Our Competition Law Partner Naval Satarawala Chopra conducted a fireside chat with Mr. Ajay Bijli, Chairman and Managing Director, PVR Limited, on “The journey of PVR and how it is navigating the Covid-19 environment”. On the complete shut-down of theatres on account of the pandemic, Mr. Bijli stated that it was important to view the situation from a humanitarian perspective as what PVR was going through was a sub-set of the devastation the pandemic had wrought on the world in general. Emphasising on the two engines critical for their business– appetite of the Indian movie lovers to watch movies outside the confines of their homes and the sheer number of films released every year on big screens, with theatres contributing almost 60-70% in the overall revenues – Mr Bijli has kept alive the faith of his team and stakeholders, on the strong fundamentals of the cinema business.
Mr Bijli spoke about how PVR’s journey commenced with one single screen cinema in the early 1990s and how it strategically progressed to opening several multiplexes across the country. His passion for growth for the cinema business was evident as he shared his philosophy of keeping the company as his priority, that had continuously driven his business to consistent growth. Reinstating his belief in the big screen story, Mr. Bijli highlighted his vision of expanding his business in India not just in the theatre business but also in associated aspects such as film production and content creation, digital platforms and food & beverages, among other things.
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