Newly-merged multiplex chain PVR INOX has drawn up a plan to add up to 175 new screens and retrofit existing ones at an investment of Rs 700 crore during FY24. The retrofitting will involve new technology, formats, ambience and other features.

The new plan comes amid the ongoing rationalisation being carried out under the operator’s loss-making screens.

Seeing smaller towns and cities as attractive destinations, the multiplex chain is making plans to expand to a number of tier-II and -III cities, including locations such as Rourkela, Bhubaneswar, Dharwad, Cuddalore, Jodhpur, Hubli, and Ajmer. Its presence is dominated by Metros and tier-I cities with more than 75 percent of its screens operating in these categories.

PVR and INOX, merged last year to take advantage of their synergies, and currently run 1,689 screens across 361 cinemas.