New Delhi-based restaurant chain operator Azure Hospitality Pvt. Ltd., is planning to open 65 restaurants over the next three years by investing ₹172 crore.
Azure Hospitality, which has 35 restaurants through six brands in major cities, plans to open more outlets in select Indian cities and in the U.K. organically and through acquisitions.
“We are planning to add 15 to 25 restaurants each year. The investment in each outlet will be about ₹2.60 crore. Some of them will be on franchise basis. Besides, we are also entering London and Manchester this year. We are planning to create new brands through organic way and by way of acquisitions,” said Rahul Khanna, co-founder, Azure Hospitality Pvt. Ltd.
Started by Rahul Khanna and Kabir Suri, Azure is backed by Goldman Sachs and Max Ventures. The restaurants are located at New Delhi, Gurugram, Mumbai, Bengaluru, Kolkata, Chennai and Hyderabad. Mamagoto is a pan Asian casual dining restaurant, Rollmall and Speedy Chow are the Quick Service Restaurants, Dhaba by Claridges is a Punjabi Dhaba, Mamapaati is into catering and Sly Story’s is a new offering.
Mamagoto entered Chennai during December 2015, while Dhaba by Claridges made its entry quite recently. Sly Story was opened recently in Hyderabad.
“Till date, we have raised ₹20 million and that would be sufficient for us for some more time. Last year, we clocked a income of ₹45 crore and this year, it would be ₹110 crore. Some of the restaurants were opened during the year and if we take its operations for 12 full months, then the revenue run rate will be ₹170 crore,” Mr. Khanna said.
“While the Indian food service industry is de-growing, we are personally happy that we are able to post positive growth. By March 2018, we hope to earn revenues of ₹220 crore,” he said.
