Vatika, PVR tie up to open 26 multiplexes in three cities

Real estate developer Vatika Group on Wednesday announced a tie-up with multiplex operator PVRto open and operate 26 multiplex screens in three of Vatika Group’s townships.

The multiplexes will be opened at Vatika India Next in Gurgaon, VatikaInfotech City, Jaipur, and Vatika City Central, Ambala. An amount of over Rs 300 crorewill be invested jointly by Vatika and PVR for the multiplexes. Altogether, the multiplexes will have a seating capacity for 5,000 people. All the three properties are expected to be operational by the fourth quarter of 2018-19.

Once operational, it will be the first PVR in the cities of Jaipur and Ambala and the largest multiplex in Gurgaon with 14 screens.

According to Vikas Sahdev, Head Sales & CRM, Vatika Group, “We are happy to partner with PVR. This will make the townships attractive from an entertainment standpoint and ensure the residents of the townships and nearby areas experience a world-class viewing experience”.

Ashwani Handa, Chief Development Officer, PVR Ltd., said, “We are excited about our partnership with Vatika Group for such a vast geographical project, spread across three cities- Jaipur, Ambala and Gurgaon. The locations in all these cities are very promising in terms of developing infrastructure and being a hub of the real estate sector.”