A Food-First Leader Steps Into a Rs. 2,000-Crore Business
When Dinesh Hariharan joined PVR INOX as Senior Vice President – Food & Beverages, it marked a significant leadership move for India’s largest cinema chain at a time when food has emerged as one of the most critical drivers of value in the multiplex business. No longer confined to popcorn counters, cinema F&B today operates at the intersection of hospitality, QSR, FMCG, and experiential dining—and PVR INOX’s food business has quietly grown into a national platform nearing Rs. 2,000 crore in annual revenue.
Hariharan’s appointment signals a sharper, more deliberate focus on food as a standalone business vertical—one that demands operational depth, culinary understanding, and scalability across formats.
A Career Built Across QSRs, Retail Food, and Multiplex Kitchens
Hariharan brings over two decades of experience spanning quick service restaurants, retail food solutions, hospitality, and cinema food operations. Most recently, he served as Chief Executive Officer of Vaango at Devyani International, where he led the South Indian vegetarian brand within one of India’s largest QSR operating ecosystems. His role there centred on brand building, operational discipline, unit economics, and expansion—capabilities that translate directly into high-frequency food consumption businesses.
Before Devyani, Hariharan spent close to six years at INOX Leisure, rising from Deputy Vice President – Food & Beverages to Vice President – Food & Beverages. During this period, he was deeply involved in shaping cinema food operations across formats and geographies, managing scale while balancing speed of service, consistency, menu innovation, and cost efficiency in a time-bound consumption environment.
His earlier career included leadership roles at SPAR India (Max Hypermarket India) as Business Head – Food Solutions, where he oversaw in-store bakery, ready-to-eat, and private-label food categories. Prior stints at Oriental Cuisines (including The French Loaf bakery brand), Spencer’s Retail, and Reliance Industries strengthened his grounding in retail operations and hospitality management. Adding a global dimension, Hariharan also worked as a Chef de Partie with Norwegian Cruise Line, gaining exposure to international hospitality standards and large-format foodservice execution.
This breadth of experience positions him uniquely to lead a food business that now cuts across cinema halls, malls, delivery platforms, and FMCG shelves.
The Numbers Behind PVR INOX’s Food Business
The scale of the opportunity Hariharan steps into is substantial. In FY24, PVR INOX’s F&B revenue grew 21 percent year-on-year to Rs. 1,958.4 crore, outpacing ticket revenue growth of 19 percent. This performance underlined the structural strength of the food business, which increasingly contributes to margins and customer engagement.
FY25 brought challenges for the cinema industry due to a weak film content pipeline. F&B revenue declined eight percent to Rs. 1,733.5 crore, largely driven by a nine percent fall in admissions. However, the segment proved more resilient than ticketing, which saw a steeper ten percent decline. Importantly, consumer behaviour remained supportive, with spend per head rising 1.5 percent to Rs. 134 in FY25 from Rs. 132 in FY24.
The recovery became evident in FY26. Q1 FY26 saw F&B revenue surge 22.4 percent year-on-year to Rs. 491.9 crore, supported by improved content and an all-time-high spend per head of Rs. 148. Momentum continued into Q2 FY26, with F&B revenue reaching Rs. 588.2 crore. On an annualised basis, the food business now operates close to Rs. 2,000 crore, supported by PVR INOX’s footprint of 1,767 screens across 355 properties in 111 cities in India and Sri Lanka.
Moving Beyond Concessions: Food Courts and Pre-Ticketed Consumption
One of the most significant shifts in PVR INOX’s food strategy is its move beyond in-auditorium consumption. In May 2024, the company entered into a 51:49 joint venture with Devyani International to develop and operate branded food courts in shopping malls. The objective is clear: unlock pre-ticketed food consumption by serving mall visitors, not just moviegoers.
This strategy took a visible step forward in December 2025 with the launch of PVR INOX’s first food court in Leh, Ladakh, located at an altitude of 11,500 feet within India’s highest multiplex. Operated under a Franchise Owned Company Operated model, the food court features global QSR brands including KFC, Pizza Hut, Costa Coffee, and Vaango. The company plans to operate three to four food courts by the end of FY25 and scale this to eight to ten outlets during FY26.
Dine-In Cinemas and Premium Food Experiences
Alongside food courts, PVR INOX continues to invest in dine-in cinema formats that blend restaurant-style dining with movie viewing. These formats feature live kitchens, curated gourmet menus, and LED-enabled ambient lighting that allows food service without disrupting the cinematic experience. Premium formats such as Director’s Cut and Insignia rely heavily on differentiated food offerings to drive higher spend per head and repeat visits, making F&B central to the premiumisation strategy.
FMCG, Delivery and the Rise of Cinema Food Brands
PVR INOX’s food ambitions extend beyond physical cinema locations. Its gourmet popcorn brand, 4700BC, has emerged as a significant FMCG play, recording revenue of Rs. 102 crore in FY25 with 35 percent year-on-year growth. The brand is expanding across general trade, modern retail and quick-commerce platforms, creating a revenue stream independent of box-office performance.
Digital delivery is another area of focus. The company has an active partnership with Zomato and is exploring deeper engagement with Swiggy to grow online food delivery, extending the reach of cinema food beyond theatre walls.
The Road Ahead for Cinema Food in India
As Senior Vice President – Food & Beverages, Hariharan’s mandate spans execution excellence, innovation, scalability, and cross-format consistency across PVR INOX’s existing footprint and planned expansions. His appointment reflects a broader industry reality: food is no longer ancillary to cinema—it is a strategic business that shapes profitability, differentiation, and long-term resilience.
For the Business of Food ecosystem, PVR INOX’s evolving F&B model—spanning multiplex concessions, dine-in formats, mall food courts, FMCG brands, and digital delivery—offers a compelling blueprint of how entertainment-led platforms are transforming into diversified foodservice businesses. With Hariharan at the helm, cinema dining in India appears poised to enter its next phase of structured, scalable growth.
