By: Settu Shankar
Tuesday, August 21, 2007
Chennai based movie theatre chain Pyramid Saimira Theatre Limited (PSTL) is now eyeing 'God's own land', Kerala. The corporate is all set to lease out 150 theatres across Kerala during this financial year.
According to the Managing Director of PSTL, the company is planning to invest Rs.250 million in Kerala. Apart from leasing out theatres, it also would produce 10 Malayalam films every year. PSTL have already taken up the national distribution rights for Mohanlal's Pardesi and the Kerala rights for the Hindi film Ram Gopal Varma Ki Aag.
Sources say that PSTL has already finished leasing deals with several theatres in the state. As of now, they have a total of 371 leased theatres under their management in south India, and most of them are located in Tamil Nadu. "Our plan is to be present in 1,550 locations across the country with over 2,000 leased theatres by 2010," said P.S.Swaminathan, the MD of PSTL.
The Kerala film Industry has welcomed PSTL to resuscitate life into the industry which is now almost in a sick condition. The number of films getting released in a year has already fallen to around 80 from 100, and the number of theaters screening Malayalam films has also fallen from 1200 to 900!