Paradise aims to grow 10-fold, go global
Hyderabad: Hyderabad-based Paradise Food Court, one of the largest biryani chains in the world, is ramping up its operations and plans to go global by 2024 and expand 10-fold by opening 500 company-owned restaurants pan-India by 2026-27. The company which has 50 restaurants in 13 cities in six States of India plans to add another […]
Hyderabad: Hyderabad-based Paradise Food Court, one of the largest biryani chains in the world, is ramping up its operations and plans to go global by 2024 and expand 10-fold by opening 500 company-owned restaurants pan-India by 2026-27.
The company which has 50 restaurants in 13 cities in six States of India plans to add another 50 by the end of 2022. It has added eight outlets in just the last four months, despite pandemic challenges.
The company is aiming to clock revenues of over Rs 2,000 crore by 2027. It will be roughly investing about Rs 1.2-Rs 1.4 crore per restaurant. And for the cumulative investment it will be making for its expansion, 75 per cent of the funding will be met through internal accruals and 25 per cent will be through external funding.
Gautam Gupta, CEO of Paradise Food Court told Telangana Today, “We are seriously looking at overseas opportunities and we would formalise our plans within the next 24 months. We have identified North America, Europe, Middle East, and Southeast Asia. We will tap locations where there is a large Indian diaspora.”
Of the 500-restaurant target set for 2026-27, the company plans to have 100 restaurants in Telangana (including Hyderabad) and Andhra Pradesh in the first phase, 100 restaurants in Tamil Nadu, Karnataka, and Kerala in the second phase, 100 outlets in eastern India including Kolkata, and 200 in northern and western parts of India in the following phases. The company also plans to make inroads into potential tier-2 and tier-3 cities pan-India.
When asked if the company is exploring new formats such as opening restaurants in co-working spaces, he said, “We are exploring new opportunities to expand our presence. We have looked at malls. We are opening our 51st restaurant in Sarath City Capital Mall in Hyderabad on February 14. Co-working and large corporate offices also offer a significant opportunity, which we are open to explore.”
“Over the years, Paradise has become an integral part of Hyderabad’s culinary culture and history as we host guests from across the world. We have been regularly complimented by our guests stating that a visit to Hyderabad is never complete without a meal at Paradise. This love has prompted us to expand our footprint across the length and breadth of the country to ensure the foodies relish Paradise Biryani. We have put together an aggressive expansion plan of taking our biryani chain to the 500 restaurants mark,” Gupta added.
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