Eylex, an East India-based multiplex chain, is all set to open a new cinema complex in Jamshedpur. The new project will have 3 screens and seating capacity of 840 people. The total investment put in this is approximately Rs 5 crore.
Eylex is planning to open multiplexes in Devgarh, Bokaro, Asansol, Siliguri, Silchur, Sambalpur and Jharsuguda.
"Right now we want to consolidate our business in tier II and III cities only because we have our monopoly in these markets. According to me, metros are saturated and thus we don’t want to get into metros at this point of time," said Akash Jalan, Director, Eylex.
According to Jalan, it takes them 3-4 years to break even.
He further added, "Multiplexes are a very new concept in states like Orissa, Jharkhand and Bihar, that is why we will have early move advantage in all of these areas. And film exhibition industry is also growing up in these states."
Eylex will open all of its chains in malls and will have revenue sharing rental model with the malls.
-Shubhra Saini
