PVR Signs Agreement with M3M India in their largest Retail Project in Gurugram

PVR Signs Agreement with M3M India in their largest Retail Project in Gurugram

PVR has signed an agreement with M3M India to set-up an 8-screen multiplex at M3M 65th Avenue, the recently delivered largest luxurious retail project in Gurugram by M3M India, spread across 14 acres, with 1 million square feet of retail space and built with a top-line of Rs 4,000 crore.

M3M India’s 65thAvenue is one of the most luxurious retail properties, located near M3M Golfestate and Trump Towers, at prime Golf Course Extension Road Gurugram. The 65thAvenue has been designed by Bental Associates, a South Africa’s architectural firm.

Announcing the agreement, Sanjeev Bijli, Joint Managing Director, PVR Limited said, “As part of our expansion plan, we have been looking to set-up an ultra-modern and state-of-the-art 8-screen multiplex at a prime property in Gurugram. The M3M 65thAvenue has impressed us a lot in terms of architecture and designing and also the location. It has a huge potential and is expected to cater to about half a million population in the vicinity. We have gone ahead and signed the agreement and are looking forward to presenting the best of movie experience. I am sure, with time 65thAvenue will prove to be one of the most finest and sought after destinations for not just movie lovers but also for shoppers and dining audiences.”

“I am also looking forward to take this association further with M3M India. I understand M3M India is coming up with a big project near the international airport and diplomatic enclave, which will have retail as well as residential complexes. I also understand that this will be located at a central point between Delhi and Gurugram. Though we are exploring more on this project, we definitely have in mind to find an opportunity when it is announced,” Sanjeev Bijli added.

Speaking on the occasion, Pankaj Bansal, Director-M3M India said, “PVR has defined luxurious multiplex experience to movie lovers in India. It has become a synonym for movie lovers. We are delighted to partner with PVR and welcome them to M3M India’s 65thAvenue. The M3M 65thAvenue has been conceptualized as a high-end experience and association with best of the brands has given 65thAvenue its niche position. It will prove to be another milestone and will provide 360 degree experience to the Gurugram and SPR audience.”

“Our focus has always been to not just meet the expectations of our customers and investors, but also go beyond to give them the best of experience and timely possession,” Pankaj Bansal added.

A number of brands have already signed — in for retail space at M3M India’s 65thAvenue which include Reliance Trends, Bikaner, Pantaloons, Max Fashion, Derika, Mastizone, Headmasters, Smaaash and Home Town. The 65thAvenue will have a 55,000 square feet of food court and a gaming zone of about 42,000 square feet. It will also have 30,000 square feet of meticulously designed atrium, much useful for new product launches. M3M India has so far delivered 40 projects in the last 10 years that include about 4 million square feet of retail space and 20 million square feet of overall space.

Sharing details about this partnership, Pramod Arora, Chief Growth and Strategy Officer, PVR Limited said, “We are happy to announce our upcoming cinema development at Avenue 65, which is a perfect blend of Fun, Food, Fashion and Films under one roof, synonymous to PVR. We look forward to bringing the best of premium & luxury cinema experience for the population around. Designed to be a mecca of entertainment for the millennial city, the multiplex shall also comprise LUXE Cinemas and a lounge for the discerning few, who prefer nothing but the very best.”

M3M India also recently delivered M3M Corner Walk and M3M Prive’. M3M Corner Walk has 874 units spread across 8.7 lakhs square feet space and M3M Prive‘ has 298 units spread across 1.9 lakh square feet space. M3M India’s ATRIUM57, spread across 2 lakh square feet is also a high-street retail project that has all shops either facing main atrium or the main road. The triple height shops (30 feet height) at ground floor in Atrium57 have flexibility of adjusting the height as per the requirements. M3M India has also been in the news for selling over 1000+ units of M3M Soulitude residential project in the very first week of its launch. The Company clocked Rs 1,000 crore sales within the first week itself.

PVR is the largest and the most premium film exhibition company in India. Since its inception in 1997, the brand has redefined the way entertainment is perceived in the country. PVR currently operates a cinema circuit comprising 860 screens at 179 properties in 73 cities (India and Sri Lanka), serving over 100 million patrons annually. PVR offers an array of formats in the premium screen category, which stands at 8 screens of Director’s Cut, 39 screens of LUXE, 04 screens of Sapphire, 09 screens of IMAX, 19 screens of 4DX, 09 screens of P(XL), 13 screens of Playhouse and 01 screen of PVR Onyx across the country.

Source : ET

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