Glitz Cinemas to add 28 new screens by next fiscal
"With a total investment of Rs 75 crore, Stargaze will stand at 50 screens across 17 locations, covering almost 3,50,000 sq ft of retail mall space and reaching 5 million captive customers," it said in a statement here.
"Our expansion plans are in line with our vision to deliver international cinematic experience in smaller cities, where there is a huge growth potential," Stargaze Entertainment founder and managing director Sumant Bhargava said.
The firm will offer a total number of 12,000 seats and hire more than 1,000 people for this. The company has invested about Rs 45 crore for setting up these 22 screens and had a turnover of Rs 13.25 crore last fiscal. The company is funded by Capital18, the private equity arm of the Network18 Group promoted by Raghav Bahl.