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Mar, 16 2018

Speciality Restaurants Plans 8-12 New Outlets With Rs 40 Cr Investment

With brands like Mainland China, Sigree, Machaan, Haka, Cafe Mezzuna, and many others, Speciality Restaurants Ltd has always remained the priority of the its loyal customers.

In a process to consolidate business, Speciality Restaurants Ltd, a leading chain of fine and casual dining in India is planning to invest Rs.40 crore in the next two years to open new restaurants.

With brands like Mainland China, Sigree, Machaan, Haka, Cafe Mezzuna, and many others, Speciality Restaurants Ltd. has always remained the priority of the its loyal customers.

The debt-free company, which had currently 125 restaurants and confectioneries, plans to make this investment from its internal accruals

Anjan Chatterjee, Founder and Managing Director, Speciality Restaurants said, “We will be investing around Rs 40 crore over the next two years to open new restaurants as well as consolidating of existing restaurants. We intend to open 8-12 new restaurants in the next 18 months,”

The debt-free company, which had currently 125 restaurants and confectioneries, plans to make this investment from its internal accruals, he said at the celebrations of 25 years of its journey.

He said, “Apart from presence across India, we have one restaurant in Colombo, two in Dhaka, two in Tanzania, one in Doha, and we are opening one in Dubai next month.”

The company clocked revenue of Rs.229.44 crore in the April-December period of the current fiscal and its turnover was at Rs.317.66 crore in 2016-17.

Chatterjee also said that the restaurant industry has been singled out by removal of the input tax credit in the Goods and Services Tax (GST) regime and such move has restricted the restaurant industry’s growth prospects.

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