Brands
Panvel Mumbai to get its first PVR multiplex
Mumbai: In proximity to Mumbai, the heart of the bollywood film industry, Panvel gets its first PVR multiplex. Panvel is an important city of Raigad district (Maharashtra) and is highly populated due to its closeness to Mumbai. The diverse population of the city has created a customer base which is expanding at an exponential rate. However, the market is clearly untapped when one talks about the entertainment destinations.
PVR, India’s largest cinema exhibition company, realizing the growing demand of a premium entertainment hub, launches its 5- screens multiplex at Orion Mall, which is also the first multi-brand mall in the city along with the multiplex. Situated in the heart of city, with ease of access from Railway Station and the ST Bus Depot, the location provides an unexplored viable catchment. With this launch, PVR’s screen count in Maharashtra reaches to 143 screens across 35 properties.
Speaking at the launch of the cinema, PVR Cinemas CEO Mr Gautam Dutta said, “Panvel is an upcoming city of Maharashtra. It has great infrastructures, good connectivity, affordable residential apartments and an audience, who are highly inclined to watch cinema at the best state of the art facilities. We are very excited to open our first multiplex in the city and hope that our brand becomes equally popular with the people here as well.”
The newly launched cinema has a unique and contemporary design of bollywood artwork and décor with an entrance wall of orange Italian stone portals marking the grand entry to the cinema foyer. The cinema is spread across an area of 25,292 sq ft and is capable of catering to 940 patrons. PVR Cinemas also offer an added convenience to movie-goers with the availability of Quick – tix, a time saving technology to instant ticketing solution. This allows the patrons to enter the theatre in a quicker and more efficient manner by avoiding the long queues. To add up to the offerings, PVR is also providing recliners for extra comfort. Technology remains the most important aspect of the cinema and PVR provides an exceptional digital movie watching experience to its patrons with 7.1 Digital Dolby surround sound, 4K projection system and 2nd Generation 3D enabled screens.
Further, PVR Ltd Joint managing director Mr Sanjeev Kumar Bijli, added, “It is an exciting moment for us as we launch our first multiplex in Panvel. I am sure we will be able to fulfill the expectations of our audience here. On behalf of PVR, I would like to thank M.P Associates, our developers, for providing us a prime location that caters to such a wide spectrum of audience. Since, Panvel now has the much needed premier platform for entertainment in the immediate catchment; the multiplex would stand as the favorite destination for the patrons from Navi Mumbai, Raigad District, Mahad, Roha, Alibagh and the places around it. We are looking forward to a massive response from the city.”
At the launch, Orion Mall Panvel (MP Group) promoter Mangesh Parulekar- said: “Orion Mall Panvel is the first mall in Panvel and PVR Cinemas is the first ever multiplex in entire Navi Mumbai. We are truly proud and honored to be associated with PVR Cinemas. What PVR offers is a complete movie experience which people of Navi Mumbai have never experienced before. There is lot of excitement amongst people here and the PVR Cinemas launch is much awaited. The reason to initiate this project was to offer the people of Panvel excellent quality brands and an overall shopping and entertainment experience. We have been successful in this mission with majority of the anchors and vanilla stores now in operation. PVR Cinemas launch is the cherry on the cake and we believe that this relation with PVR will act as an important attribute to enhance the entire experience we intend to provide at Orion Mall Panvel.”
With this launch, PVR reaches a total count of 524 screens at 114 properties across 47 cities pan India.
Brands
Kotak Mahindra Prime names Suraj Rajappan as managing director and chief executive
The car-finance arm of Kotak Mahindra Bank lines up a new chief and raises its borrowing limit
MUMBAI: Suraj Rajappan is getting the keys. Kotak Mahindra Prime Limited (KMPL), India’s veteran car-finance outfit, has named him managing director and chief executive, effective June 1st, 2026—the same day his predecessor drives off into retirement.
The board approved the appointment at its meeting on March 18th. Rajappan, currently a whole-time director at the company, has spent his entire 24-year career at KMPL, working across functions before rising to the top job. The three-year term remains subject to shareholder approval, and the company confirmed he faces no bar from SEBI or any other authority from holding the post.
He takes over from Shahrukh Todiwala, who superannuates on May 31st after more than three decades with the Kotak Group. Ashok Vaswani, managing director and chief executive of parent Kotak Mahindra Bank, was generous in his send-off. Todiwala, he said, “leaves behind a legacy marked by prudent growth, strong risk discipline, and a focus on customer-centricity.” Of his successor, Vaswani was equally bullish: Rajappan’s “deep industry experience and execution capabilities position KMPL well for its next phase of growth.”
The board also loosened the purse strings, raising the company’s overall outstanding debt limit from Rs 43,000 crore to Rs 48,000 crore. The expanded ceiling covers bank loans, debentures, commercial paper, treasury operations, credit facilities and external commercial borrowings.
KMPL has operated as a car-finance company since 1996, branching into two-wheeler loans in 2018 and loans against property in 2021. With fresh leadership, a bigger borrowing arsenal and an ambitious lender for a parent, Rajappan’s first task is clear: step on the accelerator.
