Salman Khan starrer 'Kick' set to enter Rs 300 crore club?

Mumbai, May 12: Superstar Salman Khan on Tuesday released his latest romantic single "Tere Bina" featuring Jacqueline Fernandez while in quarantine at his Panvel farm house.

The actor, along with close family and friends from the industry, including Iulia Vantur, Waluscha De Sousa, is living in the farm house. This is the second song Salman has released amid the coronavirus pandemic, after "Pyaar Karona."

"About seven weeks ago, when we came to the farm, we didn't know we will be here under a lockdown. So we wanted to do things to keep ourselves busy. That's when we decided to do these songs. We launched 'Pyaar Karona' and now, we are launching 'Tere Bina'," Salman said in a statement.

The song, sung and directed by Salman, is composed by his friend Ajay Bhatia and written by Shab bir Ahmed.

The actor said he had the song "Tere Bina" with him for quite a while but because it wasn't fitting into any of his film, he decided to release it now.

Jacqueline said she didn't think they would be able to shoot the song, which they finished in four days of evening shoots, with such limitations.

"We are used to shooting songs on a large stage with grand production costs. There are costumes, hair, make up. All of a sudden, we find ourselves with a team of three people. For the first time, I was checking lighting and moving props around. It was a great experience and it taught us how to make the most of what we have," she said.

Salman recently sent out food packets and ration from his farm house to those affected by the lockdown.

New Delhi, Jun 9: Multiplex operator PVR on Monday said it has cut salary across various levels, laid off employees and deferred increments during the lockdown to mitigate adverse impact of COVID-19 on the business.

The company said at present it is not generating any revenue from exhibition business and related activities as cinemas across the country are shut following the directions from the regulatory authorities.

According to the company, closure of screens during the lockdown will have a significant negative impact on profitability and liquidity.

PVR has taken measures to reduce its personnel cost, including salary cuts across various levels in the organisation during the lockdown along with "reduction in headcount by way of layoffs/retrenchment" to mitigate the adverse impact of COVID-19 on the business.

Moreover, the board of the company, in its meeting held on Monday has also approved plan to raise Rs 300 crore through rights issue.

"Since Cinema Exhibition is the only business segment, company is currently not generating any revenue from admissions, food and beverage sales or other revenue and cash flow from operations," said PVR in an update.

Beginning from March 11, PVR started closing its screens in accordance with the order passed by various regulatory authorities and within a few days most of our cinemas across the country were shut down, it added.

The company will continue to incur committed cash outflows, including employee salary pay-outs, other overheads as well as payments for older working capital.

"This has and will have a significant negative impact on profitability and liquidity during lockdown and even thereafter till business comes to normalcy," it added.

Further, once the cinemas are re-opened, we may not be able to run our cinemas at normal capacity utilisation levels on account of social distancing measures that cinemas may be required to follow as well as health concerns that the patrons may have, the multiplex operator said.

"On account of this, our revenue and cash flow generation may be impeded even once we are allowed to restart operations," it added.

The company has also deferred decision on on increments to reduce its cost, it added.

PVR has also written to developers for waiving rental and CAM (Common Area Maintenance) charges for the lockdown period.

It is in discussion with developers for reducing rentals post re-opening and has invoked force majeure clause in its agreements with them.

Besides, the company has raised additional borrowings from existing bankers to shore up liquidity.

"As of March 31, 2020 the company had cash and bank balance of Rs 316 crore. As on June 7, 2020 cash and bank balance is Rs 227 crore (including undrawn bank lines)," it added.

Over reopening of theatres, PVR said that the government has come out with a phase-wise schedule.

In these guidelines cinema halls have been kept in the third phase of re-opening, where dates will be decided based on assessment of the situation.

"We are in continuous engagement with all regulatory authorities and hope to receive the necessary permissions for restarting opening in the near future," it added.

Currently PVR operates 845 screens in 176 properties in 71 cities.

Mar 11: The shooting of Radhe: Your Most Wanted Bhai has been completed, and the film will now release on schedule.

If one recalls, the film went on the floors in the first week of November 2019 and was supposed to be Salman’s fastest completed film. However, the movie faced a variety of roadblocks — It was first to be wrapped in the first week of February, “But Salman went off to his Panvel farmhouse after the release of Dabangg 3 and spent a while there ushering in his birthday,” a source reveals.

“Then, the extension of the show Bigg Boss 13 by five weeks also turned out to be another speed breaker. Then, Salman wanted to make sure that the film was being made as good as what his audiences wanted on Eid. He made sure that his director Prabhudeva got what he wanted from the performers and didn’t want to rush him.

"Additionally, the Azerbaijan schedule of the film also got cancelled as Salman did not want to take any chances with the cast and crew with the lurking Covid 19, and rescheduled the shoot in India. This is now complete, barring any patchwork that might emerge later,” our source adds.

Radhe is slated to be an Eid release, which will clash with Akshay Kumar’s Laxmmi Bomb.