Imax Corporation and Asian Cinemas have struck a deal for three new Imax with Laser locations in India through the AMB Cinemas brand – with the first set to open at AMB Classic in Hyderabad, the luxury cinema co-owned by Telugu superstar Mahesh Babu, ahead of the release of “Varanasi,” the S.S. Rajamouli-directed film in which Babu stars.

The deal arrives amid recurring speculation about a potential sale of Imax. Giovanni Dolci, chief commercial officer of Imax, declines to address the reports directly but acknowledges the broader dynamic they reflect. “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,” he tells Variety. “International growth is certainly a driver of that attention and of that relevance.”

Two of the three new locations will be in Hyderabad – the capital of Telangana state and the hub of Telugu-language filmmaking. The AMB Classic venue is targeted to open before the end of 2026, with two further locations slated for 2028.

Hyderabad’s previous Imax presence ended in 2015 when the Prasads Imax location – among the first Imax venues in India and a landmark in the company’s international expansion – closed. Dolci says the the city’s absence was one Imax had long been eager to address. “Hyderabad is critical because it was one of the key cities where we didn’t have an offering,” he says. “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?”

The timing of the opening is deliberate. “Varanasi,” shot using Imax-certified digital cameras, is among the company’s marquee releases for 2027. “We are targeting with Asian Cinemas the opening of the first location in Hyderabad to make sure that we can offer that experience to audiences there,” Dolci says.

Rajamouli’s last two films, Academy Award winner “RRR” and “Baahubali: The Conclusion,” are the two highest-grossing Indian films in Imax history globally. “S.S. Rajamouli is certainly one of our key global relationships now that spans way beyond India,” Dolci says.

“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, managing directors of AMB Cinemas. “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.”

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. 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 in Imax. Performance has continued to climb 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 says.

“2025 was our best year ever at the box office in India – powered by a dynamic slate of Hollywood and Indian films – and our strong performance is driving demand among new and existing exhibition partners in the region,” said Rich Gelfond, CEO of Imax.

The 2026 slate contributing to that momentum includes “Dhurandhar 2” – the highest-grossing Indian title for Imax in the local market this year – and “Project Hail Mary,” the fifth-biggest title in the market to date. The upcoming pipeline includes “The Odyssey” from Universal/Syncopy and “Dune: Part Three” from Warner Bros./Legendary, alongside “Varanasi.”

Dolci attributes the growth to a content mix that crosses language lines rather than relying on any single source. “It’s about having a slate that appeals to as many audiences as possible, that is diverse, that offers many titles,” he says. “It’s not just about content, though – the quality of the locations and the growth of that have contributed to that success.”

The expansion comes at a moment when Dolci believes Imax is approaching an inflection point in India. The company has 10 additional locations in backlog beyond its 34 open venues but sees the market as capable of supporting multiples of its current footprint. He points to Japan’s 60-plus locations and China’s more than 800 as reference points. “I think we’re reaching a tipping point,” he says. “You have a slower steady growth until you reach a tipping point, and then that growth gets supercharged.”

Part of what drives that dynamic is a multiplier effect among exhibitors. As Imax spreads beyond tier-one cities, operators who once considered the format viable only for their top venues begin to see it working across a broader range of locations. Dolci describes the shift in exhibitor thinking: where operators once assumed Imax was viable only for their top 5% of venues, they are now finding it works across a much wider share of their portfolios.

The broader context is one in which premium formats have become a primary argument for theatrical attendance against improving home entertainment. Dolci says the post-COVID period reinforced rather than undermined Imax’s position. “When you leave home, you want to be sure that you’re getting something that has clear tangible value,” he says. “I do believe that we are a guarantee of quality, a seal of approval.” He argues that Imax’s involvement across the full value chain – from how films are selected for the format and shot, through post-production and marketing, to the auditorium technology itself – is what allows the company to guarantee audiences a consistent experience. “You could have the best possible auditorium, and you could have a person going in there to enjoy a movie, and it’s a terrible movie that has been shot badly, mixed in a terrible way – and that’s a problem,” he says.

Dolci also points to a structural shift in how filmmakers approach the format. Studios and directors are now securing Imax commitments as far as two years in advance, a marked change from even a few years ago. “Pretty much everybody knows who we are and what we do,” he says. “We have filmmakers and studios coming to us to secure a project for 2028 – two years away – which tells you that they’re thinking more and more with Imax in mind.”

On the five-year horizon, Dolci sees India climbing steadily within the global Imax ranking, driven by both network growth and the increasing international reach of Indian content. “The market is generating already incredible grosses with only 34 locations,” he says. “When we will multiply that number – because trust me, we will – it will become even more relevant.” He adds that filmmakers like Rajamouli carry an effect beyond their own output. “Talent like Rajamouli is not just about themselves – they inspire new generations of talent and filmmakers.”

All three new AMB Cinemas locations will be equipped with Imax with Laser, the company’s most advanced presentation system, delivering 4K images, proprietary audio, and a custom optical engine.

AMB Classic is a joint partnership of Asian Cinemas – managed by Sunil Narang, Bharat Narang, Jyesth Narang and Simran Narang – along with Mahesh Babu Ghattamaneni, Venkatesh Daggubatti, Suresh Daggubatti, and Rana Daggubatti.