our growth strategy is clearly focused towards Tier II and Tier III cities. The markets in those cities are just waiting to explode."
The company has entered with huge potential into new markets such as Chandigarh, Panipat, Jaipur, Gulbarga, Agra and Lucknow and has scheduled new openings in the near future in cities such as Mumbai, Hyderabad, Indore, Guwahati, Kolkata, Gwalior, Ambala, Kota and Vadodara.
The firm has already signed 150 screens in around 24 cities across the country which will be operational by 2009, the release added.
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