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More news about Cineline
29Mar 25
Cineline India Sells Hotel Asset for ₹270 Crore, Becomes Debt-Free and Focuses on Film Exhibition Business
Cineline India has sold its 'Hyatt Centric' hotel in Goa for ₹270 crore, reducing debt by ₹120 crore at the subsidiary level. The company plans to use the proceeds to repay its ₹108 crore debt in the film exhibition business, achieving debt-free status. This move allows Cineline to focus on expanding its core film exhibition business, operating under the brand 'MovieMAX'. Currently, it has 77 screens across 21 properties in 6 states, with plans for 82 more screens. The company expects to save ₹22 crore annually in debt servicing costs, supporting its expansion plans through a capital-light, revenue-share model.