Brands
Sports & experiential ent.: PVR & Major sell bluO to Smaaash for Rs 860 mn
MUMBAI: PVR Ltd today announced that it has entered into definitive agreement with Smaaash Entertainment (‘SMAAASH’) to sell its stake in bluO entertainment, a premium bowling and entertainment format operated by the company.
As part of its national expansion plans, world class gaming and entertainment company Smaaash Entertainment has acquired 100 per cent stake in bluO entertainment (a premium bowling and entertainment format), for a consideration of approximately Rs. 860 million.
bluO is a joint venture between PVR Limited and Major Cineplex Group of Thailand in which PVR owns 51 per cent stake with balance 49 per cent stake held by Major Group. The acquisition marks the doubling of the area under Smaaash management from 276,000 square feet to approximately around 600,000 square feet in India.
The significant acquisition also adds six centres (approximately 210,000 sq. ft. of premium space) across five cities to Smaaash’s existing blueprint of seven centres in India and one in Minneapolis in the United States. The newly acquired centres will operate under Smaaash branding and two more centres are expected to open shortly. Smaaash will introduce its signature games at all bluO centres, which only had bowling before.
PVR chairman & MD Ajay Bijli said, “The sale of bluO is in line with our strategy to divest all non-core assets and focus on our core cinema exhibition business. It is also reflective of the value embedded in our core assets and demonstrates our commitment to increase shareholder value and provide management a more focused approach for enhancing value in exhibition business. We are pleased to sell the business to Smaaash, which is a leader in retail and entertainment space in India and the US; and believe that they will take the business to even greater heights.”
Smaaash Entertainment chairman & CIO Shripal Morakhia said, “The strategic acquisition of bluO is a significant step in doubling Smaaash’s scale and outreach in India’s fast growing retail entertainment space. The synergies between both brands are deeply symbiotic in creating a network of centers in key cities that are designed as destinations with a relentless focus on wholesome sports, active life, and adventure for urban citizens. We are sure that bluO’s premium locations, infrastructure and F&B offerings, coupled with Smaaash leadership in innovation with new technology and virtual reality, will fill a much-needed gap for experiential entertainment in our country. We are committed to enhancing profitability and revenue per centre while being the custodian of customer smiles in these centres.”
The acquisition comes on the heels of Smaaash’s recent international success story in the Mall of America, Minneapolis, United States.
EY acted as the exclusive financial advisor to the shareholders of PVR bluO for the transaction.
Brands
Eternal posts Rs 54,364 crore revenue, up 168 per cent in FY26
Q4 profit rises to Rs 174 crore as firm streamlines District business
NEW DELHI: Eternal Limited reported a sharp surge in scale for FY26, with consolidated revenue rising 168 per cent year-on-year to Rs 54,364 crore, underscoring strong growth across its core businesses.
The company’s growth was mirrored in its bottom line, with a total annual profit of Rs 366 crore. The fourth quarter was particularly strong, contributing Rs 17,292 crore in revenue and Rs 174 crore in profit, a sharp rise compared to the Rs 39 crore profit recorded in the same period last year.
Key financial metrics from the report include:
- Total assets: Increased to Rs 40,736 crore from last year’s Rs 35,623 crore.
- Delivery charges: The company collected Rs 9,065 crore in delivery and related charges over the year.
- Employee costs: Staffing and benefit expenses amounted to Rs 3,536 crore.
- Liquidity: The firm maintains a cash balance of Rs 996 crore, supported by Rs 632 crore generated from operating activities.
On the strategic front, the company has approved the transfer of its District platform’s technology stack to its wholly owned subsidiary, Wasteland Entertainment Private Limited. The deal, valued at Rs 24.19 crore, will be completed in cash and is expected to close by May 1, 2026, along with the transition of select employees. The move is aimed at consolidating its entertainment and ticketing operations under a focused entity.
From a regulatory standpoint, statutory auditors Deloitte Haskins & Sells issued an unmodified opinion on the financial results. However, they flagged an ongoing show cause notice related to GST on delivery charges, which the company continues to contest, citing a strong legal position.
With robust revenue growth and ongoing structural tweaks, Eternal is clearly sharpening its playbook as it expands beyond its core into a broader consumer services ecosystem.
