SRPL aims at Rs350cr turnover

Kolkata-based Speciality Restaurants Private Limited (SRPL), having brands like Oh Calcutta, Sigree and Mainland China, is targeting a turnover of Rs 300-350 crore this fiscal, from Rs 200 crore last year on the back of major expansion plans and increased focus on international footprint.

The company is planning to open 22 more standalone restaurants by the end of this financial year and expand its international footprint as well. Of the 22 new restaurants, 12 -13 will be through the franchisee route and the rest will company owned.

"Along with increasing the number of restaurants in the domestic and international markets, our aim is also to increase our turnover to Rs 300-350 crore from the present Rs 200 crore by the end of this financial year," said Anjan Chatterjee, managing director of SRPL.

The company achieved a turnover of little less than Rs 200 crore in 2008-09, which was 12-15 per cent short of its target because of the slump period in November-December caused by the terrorist attacks in Mumbai, pointed out Chatterjee.

"We will be looking at more acquisitions and more of inorganic growth this year." he added.

SRPL would be adding 22 more restaurants in India, and would also start restaurants through the franchisee route in North America and Canada within the next six months.

“We feel that this is an opportune time for expanding our international footprint with established brands like Oh Calcutta and Mainland China. The property prices internationally are at an all-time low and rentals are pretty attractive,” he pointed out.

SRPL is in talks with many international food chains and is close to signing up franchisee agreements for its new outlets in North America.

In London, SRPL plans to expand its existing Oh Calcutta and in South Africa it plans to open a new restaurant. But plans for South Africa have not been confirmed as yet," Chatterjee pointed out.

Oh Calcutta would be launched for the North America and Canada markets. In the domestic market it would be a mixture of all the brands for new launches but Mainland China would account for 60 per cent.

The 22 new restaurants would be located in tier II cities, out of which four-five would come up in the east, Chatterjee said.

The group has also ventured into outdoor catering with a total investment of Rs 100 crore.“We have set up our infrastructure for outdoor catering business in Sankrail, spread over three acres, but for now we have developed only one acre and spent Rs 20 crore," he said

"We want to tap the thousands and thousands of crores outdoor catering business market in the country and hope to do Rs 1,000 crore in the next five years," he added. The Speciality Group of restaurants has under it brands like Oh Calcutta, Sigree, Machan and Mainland China. The group has 52 restaurants all across the country, at present.