Inox Leisure Embarks on Ambitious Expansion in Eastern India
After establishing a strong presence in cities like Vadodara, Kolkata, Mumbai, and Goa over the last six years with 24 multiplex screens, Inox Leisure is now aggressively expanding its footprint in Eastern India.
Upcoming Multiplex Locations
The company has been discreetly acquiring properties in:
- Burdwan Rajarhat
- Panditya Road
- Haldia
- Howrah
- Jessore Road Asansol
- Siliguri
Investment and Growth Plans
- Total Investment: Estimated to exceed ₹100 crores
- Objective: Scale up presence across India, bolstering the group's eastern sector business
- Future Plans: At least 18 multiplexes with 67 screens in Eastern India, up from the current five multiplexes
Alok Tandon, COO, Inox Leisure, Shares Insights
“Kolkata and Eastern India are integral to our strategy. We will significantly increase our multiplex count in this region.”
Expansion Strategy Highlights
- Hub and Spoke Model: Targeting multiple locations, including Bangalore, Hyderabad, Nagpur, Goa, Mangalore, and Navi Mumbai
- Annual Expansion: Aiming for 3-4 new locations every year for the next 2-3 years
- 2020 Vision: At least 68-70 multiplexes with approximately 260 screens
- Investment per Screen: ₹2-2.5 crores, covering equipment, interiors, and more
Approach to Expansion
- Flexible Acquisition Strategy: Open to purchasing properties at attractive prices, leasing, or potential future acquisitions, as exemplified by the acquisition of Calcutta Cine Pvt Ltd (CCPL)
Upcoming Board Meeting
- Date: June 09
- Agenda: Recommendation of dividend for the financial year ended March 31, 2008