PVR Inox to Launch Branded Food Courts in Collaboration with Devyani International

India’s leading multiplex chain, PVR Inox, is set to diversify into the food and beverage (F&B) sector with its first branded food court opening in December 2024. The company has partnered with Devyani International, the operator of popular brands like KFC and Pizza Hut, to form “Devyani PVR Inox Private Limited,” which will manage food courts in shopping malls across India. In its Q2 FY25 financial report, PVR Inox disclosed plans to open three to four food courts by the end of the current fiscal year, expanding to eight to ten more by the next year.

Gaurav Sharma, PVR Inox’s Chief Financial Officer, explained that the company’s existing F&B revenue is primarily from post-ticket sales at cinemas. However, the joint venture aims to move beyond the cinema sector by offering a branded food court experience in malls. This strategy is intended to capitalize on the absence of established food court chains in India and provide a new avenue for growth outside the theatre space.

Despite these efforts, PVR Inox posted its third consecutive quarterly loss, with a net deficit of Rs 11.8 crore in Q2 FY25. The weak Bollywood release slate and the growing popularity of streaming services have kept audiences away from theatres, impacting both box office and F&B sales. However, the company remains optimistic about its F&B expansion and is also exploring partnerships with online delivery platforms like Swiggy to enhance its digital revenue streams.

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