Brands
Q1-2016: PVR PAT improves more than sevenfold; to raise Rs 500 crore
BENGALURU: Indian motion picture exhibition, production and distribution house PVR Limited (PVR) reported more than sevenfold increase in profit after tax (PAT) in the quarter ended 30 June, 2015 (Q1-2016) as compared to the corresponding year ago quarter.
PVR’s PAT for Q1-2015 was Rs 58.45 crore (12 per cent of Total Income from Operations or TIO), while in Q1-2015, it was Rs 7.66 crore (2.1 per cent of TIO). The company had reported a loss of Rs 35.66 crore in the immediate trailing quarter (Q4-2015) citing impact by poor movie content and World Cup Cricket towards the end of FY-2015.
Note: 100,00,000 = 100 lakh = 10 million = 1 crore
All numbers are consolidated unless stated otherwise.
Additionally, PVR’s board of directors has also approved to raise a sum of Rs 500 crore by issuing Non Convertible Debentures (NCD) subject to approval by the members of the company in the forthcoming Annual General Meeting.
The board also approved the scheme of merger of PVR Leisure Limited and Lettuce Entertain You Limited with the Company.
Approval was also given for the allotment of 50,00,000 equity shares priced at Rs 700 per share of face value Rs 10 each equity share at a premium of Rs 690 per share aggregating to Rs 350 crore on preferential basis to Plenty Cl Fund I Limited, Multiples Private Equity Fund II LLP and Plenty Private Equity Fund I Limited.
Box Office performance
This quarter has seen the release of some hits and super hits like Tanu Weds Manu Returns (Gross Box Office or GBO Rs 46.9 crore, 25 lakh admits, Average Ticket Price or ATP Rs 185); Piku (GBO Rs 27.7 crore, 15 lakh admits, ATP Rs 186); Fast and Furious 7 (GBO Rs 26.6 crore, 15 lakh admits, ATP Rs 174); ABCD2 (GBO Rs 23.4 crore, 13 lakh admits, ATP Rs 183); and Avengers-Age of Ultron (GBO Rs 24.4 crore, 13 lakh admits, ATP Rs 182) that have driven the resurgence in revenue as well as PAT.
Net Box Office (NBO) collections in the current quarter increased 34.96 per cent to Rs 274.19 crore from Rs 203.16 crore in Q1-2015. Q1-2016 saw admits increasing by 25 per cent to 1.9 crore with an occupancy of 38 per cent as compared to 1.52 crore with an occupancy of 32 per cent in Q1-2015. ATP in the current quarter also improved to Rs 183 from Rs 176 in Q1-2015.
While the share of NBO as percentage of TIO has gone up fractionally in Q1-2016 to 59.3 per cent (Rs 249.12 crore) from 59.2 per cent (Rs 197.61 crore) in Q1-2015, Food and Beverage (F&B) share has gone up to 28 per cent (Rs 117.87 crore) from 25.9 per cent (87.04 crore) in Q1-2015, advertising share has dropped in percentage terms but increased in value terms to Rs 41.62 crore (9.9 per cent) in the current quarter from Rs 35.2 crore (10.2 per cent) and others contribution has dropped to 2.8 per cent (Rs 12 crore) from Rs 14.95 crore (4.5 per cent).
Let us look at the other numbers reported by PVR
The company has reported positive results in Q1-2015 from all its revenue generating segments, which include movie exhibition, movie production and distribution as well as ‘Others,’ which includes bowling, gaming and restaurant services, etc. As a matter of fact, the ‘Others’ segment has returned an operating profit of Rs 0.82 crore in Q1-2016 as compared to operating losses of Rs 2.46 crore and Rs 1.46 crore in Q1-2015 and Q4-2015 respectively.
TIO in Q1-2016 at Rs 486.02 crore was 34.2 per cent more than the Rs 362.26 crore in the corresponding year ago quarter and was 62.3 per cent more than the Rs 299.55 crore in Q4-2015.
Net F&B revenue increased by 45.9 per cent in Q1-2016 to Rs 129.79 crore from Rs 88.97 crore in the corresponding year ago quarter. Spend per head has increased 16 per cent to Rs 74 in Q1-2016 from Rs 63 in Q1-2015. The company says that it has managed to lower the cost of goods and sold (COGS) by 4.1 per cent in Q1-2016 to 24.9 per cent from 29 per cent in Q1-2015.
PVR’s sponsorship revenue has gone up 27.5 per cent to Rs 45.69 crore in Q1-2016 from Rs 35.84 crore in Q1-2015. The company says that eight blockbusters in the quarter helped maximizing revenues namely Tanu Weds Manu Returns, Fast & Furious 7, Piku, Avengers, ABCD2, Jurassic World, Dil Dhadakne Do and Gabbar is Back.
Total expense in Q1-2016 at Rs 402.77 crore (82.9 per cent of TIO) was 19.6 per cent more than the Rs 336.68 crore (92.9 per cent of TIO) in Q1-2015 and was 28.2 per cent more than the Rs 314.12 crore (104.9 per cent of TIO) in the immediate trailing quarter.
The company’s film exhibition cost increased 30 per cent to Rs 113.69 crore (23.4 per cent of TIO) in Q1-2016 as compared to the Rs 87.48 crore (24.1 per cent of TIO) in Q1-2015 and increased a massive 80.6 per cent as compared to the Rs 62.96 crore (21 per cent of TIO) in Q4-2015.
F&B and other cost in Q1-2016 increased 25.2 per cent to Rs 34.59 crore (7.1 per cent of TIO) as compared to the Rs 27.63 crore (7.2 per cent of TIO) in Q4-2015.
Other expense in Q1-2016 increased 33.8 per cent to Rs 37.72 crore (7.8 per cent of TIO) as compared to the Rs 28.20 crore (7.8 per cent of TIO) in Q1-2015, but was 16.9 per cent lower than the Rs 45.38 crore (15.1 per cent of TIO) in the immediate trailing quarter.
Brands
Mana Projects names Ranbir Kapoor brand ambassador amid rebranding
Bengaluru developer unveils new identity focused on design and nature.
MUMBAI: When real estate meets reel star power, the foundation for a new brand story is often laid brick by brick. Mana Projects, the Bengaluru based real estate developer, has appointed actor Ranbir Kapoor as its brand ambassador while unveiling a refreshed brand identity aimed at aligning the company with the evolving expectations of modern urban homebuyers.
The announcement marks a new phase for the developer, which has spent over two decades building residential communities in Bengaluru, particularly along emerging growth corridors such as Sarjapur Road.
The updated brand identity reflects the company’s emphasis on design led living and environmentally conscious development. According to the developer, the new positioning focuses on creating residential spaces where architecture, nature, engineering and lifestyle planning work together to shape meaningful living experiences.
Mana Projects chairman and managing director D. Kishore Reddy said the rebranding represents a natural progression as the company adapts to the expectations of a new generation of homeowners.
“This rebranding represents the natural evolution of Mana Projects as we align ourselves with the aspirations of a new generation of homeowners, particularly millennials who form the backbone of Bengaluru’s dynamic homebuyer community,” Reddy said.
He added that today’s buyers increasingly look beyond basic housing to spaces that combine design, sustainability and a strong sense of community.
“At Mana, our philosophy centres on creating homes where space is purposeful, design is intelligent, nature is respected and engineering ensures long term sustainability. Our association with Ranbir Kapoor reflects this new chapter as we continue to build communities that enable people to truly live brilliantly,” he said.
Kapoor, who has been associated with several lifestyle and consumer brands, said the partnership resonated with his own understanding of what makes a home meaningful.
“A home is one of the most meaningful investments people make in their lives, and it should reflect comfort, warmth and a sense of belonging,” Kapoor said.
“What impressed me about Mana Projects is the brilliance of their thought, the way design, nature and functionality come together to enhance everyday living. I’m delighted to be associated with Mana Projects as they continue to create homes that inspire modern urban families to truly live brilliantly.”
The collaboration will be introduced through a large scale integrated campaign spanning digital platforms, outdoor media and experiential activations, making it one of the developer’s most prominent branding initiatives in recent years.
Founded in Bengaluru, Mana Projects has built a portfolio of residential developments that emphasise thoughtful architecture, amenity rich neighbourhoods and environmentally sensitive planning. The company’s projects often integrate open spaces, green landscapes and energy efficient engineering to support sustainable urban living.
With Bengaluru continuing to attract young professionals and technology workers, the developer believes the city’s housing market is increasingly being shaped by buyers seeking well planned communities that balance functionality with quality of life.
Looking ahead, Mana Projects plans to expand its presence across the city by developing future ready residential projects designed to accommodate emerging lifestyle trends such as hybrid work culture, community driven living and multigenerational households.
By combining a refreshed brand identity with a high profile ambassador, the company hopes to strengthen its position in Bengaluru’s competitive real estate market while appealing to a new generation of homeowners seeking homes that blend design, nature and modern living.
