Ajay Devgn’s NY Cinemas to invest Rs 90 crore to expand screens in FY20

NY Cinemas LLP, the cinema exhibition company owned by actor Ajay Devgn, is looking to invest between Rs 80-90 crore to build up to 45 screens in FY20. These screens will get installed across markets including tier 1, 2 and 3 cities, with the first one being launched in Ratlam, Madhya Pradesh. 

Rajeev Sharma, CEO, NY Cinemas, said, “There has been a need for good cinema theatres across the country. While there are many options in metros, there is a dearth of good cinema theatres in tier 2 and tier 3 cities. At the same time, we also plan to open some screens in metros.” 

“While the economics will change from market to market, like other players, we will also build a revenue stream around food and beverage. To build food and beverage section, we plan to join forces with local players,” he added. 

The company is eyeing to create theme-based theatres. It is claiming that these theatres will have the old world charm borrowed from the era of single screens, coupled with new age technology and viewing experience offered by multiplex operators.

Apart from North and West India, NY Cinemas is now planning to foray into the South market, including Karnataka, Telangana and Andhra Pradesh.