The packed snack chain brand to to invest Rs 250 crore by FY\'16 on expansion.
Food and packed snack chain Bikanervala plans to invest up to Rs 250 crore over three years to open more restaurants and increasing production capacity.
Mr. Suresh Goel, CEO, Bikanervala Foods Pvt Ltd said "We are expanding very fast and we will invest up to Rs 250 crore by 2015-15 to increase our production capacity and to open our restaurants.”
The company will invest up to Rs 150 crore adding 60 new restaurants; it already has 40 restaurants in India, spread across north India, Ahmedabad and Hyderabad. While the rest, Rs 100 crore, will be used at a plant in Haryana. It will also set up a new plant that is expected to come up in Greater Noida.
Mr. Goel further added "Now we plan to open our restaurants in other parts of the country. Currently, we are mostly operating in north India. New restaurants will be mix of company owned and franchised outlets. Every year we will add 10-12 new restaurants."
The company is targeting up to 30 per cent growth in the turnover of its packed food division and up to 15 per cent growth in restaurant turnover.
Bikanervala is also looking at ramping up export earnings to 25 per cent of the total sales by FY'16. At present, exports account for about 15 per cent of overall sales looking at new export markets, such as the neighbouring as well as South East Asian countries. It exports its packed foods to 70 countries.
Bikanervala is also upbeat about upcoming festive season. It is targeting up to 40 per cent of its annual turnover from the festive season sales. It is coming out with 17 'Diwali' gift packs ranging from Rs 120 to Rs 670.