Delhi-based multiplex operator Satyam Cineplexes has plans to expand in tier II cities. It has already raised Rs.55-60 crore for the next 30 screens that it will open in the near future. The amount is raised through private equity, internal accruals and debts.
“Recently, we spread our wings outside Delhi with the opening of a multiplex in Indore. We have plans to launch multiplexes in Jodhpur, Aurangabad, Mysore, Rohtak and Jaipur. For tier II and III cities, our tie-ups are mostly with malls,” said Deven Chachra, MD, Satyam Cineplexes.
Satyam’s five-screen multiplex in Indore came up at Century 21 Mall in December last year.
The per screen cost in tier II cities would be Rs.1.5-1.75 crore, Chachra said, while the average multiplex area will be 35,000 sq.ft.
On the retail rental model with malls in tier II cities, Chachra said, “Satyam Cineplexes will have minimum guarantee as well as revenue sharing retail rental model with them.”
Satyam Cineplexes is a fully-owned multiplex chain of Superior Films Pvt Ltd.
– Shubhra Saini
