Carnival Cinemas, part of the Mumbai-based Carnival Group, plans to invest Rs 400 crore to expand its presence in India.
The company intends to open 300 screens across the country by 2018. Of the total, 40 will come up in Andhra Pradesh. It has already signed 50 screens in 11 districts of Kerala.
Currently, Carnival Cinemas operates three screens at Angamaly in Kerala. On 7 January 2014, it opened a five screen multiplex in Dindigul, nearly Madurai.
Meanwhile, Carnival Cinemas has also signed 20 screens in Tamil Nadu, which will be operational in the next six months, and is gearing up to roll out 17 screens in Karnataka, and 50 screens in Madhya Pradesh in due course.