Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Crisis ridden realty major <keyword id="6362997" type="CITY" weightage="20" keywordseo="DLF">DLF</keyword> will sell its cinema exhibition business, <keyword id="200503" type="COMPANY" weightage="20" keywordseo="DT-Cinemas">DT Cinemas</keyword>, through its subsidiary DLF Utilities, to <keyword id="799" type="CITY" weightage="20" keywordseo="PVR">PVR</keyword> Limited on a slump sale basis for an aggregate consideration of around Rs 500 crore. 
	 
	“The deal is in line with our strategy to focus on our core business and divest non-core businesses or assets. It is also reflective of the value embedded in our core assets and demonstrates our commitment to increase shareholder value. It shall provide the management a more focussed approach for enhancing value especially in our retail mall business," said Saurabh Chawla, senior executive director, DLF. 
	 
	Sharing a similar sentiment, Ajay Bijli, chairman and managing director of PVR noted that the acquisition is in sync with the company’s core strategy to offer the best cinema experience to Indian consumer. 
	 
	It should be noted that EY India and Luthra &amp; Luthra were the financial and legal advisors respectively to DLF and Shardul Amarchand Mangaldas &amp; Co was the legal advisor to PVR on the transaction. 
	 
	Currently, DT Cinemas runs 29 screens with an estimated 6,000 seats across eight properties in the National Capital Region and Chandigarh. 
	 
	Representational Image: Indiatimes.com

DLF to sell DT Cinemas to PVR for Rs 500
crore!

India’s largest multiplex chain <a href="http://www.businessinsider.in/You-can-buy-a-PVR-movie-ticket-on-Paytm-now/articleshow/51494335.cms">PVR</a> Cinemas is all set to launch 10 Virtual Reality (VR) lounges worth Rs 15 crore across some of its properties spread countrywide. 
 
The first such lounge was launched in Noida, and similar lounges will come up in Mumbai, Delhi and a couple of South Indian cities in next six to eight months. 
 In these VR lounges, <keyword id="406134" type="UNKNOWN" weightage="20" keywordseo="movie-buffs">movie buffs</keyword> will get to experience a new dimension of entertainment before the film begins. 
 
"We track our consumers' journey across properties and are always on the lookout for what more we can offer them. This idea of <a href="http://www.businessinsider.in/tech/we-just-got-the-first-real-look-into-how-well-virtual-reality-is-selling/articleshow/57379295.cms">VR</a> lounge came last year and we partnered with HP for the latest ground-breaking technology," said <a href="http://www.businessinsider.in/Know-why-PVRs-stocks-are-enjoying-their-showtime/articleshow/48050084.cms">PVR</a> CEO <keyword id="9154" type="PERSON" weightage="20" keywordseo="Gautam-Dutta">Gautam Dutta</keyword>. 
 
Dutta added that it would cost about Rs 1.5 crore per lounge on an average, owing to average per seat cost being Rs 25 lakh, and all lounges having 4-12 seats. 
 
<a href="http://www.businessinsider.in/trends-thatll-define-the-future-of-mobile-gaming-industry/articleshow/57648983.cms">Games</a> and a library of interactive content from across several genres like drama, fiction, sci-fi, horror, action, etc would be parts of these lounges. 
 
Also read: <a href="http://www.businessinsider.in/DLF-to-sell-DT-Cinemas-to-PVR-for-Rs-500crore/articleshow/47603876.cms">DLF to sell DT Cinemas to PVR for Rs 500 crore!</a> 
 While the <keyword id="6359672" type="UNKNOWN" weightage="20" keywordseo="customers">customers</keyword> won’t have to pay anything to experience these lounges for the first 15 days, there would be a fee of Rs 100 per customer afterwards. 
 
(Image source: Twitter)

Ten virtual reality lounges to be launched by PVR

Best 49 inch and 50 inch smart LED TVs in India for 2023

It all started four years back when<a href="http://www.businessinsider.in/searchresult.cms?query=dlf&amp;sortorder=effectivedate"> DLF</a>, the country’s largest real estate developer realised after a survey that a gap existed in the Delhi- NCR market when it came to<a href="http://www.businessinsider.in/searchresult.cms?query=malls&amp;sortorder=effectivedate"> malls</a> with an international standard. 
 
Having delivered successful <a href="http://www.businessinsider.in/searchresult.cms?query=retail&amp;sortorder=effectivedate">retail</a> projects in the city such as <keyword id="6362997" type="CITY" weightage="20" keywordseo="DLF">DLF</keyword> Promenade, DLF Emporio and DLF Place Saket, the company had a fair idea of what it was getting into. 
 
But what could make or break a project of this nature was its location. 
 
“Our research showed that the wallet power of the people residing in and around<a href="http://www.businessinsider.in/searchresult.cms?query=noida&amp;sortorder=effectivedate"> Noida</a> was exceptionally high. Once we knew this, the next step was obviously to zero in on the exact location. We settled with <keyword id="18858" type="COMPANY" weightage="20" keywordseo="Noida">Noida</keyword> Sector 18 as it is the mouth of Noida and also because we decided to look at the location through drivetime. The location would thus attract people not only from Noida and East Delhi but also from Greater Kailash, Defence Colony and even South Delhi,” said Pushpa Bector, Executive Vice President of DLF. 
 
And, thus began the work for India’s first destination mall and the country’s largest mall, spread over a whopping 2 million sq feet and is 95 percent leased out housing over 330 brands. 
 
When asked what they mean when they call <a href="http://www.businessinsider.in/searchresult.cms?query=mall+of+india&amp;sortorder=effectivedate">Mall of India</a>, a ‘destination mall,’ Sriram Khattar, CEO DLF Rental Business, is quick to respond, “We didn’t want to create just a mall. With <keyword id="6396861" type="UNKNOWN" weightage="20" keywordseo="Mall-of-India">Mall of India</keyword>, we wanted to create an experience,” adding that people don’t come to mall just to shop or watch a movie- they come for a holistic experience. And, that is exactly what they intended to give people with Mall of India. 
 
To achieve that, the duo completely transformed the traditional structure of a mall by not only building a mall with six floors, but also having stores beyond the third floor. “The common notion is that retail stores after the 3rd floor won’t work. Thus, the biggest challenge was to convince people to go to the top and then work their way down.” explains Pushpa Bector. 
 
 
 
Additionally, they also made use of the concept of ‘zoning,’ a first for any mall and divided the six floors of MOI into five zones in order to make the mall experience a lot more convenient. They also roped in quality international brands, some of whom even have flagship stores at MOI. 
 
Thus, Mall of India which opened its doors last year in December but officially launched yesterday, is divided into five zones- The Lower Ground Floor is christened as the ‘Market Place’ and comprises the hyperlocal markets such as Big Baazar etc. 
 The Second floor, or the ‘High Street,’ houses all the anchors, while the Ground and First Floor which are called the ‘International Boulevard’ and they comprise the best of International fashion and beauty brands such as ZARA, <keyword id="3341452" type="UNKNOWN" weightage="20" keywordseo="HM-">H&amp;M,</keyword> Marks and Spencer etc. 
 
The Third floor, which is the ‘Family World’ houses a zone for kids and also has casual dining options that include 20 restaurants offering popular cuisines. 
 The Fourth and Fifth Floor which is named the ‘Leisure Land’ offer the largest indoor entertainment zone of the country, as a result of DLF understanding the huge need for quality entertainment in the area. From <keyword id="3341450" type="UNKNOWN" weightage="20" keywordseo="Smaash">Smaash</keyword>, <keyword id="3341451" type="UNKNOWN" weightage="20" keywordseo="Ski-India">Ski India</keyword> (modelled after Ski Dubai), to the in-house DT Cinemas and the massive food court, the Mall of India is going to be one fun affair. 
 
And, all the effort seems to have paid off. “Malls this large usually take around 12-18 months to stabilise. We have done the same in under 4-5 months,” claims Khattar. 
 
He further adds that the one-year goal is to get over one million footfall per day. At the moment, the mall sees a footfall of approximately 30,000 per day. 
 
According to Khattar, the Mall of India has also provided employment opportunities to over 6,000 people- whether directly and indirectly and all of the people employed by DLF for Mall of India are focused on making the mall a quality experience where one can spend the whole day. 
 When asked about whether having three <keyword id="45856" type="UNKNOWN" weightage="20" keywordseo="Malls">malls</keyword> in the vicinity bothered them, Pushpa Bector adds that it’s not the first time they have had competition. “DLF Promenande is right next to Citywalk Saket but that has not impacted our business at all. We’re very confident of Mall of India,” she signs off. 
 
The mall is expected to generate about Rs 250 crore of just rental income for the realty firm annually.

You Searched For "DT Cinemas" and got 4 results

DLF to sell DT Cinemas to PVR for Rs 500 crore!

BI India Bureau

Ten virtual reality lounges to be launched by PVR

BI India Bureau

Best 49 inch and 50 inch smart LED TVs in India for 2023

Rahul Verma

EXCLUSIVE: How DLF gave the country Mall of India, its first destination mall

Poulomi Das

Popular Keywords

Buying Guides