The Hindu Business Line : INOX's first single screen facility soon

Earlier known as Milind Cinema Hall, the new mall is being developed by Pantaloons group, and as part of the alliance between the two companies, INOX as a multiplex operator has a preferential access to all malls with a multiplex component, being set up by Pantaloon group and funds managed by it. The new facility would have over 400 seats.

"We are primarily a multiplex operator, but if we see a good business proposal generating good revenues and footfalls, we would not shirk from that opportunity," Mr Alok Tandon Chief Operating Officer, told Business Line.

The company is willing to replicate the model in other parts of the country too depending on the prospects, added Mr Tandon.

This screen will take the total number of INOX screens in India to 55. As of now, INOX has 15 multiplexes and 54 screens. The company has already made it known to take its multiplex count to 44 and have 179 screens by 2008-end, spending Rs 2-2.5 crore per screen.

INOX currently has a presence in 13 Indian cities that include Pune, Vadodra, Kolkata, Goa, Mumbai, Bangalore, Jaipur, Indore, Darjeeling, Kota, Nagpur and Chennai. A three-screen multiplex with 1,086 seats has also come up in Vijayawada last month. The multiplex operator, promoted by Gujarat Flurochemicals Ltd, currently has 16,337 seats and the expansion would take its number to above 50,000 across India by 2008-end.

"For us, it is important that our property comes up either in a part of central business district or an affluent residential area. People associate INOX with a lifestyle statement and it reflects in the kind of service and experience that we provide to our customers," said Mr Tandon.

INOX has already expressed plans to enter tier-II cities such as Kharagpur, Faridabad, Raipur, Jaipur, Jodhpur, Lucknow, Bardwan and many more.

Eastern region

To strengthen its presence in eastern India, last year INOX acquired Calcutta Cine Private Ltd (CCPL) operating under `89 Cinemas' brand in West Bengal. The company issued 33 equity shares of Rs 10 each of INOX Leisure Ltd for every one equity share of Rs 1,000 each of CCPL. This entailed an issue of 18,81,000 shares of the company to CCPL shareholders, which is approximately 3 per cent of total paid-up capital of INOX.

Mr Tandon said the West Bengal-based operator has two operational multiplexes in Kolkata and Durgapur and tied up for properties to build and operate seven other multiplexes in West Bengal and Assam.

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