My Cinemas plans 300 screens in 3 years

MUMBAI: Inspire Multiplex (IMPL), which operates multiplexes under the My Cinemas brand, is planning to open 300 screens over three years.

Said IMPL director and Jt. CEO Amitabh Vardhan, “The multiplex or exhibition business is growing at a rate of more than 30 per cent annually in India and there is a huge scope for mass players. We have planned to open 300 screens across the globe in the coming three years for which we are looking at investing close to Rs 4.5 billion. We are looking at entering markets like Europe, Africa and the US.”

My Cinemas will open a multiplex in Haridwar in the next three months and one in Pune within seven months.

My Cinemas has ticket prices ranging from Rs 49 to Rs 300 per person, depending on the market.

The company, which has already entered Bulgaria, is crafting its plans to enter markets like Romania this year, according to Vardhan.