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Rajiv Gupta, managing director of Wave Group, stated that audiences have returned to cinemas and the competition from OTT platforms cannot replicate the cinema experience. The Wave Group plans to invest Rs 100 crore to add 35 screens to its existing 10 multiplexes and 42 screens.

Wave Group has businesses across verticals such as commercial and residential real estate, malls and multiplexes, residential township & land development, infrastructure, sugar manufacturing, beverages, power, education, entertainment, sports, and agriculture.

"We have identified 7-8 more properties where 35 screens will be added shortly. We are going to invest around Rs 100 crore on this expansion," said Wave Group Managing Director Rajiv Gupta.

Wave Group on September 27 had launched a premium 7-screen multiplex Wave Cinemas at M3M Urbana Premium at Sector 67 in Gurgaon.