New Delhi: Bollywood actor Ajay Devgn’s NY Cinemas on Wednesday tied up with realty agency Elan group for establishing a 5-screen multiplex in a Gurugram shopping center which is being developed at a price of Rs 450 crore.
That is the primary ever tie-up of NY Cinemas in north India. At the moment, NY Cinemas has 15 operational screens throughout the nation and has already signed 60 extra.
Devgn, who launched a multiplex chain beneath the model title NY Cinemas, is focusing on 250 screens within the subsequent 4-5 years.
Elan Group is investing Rs 450 crore to develop a luxurious retail mission ‘Elan Epin’ at Gurugram with a built-up space of seven.5 lakh sq ft. This mission will home a 5 silver display screen multiplex with an space of 46,000 sq ft.
On the tie-up, the Bollywood star stated, “By being their marquee cinema, we take a step closer towards providing a world-class cinema experience to movie lovers and promoting an inclusive environment.”
On growth, Devgn stated NY Cinemas intends to have a presence in each a part of the nation.
When requested about risk to cinemas from digital media, the actor stated: “Experience of cinema has not gone down globally.”
NY Cinemas CEO Rajeev Sharma stated the corporate has acquired single-screen cinemas and transformed into multiplex at Hapur and Gazipur in Uttar Pradesh.
The corporate would look out for such acquisitions and likewise tie up with builders for growth, he added.
Elan group MD Ravish Kapoor stated, “We are confident that this association will not only enhance the experience of moviegoers in Delhi/NCR, but also allow NY Cinemas to offer its services to a much wider audience.”
Kapoor stated this shopping center and multiplex will change into operational in 2021-22.
Elan group already has a tie-up with PVR Cinema for 15 screens in its varied industrial initiatives in Gurugram.
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