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MUMBAI: Pyramid Saimira Theatre Ltd (PSTL) has
inaugurated its first multiplex in Faridabad.
The 3-screen 522-seat multiplex is the first
of the many multiplexes that PSTL is planning
to inaugurate in the national capital region
(NCR).
Pyramid
is also planning to invest Rs 500 million in
North India. Pyramid Saimira Group MD P S Saminathan
said, "We are happy to foray into the NCR,
which is a pivotal market to us. We plan to
invest Rs 500 million in North India towards
the construction of multiplexes, improvement
of infrastructure and digitisation, amongst
other developmental activities, in the current
fiscal."
"Faridabad,
with a population of close to two million, offers
tremendous potential for companies operating
in the entertainment space. We plan to open
many more multiplexes in the near future in
all the happening areas of the city. We have
just started penetrating the Haryana market
and expect to capture big market share in Haryana
by the end of 2008," added Saminathan.
Prior
to this PSTL had also forayed into the F&B
business with the launch of its first food court
at the SLF Mall at Faridabad in December 2007.
Recently,
Pyramid Saimira acquired 51 per cent in the
Mumbai-based Dimples Cine Advertising and Dimples
Cine Activations. The company also acquired
Texas-based FunAsia through its subsidiary Pyramid
Saimira Entertainment America, Inc., as well
as an existing theatre and radio drive-time
hours in Chicago and radio time in Houston.
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