Source: Equity Bulls
Daijiworld Media Network – Mangalore (NR)  

Mangalore Dec 11: An Expression of Intent (EOI) has been inked between M/s. Prestige Estate Projects Pvt Ltd, Bangalore and PVR Limited for setting up multiplexes in the upcoming malls of the city. The former Messrs Prestige is a leading developer of southern India and they are credited with transforming the skyline of Bangalore city. This announcement was made by PVR Ltd, the Company which informed that the EOI was executed on December 10, 2007. 
 
Messrs Prestige, the 'Developers' is fast expanding with commercial and residential developments in the cities of Hyderabad, Chennai, Cochin, Mangalore, Goa and other part of southern India and has plans to develop and construct shopping mall cum multiplex centres in these cities.

According to the Letter of Expression the Company shall be the multiplex operator for all upcoming malls of the Developers such as Whitefield and Shantiniketan in the city, Cochin, Hyderabad and Mangalore and other Southern cities of the country.

In fact, this is the first of its kind Joint Venture Collaboration (JVC) between a mall and cinema chain. With this strategic alliance, the Company will bring in their expertise to tap the synergies between the Company and Prestige to expand and further cement the Company's standing in the movie exhibition space.

With this JVC, PVR Limited, the Company now aims to consolidate and further strengthen their association with movie buffs by making their presence felt across newer horizons of Southern India.