Carnival Group, which owns and operates Carnival multiplexes, said it will be investing Rs.300 crore to set up over 80 multiplexes in tier II and III cities. The company said it is focusing on the second rung cities to tap the latent demand for multi-screens in such cities.
Shrikant Bhasi, Chairman, Carnival Group, told BusinessLine , “There is a dearth of quality entertainment in tier II and III cities. We are looking to add screens in cities which have little or no access to entertainment avenues.” “We have seen that in smaller cities in Madhya Pradesh people travel to Bhopal during the weekend to watch movies, shop and eat out. We are looking at such cities where there is a compelling need for quality entertainment. Our aim is replicate the city multiplex experience at a lower cost,” he added. He said the company will be adding new screens in cities with an average population of four-five lakh.