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Cineline India Re-enters Film Exhibition Business | ||
Mumbai, Maharashtra, India Cineline India Limited (part of Kanakia Group), one of the most renowned real estate players in MMRDA region is re-entering the film exhibition business and will launch the same under a new brand in Q1 FY23.
Rationale of Re-entry in the Film Exhibition Business
Mr. Rasesh Kanakia, Chairman, Cineline India Limited
Commenting on the same, Mr. Rasesh Kanakia, Chairman, said, “We are delighted to re-enter the film exhibition business in India. With various leave and license agreements between us and PVR expiring on 31st March 2022, the Company will launch a new brand for the film exhibition business in Q1 FY23. We plan to create a strong consumer-oriented brand in this segment.
Considering the fact that as the exhibition business inches closer to a return to normality, post-COVID, we see a strong pipeline of movies coming up in the next year, and patrons’ excitement to return to theatres will be quite high. We are seeing a big wave of opportunity and have big plans for growth in this business.” |
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