Devyani Intl & PVR INOX Partner for Food Courts in Malls

New Delhi, May 14 (PTI) Quick service restaurant operator Devyani International Ltd (DIL) and cinema exhibitor PVR INOX on Tuesday said they will jointly establish a company for development and operation of food courts within shopping malls in India.

This partnership will empower DIL and PVR INOX to reach a wider audience and expand their market presence, the two firms said in a joint statement.

"This partnership further consolidates DIL's position in the food courts business in India and has paved the way for additional growth and expansion opportunity...DIL is committed to expanding its food courts business in India as one of the strategic future growth pillars," DIL Non-Executive Chairman, Ravi Jaipuria said.

PVR INOX Managing Director Ajay Bijli said through this opportunity PVR INOX will be able to pivot into pre-ticketed F&B revenue stream as opposed to the current post ticketed F&B revenue that's very movie line-up dependent.

"It is our first of the many steps we intend to take to further expand our F&B business. Also, our ability to co-promote both movies and food to 150 million audience would be the USP of this collaboration," he added.