New Delhi, July 9 (ANI
): PVR Cinemas' management is relieved with the approval of Competition Commission of India (CCI) to give a nod to the company's acquisition of DT Cinemas
The two companies will provide great synergy going forward, said Sanjeev Kumar Bijli, Joint MD of the multiplex company.
"The DT acquisition will further boost PVR's revenues by Rs. 200 crore and will add 60-70 new screens this year," said CMD Ajay Bijli.
"With this deal, the company will add an EBITDA
of Rs. 40 to 50 crore," added Ajay Bijli.
While almost 80 percent of the company's portfolio is under matured properties, some properties opened last year will mature and strengthen books going ahead.
PVR's operating margins last fiscal year stood at 17.9 percent. PVR
's CMD is targeting to improve margins by the scale of expansion, particularly in big cities. (ANI