Cineline India Ltd, a part of the Kanakia Group, has entered the Chennai market with the launch of a two-screen multiplex under its MovieMax Cinemas brand, marking its maiden foray into the city.
With this addition, MovieMax Cinemas now operates 85 screens across 22 properties in 16 cities, with a seating capacity exceeding 20,000. The company said it aims to deliver a premium cinema experience backed by advanced technology and curated food and beverage offerings.
Strengthening pan-India footprint
“Our entry into Chennai marks an important step in strengthening our pan-India presence. With this launch, we have expanded our portfolio to 85 operational screens across the country. We are confident that this premium offering, supported by advanced technology and curated F&B, will resonate strongly with the evolving preferences of today’s cinema audiences,” said Ashish Kanakia, CEO.
The company recently turned debt-free after monetising its hotel asset, Hyatt Centric Goa, for an enterprise value of ₹270 crore. The move is part of its strategy to sharpen focus on its core film exhibition business.
Capital-light expansion strategy
Cineline said the surplus funds from the transaction would be deployed towards expanding its exhibition footprint. Its growth strategy going forward will be anchored around a capital-light, revenue-sharing model.
Under this approach, new screens will be added through partnerships, reducing upfront capital commitments and improving return on capital. The company believes this model will position it well to benefit from an improving box-office cycle and long-term growth opportunities.
The Chennai launch reflects the company’s continued focus on expanding into key metropolitan markets with differentiated, experience-led cinema formats, Kanakia said.