Sathyam to set up two multiplexes in Chennai
Sathyam Cinemas expects to invest around Rs 30 crore in launching two multiplexes in Chennai by 2008. Sathyam’s forthcoming multiplexes would be located in shopping malls. This will take the number of multiplexes located in shopping malls in Chennai to five.
Kiran Reddy, managing director, Sathyam Cinemas, told Business Standard: “We will lease space for the multiplexes in two malls, one coming in Vadapalani and the other at Kilpauk.”
Both the multiplexes are expected to be functional in three years. The one, planned in Vadapalani, will be a 3,000-seater. The multiplex at Kilpauk would be a smaller one with a seating capacity of 600, and would come up in the mall proposed on Ponnamallee High Road.
“We plan to have at least 10 screens in the multiplex at Vadapalani and seven to eight in the multiplex at Kilpauk. Each screen would cost about Rs 1.5 crore to Rs 2 crore,” he added.
Reddy pointed out that the choice of setting up a multiplex in a mall will help reduce cost as it will be on a lease-basis, which is cheaper, compared to setting up a theatre in a prime location in the city.
“We have also entered into a joint-venture with Shringar Cinema to set up a multiplex in Kochi, which is also expected to be completed by 2008,” he added.
When asked about the funding for these projects, Reddy said it would be through internal accruals. Sathyam Multiplex has six theatres, the latest introduction being ‘Six Degree’ with 183 seats. ‘Sathyam’ is the largest one with a seating capacity of 1,256. The other four are ‘Santham’, ‘Subham’, ‘Studio 5’ and ‘Sree.’
The concept of setting up multiplexes in shopping malls was introduced by Abirami Theatre in the city in 2003.
Delhi-based PVR Cinemas is also expected to set up a six-screen multiplex at the up-coming Ampa Mall. The mall will have a built-up space of six lakh sq ft, spanning over three acres of land.
Abirami Theatres is also mulling a multiplex in the southern part of the city. Sv Rm Ramanathan, managing director of Abirami Theatres, had mentioned that the company was searching for a land space of 1.5-2 acres in South Chennai for setting up the multiplex.
Via [Business World]
Kiran Reddy, managing director, Sathyam Cinemas, told Business Standard: “We will lease space for the multiplexes in two malls, one coming in Vadapalani and the other at Kilpauk.”
Both the multiplexes are expected to be functional in three years. The one, planned in Vadapalani, will be a 3,000-seater. The multiplex at Kilpauk would be a smaller one with a seating capacity of 600, and would come up in the mall proposed on Ponnamallee High Road.
“We plan to have at least 10 screens in the multiplex at Vadapalani and seven to eight in the multiplex at Kilpauk. Each screen would cost about Rs 1.5 crore to Rs 2 crore,” he added.
Reddy pointed out that the choice of setting up a multiplex in a mall will help reduce cost as it will be on a lease-basis, which is cheaper, compared to setting up a theatre in a prime location in the city.
“We have also entered into a joint-venture with Shringar Cinema to set up a multiplex in Kochi, which is also expected to be completed by 2008,” he added.
When asked about the funding for these projects, Reddy said it would be through internal accruals. Sathyam Multiplex has six theatres, the latest introduction being ‘Six Degree’ with 183 seats. ‘Sathyam’ is the largest one with a seating capacity of 1,256. The other four are ‘Santham’, ‘Subham’, ‘Studio 5’ and ‘Sree.’
The concept of setting up multiplexes in shopping malls was introduced by Abirami Theatre in the city in 2003.
Delhi-based PVR Cinemas is also expected to set up a six-screen multiplex at the up-coming Ampa Mall. The mall will have a built-up space of six lakh sq ft, spanning over three acres of land.
Abirami Theatres is also mulling a multiplex in the southern part of the city. Sv Rm Ramanathan, managing director of Abirami Theatres, had mentioned that the company was searching for a land space of 1.5-2 acres in South Chennai for setting up the multiplex.
Via [Business World]
HELLO, PLEASE VISIT INOX MULTIPLEX IN CITY CENTER, DR.RADHAKRISHNAN SALAI. IT IS EVEN BETTER THAN SATYAM COMPLEX.
RAMKEY
Posted by
Ramki |
3:32 AM
Sathyam and Inox were best in Chennai ..Abirami is totally shabby.Ugly., Poor management.. Maybe will get some disease also if any one went inside..
Posted by
Unknown |
4:38 AM