PVR Inox is seeing a strong box office revival, led by the blockbuster opening of Dhurandhar 2, with Executive Director Sanjeev Kumar Bijli calling the response "phenomenal." The film, which released with paid previews across 8,000 screens, has already grossed Rs 35-40 crore in early shows, followed by a Rs 65-70 crore opening day haul at the domestic box office.
The strong start has put the film on track to potentially match-or even surpass-the first installment's Rs 800-850 crore lifetime collections. The company is now eyeing the ambitious Rs 1,000 crore milestone, which would mark a significant achievement for a Hindi film.
Q4 Gets a Late Boost After Tepid Start
The strong performance comes as a much-needed lift for PVR Inox's fourth quarter, which saw muted box office activity in January and February. While earlier releases offered limited traction, Dhurandhar 2's late entry into March is expected to meaningfully support quarterly performance.
Bijli noted that while Q4 may not be "overwhelming," it is likely to close as a "decent quarter," especially when seen in the context of a strong FY26 overall. The company benefited from solid content in earlier quarters, including major releases across Hindi and regional cinema.
For the full year, PVR Inox expects total admissions to come in at around 150 million, depending on how strongly Dhurandhar 2 sustains its run. Occupancy levels, while still below pre-COVID highs of 30-32%, are gradually improving and are expected to close at around 27-27.5% this year. The company has been adding screens in high-growth markets, particularly in South India, where occupancy levels are stronger. New multiplexes in cities like Hyderabad, as well as expansion into smaller towns such as Muzaffarpur and Leh, are expected to drive incremental growth.
OTT Competition Stabilises
Addressing concerns around OTT competition, Bijli said the industry has reached a "balance," with an eight-week theatrical window now firmly established. While streaming platforms saw a surge during the pandemic, cinema viewing has since stabilised, with big-ticket films continuing to draw audiences to theatres.
He likened the dynamic to "eating in versus eating out," suggesting both formats now coexist with distinct consumer bases.
Looking ahead, PVR Inox is banking on a robust film slate to sustain momentum. Big-ticket releases such as Ramayan, King, and Lahore 1947, alongside regional and Hollywood films, are expected to keep footfalls strong through the year.
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