Devyani International Partners with PVR Inox to Operate Food Courts in Shopping Malls

Cinema operator PVR Inox has joined hands with food operator Devyani International by entering into a shareholders’ agreement to incorporate a new company for developing and operating food courts in shopping malls.

Devyani and PVR INOX shall invest in the share capital of the proposed company in the ratio of 51:49, respectively, shared the stock exchange filing.

“We are elated to have embarked on yet another association with PVR INOX and elevated our collaboration,” shared Ravi Jaipuria, Non-Executive Chairman, Devyani International Ltd.

Sharing his excitement on the partnership, Ajay Bijli, Managing Director, PVR Inox, 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.”

Devyani International on Tuesday reported a consolidated net loss of ₹48.95 crore in the fourth quarter ended March 31, 2024. The stock traded at ₹156.20 on the NSE as of 2.27 pm, up 0.55 per cent. Whereas, PVR Inox stock traded at ₹1,289 on the NSE, down by 2.02 per cent.

Devyani is one of the largest franchisee of KFC, Pizza Hut and Taco Bell in India. It also operate Costa Coffee chains in India.