PVR Inox, India’s largest multiplex operator, is projecting record quarterly footfalls for the remainder of the current fiscal year (ending March 2026), according to comments made by a senior executive to Reuters on Monday. This optimistic outlook is fueled by a potent combination of a strong content slate, effective promotional offers, and the recent federal Goods and Services Tax (GST) cuts on cinema tickets.
The multiplex operator is banking on a steady pipeline of expected blockbuster hits from both Hollywood and Bollywood. This content strength already propelled the company to record footfalls during the July-September quarter, which saw a notable 15% year-on-year increase to nearly 45 million people.
Executive Director Sanjeev Bijli confirmed that the high footfall trend is poised to continue through March 2026. He emphasized the government’s reduction in GST as a critical factor. “The movie lineup is very good… I think we are optimistic and supported by the fact that GST reduction has given people extra propensity to spend on films,” Bijli stated in the interview.
Upcoming major releases cited as key drivers include the highly anticipated Hollywood films ‘Wicked: For Good’ and ‘Avatar: Fire and Ash’, as well as major Indian films like ‘Tere Ishk Mein’ and ‘Dhurandhar’.
Following a challenging previous year, where annual total revenue fell 5% to $58.75 billion rupees for the fiscal year ended March 2025, Bijli expressed confidence that the revenue decline will reverse. “It can definitely not be last year anymore… it looks to be a good year,” he added.
Furthermore, PVR Inox anticipates a rise in consumer spending on its ancillary services. Bijli expects the spends per head on food and beverages (F&B) to increase by a “conservative” estimate of between 4% and 6% during the October to March period, building on the 3.6% growth observed in the first half of the fiscal year.
The multiplex chain, formed by the merger of PVR and Inox in early 2023, is proactively countering the past year’s challenges, which included weak urban spending and competition from streaming sites like Netflix and Amazon Prime. The company has focused on re-releasing popular, older movies such as ‘Silsila’ and ‘Jab We Met’ and offers promotional benefits like discounted tickets on Tuesdays starting at 92 rupees ($1.05) to sustain audience interest.
Key Highlights:
- PVR Inox expects to achieve record quarterly footfalls until March 2026, driven by a strong content slate from Bollywood and Hollywood, and the federal GST cuts.
- The company already logged record footfalls in the July-September quarter with a 15% year-on-year increase to nearly 45 million people.
- Executive Director Sanjeev Bijli anticipates a reversal of last year’s 5% revenue decline and forecasts a 4% to 6% rise in Food & Beverage spends per head between October and March.
- Key upcoming releases like ‘Avatar: Fire and Ash’ and promotional efforts, including Rs 92 Tuesday tickets, are part of the strategy to sustain audience momentum.