AMB Cinemas is delivering on its promise of quality and cinematic excellence by partnering with the gold standard in premium exhibition. The Narang family and co-owner Mahesh Babu are bringing world-class technology to Hyderabad audiences just in time for a landmark release.
Insiders note Giovanni Dolci's careful non-answer when pressed on Imax acquisition rumors—and the timing of this deal right before 'Varanasi' drops feels calculated. Sources say exhibitors who once dismissed Imax as only viable for top-tier venues are now scrambling to get in before the market hits its tipping point.
India posted its best-ever Imax box office year in 2025 at $25.6 million, with same-store locations up 44% year-on-year through April 2026—before 'Varanasi' even opens. Hyderabad's last Imax venue closed in 2015 when Prasads Imax shuttered after years as a landmark in the company's international expansion.
This isn't just about one cinema reopening—it's a calculated power move. With Rajamouli's track record and India's explosive Imax growth, whoever controls premium screens controls the conversation.
Imax Corporation and Asian Cinemas have struck a deal for three new Imax with Laser locations in India through the AMB Cinemas brand—and the first one couldn't be coming at a more dramatic moment. The AMB Classic venue in Hyderabad is targeted to open before the end of 2026, strategically timed ahead of "Varanasi," the S.S. Rajamouli-directed film starring Telugu superstar Mahesh Babu that the company is already calling one of its marquee releases for 2027.
Two additional locations are slated for 2028, but make no mistake: this first opening is about making a statement. Giovanni Dolci, chief commercial officer of Imax, sat down with Variety and was pressed on the recurring speculation about a potential sale of Imax—and his answer was revealing in what it didn't say. "What you're seeing is a function of Imax becoming more and more prominent, and quite honestly, a lot of cohorts paying way more attention to us than happened before," Dolci said, declining to address reports directly but acknowledging the broader dynamic they reflect.
"International growth is certainly a driver of that attention and of that relevance." Translation: Imax is hot property right now, and this Hyderabad deal is Exhibit A of why acquirers are circling. Hyderabad's previous Imax presence ended in 2015 when Prasads Imax—one of the first Imax venues in India and a landmark in the company's international expansion—closed its doors. Dolci didn't hide his frustration about the gap.
"Hyderabad is critical because it was one of the key cities where we didn't have an offering," he told Variety. "We have a duty and a commitment to bring Imax to as many audiences as we can, and when I hear about people traveling hours to go to an Imax venue, part of me is happy because it's underscoring the demand—but the other part of me is thinking, what the hell are we doing?" That's not corporate-speak—that's a man who knows he has ground to make up.
The numbers backing this expansion tell their own story. India has ranked among Imax's top 10 markets for the past decade, with the country's network expanding by nearly 60% since 2020 to 34 open commercial locations today—with at least four more expected to open this year alone. The market posted its best-ever box office year in 2025 at $25.6 million, including nearly $8 million from international content, and supported a record 11 Indian-language releases on Imax screens.
Performance has continued climbing in 2026: same-store locations were up 44% year-on-year through the end of April. "That's even more surprising when you think that 2025 was already a record year," Dolci noted. Rajamouli's involvement is the gravitational center of this entire play.
His last two films—Academy Award winner "RRR" and "Baahubali: The Conclusion"—are the two highest-grossing Indian films in Imax history globally, full stop. "S.S. Rajamouli is certainly one of our key global relationships now that spans way beyond India," Dolci said.
"Varanasi," shot using Imax-certified digital cameras, represents the next chapter of that partnership—and the Hyderabad opening is designed to ensure audiences there can experience it the way Rajamouli intended. AMB Classic itself reads like a who's-who of Telugu cinema power players. The venue is a joint partnership of Asian Cinemas—managed by Sunil Narang, Bharat Narang, Jyesth Narang and Simran Narang—alongside Mahesh Babu Ghattamaneni, Venkatesh Daggubatti, Suresh Daggubatti, and Rana Daggubatti.
That's a lot of star power in one room, all aligned on the same bet: that premium theatrical experiences are worth fighting for. "Hyderabad's appetite and love for cinema is unparalleled, and bringing back the prestigious Imax format to Hyderabad is a matter of great honour and pride for AMB Cinemas," said Sunil Narang and Bharat Narang in a joint statement. "AMB Cinemas is a brand that stands for quality and cinematic excellence—collaborating with Imax feels like the perfect step in our bid to continually provide our audiences with the best of the best." All three new locations will be equipped with Imax with Laser, delivering 4K images, proprietary audio, and a custom optical engine—the company's most advanced presentation system.
The question isn't whether this deal matters. It's whether competitors can catch up before the format becomes table stakes.
