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It has pioneered the multiplex revolution in India by establishing the first multiplex cinema in 1997 and the largest 11-screen multiplex cinema in the country in 2004. Currently, Geographically diverse cinema circuit in India consists of 33 Cinemas with 142 screens spread over Delhi, Faridabad, Gurgaon, Ludhiana, Ghaziabad, Mumbai, Bangalore, Hyderabad, Chennai, Lucknow, Indore, Aurangabad, Baroda, Allahabad, Chhattisgarh, Ahmedabad Latur and Raipur. Taking India to the movies, the PVR brand has been successful in entertaining more than 16 million patrons in FY 2009-2010. PVR is the only film exhibition company in India to have had an international film exhibition operator as a strategic investor. PVR was incorporated in April 1995 pursuant to a joint venture agreement between Priya Exhibitors Private Limited and Village Roadshow Limited, one of the largest non-U.S. cinema exhibition companies in the world with more than 1,000 screens under operation. Village Roadshow's international experience enabled PVR to begin the film exhibition business operations at PVR Saket, the first Multiplex Cinema in India, using international best practices. In November 2002, as part of Village Roadshow's planned divestment of its investments in 18 countries, it sold its entire shareholding in PVR Company to Priya Exhibitors Private Limited. The company operates a film distribution and production business through PVR Pictures, a subsidiary of the company. PVR Ltd holds 60% shareholding in the subsidiary with the balance 40% stake held by JP Morgan Mauritius Holding Ltd and ICICI Venture in equal proportion (20% each). The movies co-produced by PVR Pictures include "Taare Zameen Par", "Jaane Tu Ya Jaane Na", "Contract" and "Mere Khwabon Mein Jo Aaye". Apart from the movies co-produced, some of the other movies distributed by us include "Ghajini", "Golmaal Returns", "Dasvidaniya", "Sarkar Raj", "Bal Ganesh", "Lions of Punjab", "Tum Mile", "Aviator", "Chicago", "Hannibal Rising", "Don", “Twilight”, to name a few. COMMENCEMENT OF THE PRODUCT PVR Limited (PVR) is in the business of film exhibition. The Company also engages in in-cinema advertisements/product displays and in-cinema sale of food and beverages
offering our patrons a superior cinema-going experience at each price point. and the film exhibition sector in particular. o Increase sales of food and beverages through product incentives. To achieve this vision. our business strategy emphasizes the following elements: • Continue to provide the highest exhibition standards to achieve customer delight. PVR further look forward to bringing allied retail entertainment concepts to India to complement and complete the entertainment experience for the consumers. development. the company continue to provide the highest exhibition standards at their cinemas besides increasing the number of cinemas under operation on a pan India basis. o We also plan to open lower cost cinemas using digital technology along with the refurbishment and remodeling of the cinema to give patrons a superior movie experience at an affordable price For further details. please see section titled “Our Business-New Cinema Projects” beginning on page [●]. “combo” products at a cheaper price. operating and management business under the management fee/franchise model. which increases the average value of each transaction. • Increase the number of cinemas under our operation on a pan India basis. • Continue to maximise revenue from our existing cinemas. Our main goals are to remain India’s largest and most preferred cinema exhibition company. will continue to experience strong growth. To achieve these goals. the telephone and electronic ticket kiosks. o We plan to increase box office revenue from our existing cinemas through flexible pricing to attract patrons at various points in time of the day and by the week. 4 • Capitalise on our market leader position and source consulting. Our Strategy With a strong appetite for movies and an upward migration of household income levels in India.VISION AND MISSION PVR’s long-term vision is to remain India's most premiums and most preferred Retail Entertainment Company. by maximizing the number of screenings of popular movies. o We shall continue to establish and/or acquire cinemas in line with our goal to remain India’s largest and most preferred film exhibition company. and o Utilise additional areas adjacent to a few of our cinemas for restaurants/food courts and sale . Our strategy is to adopt a price-based differentiation model. we believe that the Indian film industry. and making the purchase of tickets easier through our website. corporate bulk sales of tickets.
• Increase revenue from advertisers. This should enable us to increase our advertisement revenue.of music CDs and cassettes. The following persons constitute our Board of Directors: Mr. We intend to continue to follow primarily a derisked distribution model. We have already sub-let the additional spaces at the MGF Mall to food and beverages outlets on higher rentals. at Metropolitan Mall. Our goal for our film distribution business is to be the preferred distributor for both English and Hindi movies. Mr. Ajay Bijli. Ajay Bijli (Chairman cum Managing Director. which will be based on commission and/or revenue sharing. • Utilise economies of scale as we grow in size and expand our reach. As we increase our number of cinema screens there will be an increase in the number of our patrons. whilst our strategy for international films is to purchase the entire suite of distribution rights including the theatrical. Gurgaon and in our properties under development at Juhu. Our strategy is to distribute Hindi films in the same territories where our cinemas are located. The Chairman and Managing Director. we intend to position PVR Pictures as the distributor of choice for independent production houses that do not have a base in India for distributing their movies. The independence of a Director is determined on the basis that such director does not have any material pecuniary relationship with the Company. PVR Gurgaon. Mulund and Sahara Mall in Gurgaon. which are in the best interest of the Company. its promoters or its management. which consists of three Executive and three Non-Executive Directors. experience and expertise required to take decisions. which may affect the independence of the judgment of a Director. BOARD OF DIRECTORS The Board of Directors of the Company has an optimum mix of Executive and Non-Executive Directors. With respect to international movies. which will increase the attractiveness of our cinema circuit to advertisers. satellite/television and DVD rights for international films on an all India basis. The Board members possess requisite skills. These additional areas are available in our existing Multiplex Cinema. is an Executive Director and the number of Independent Directors on the Board is 50% of the total Board strength. Whole Time Director) .
Sanjay Khanna (Independent Director) .Mr. Vikram Bakshi (Independent Director) Mr. Sanjeev Kumar (Joint Managing Director) Mr. Sumit Chandwani (Independent Director) Mr.
Mr. Renaud Jean Palliere (Independent Director) Mr. Ravi K. Sinha (Independent Director) .