Explore Business Standard
Fast Food Restaurants
India's restaurant sector has the potential to provide employment to 1.5 crore people by 2028, from 85 lakh at present, provided it gets the "right impetus" from the government including an 'industry' status and benefit of input tax credit on GST, National Restaurant Association of India's (NRAI) Vice President Zorawar Kalra said on Wednesday. The NRAI claims to represent 5 lakh restaurants across the country. The association has been at loggerheads with food delivery aggregators like Swiggy and Zomato primarily over the aggregators' foray into the quick-commerce space with their own private-label brands, arguing this move undermines fair competition and harms independent restaurants. "We don't have a separate industry status, that would be a big positive move, as it would give us a voice," Kalra told PTI. The NRAI Vice President, who is also the Founder and Managing Director of Massive Restaurants Pvt. Ltd, described the lack of input tax credit on GST as a "major issue" faced by t
Connaught Plaza Restaurants Pvt Ltd (CPRL), the master franchiser for McDonald's restaurants in India for north and east regions, has plans to invest up to USD 150 million (Rs 1,280.7 crore) in next three to four years for expansion of network of quick service restaurant outlets, said a top company official. It has plans to take the store count by 300 by the end of this year from its existing 245 and then double it in the next three to four years from there, as part of its aggressive expansion plans, said Anant Agarwal, Vice Chairman- MMG Group & CPRL. Besides, CPRL, part of USD 1.2 billion MMG Group, is also expanding McCafe, the in-restaurant caf brand of McDonald's, from its 125 outlets presently to 200 by the end of this year. The group, which acquired CPRL in 2020 following a bitter tussle between the Chicago-based QSR (quick service restaurant) major and its former Indian partner, is modernising the existing stores and upgrading them to the EOTF (experience of the future) ...
Quick service restaurant operator Devyani International Ltd on Tuesday reported a consolidated net loss of Rs 48.95 crore in the fourth quarter ended March 31, 2024, impacted by forex translation loss due to the devaluation of Nigerian currency. The company had posted a consolidated net profit of Rs 59.88 crore in the fourth quarter of the previous fiscal, Devyani International said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 1,047.08 crore as against Rs 754.98 crore in the corresponding period a year ago, it added. Total expenses were higher at Rs 1,057.32 crore as compared to Rs 724.77 crore in the year-ago quarter, it added. During the quarter ended March 31, 2024, and the year ended March 31, 2024, due to significant devaluation of the Nigerian currency, the Nigerian subsidiary of the group has recognised Rs 42.37 crore and Rs 89.7 crore devaluation impact on account of translation loss of USD denominated liabilities
Leading Quick service restaurant chain Pizza Hut, which had doubled its store count in the country to over 820 in the last two years, will continue its "aggressive expansion spree" with a significant commitment to expand its presence in emerging smaller markets, said a top company official. The company is focusing on 'Gen Z' and the growing middle class, which is moving up in the consumption ladder with an increased buying power, said Pizza Hut Indian Subcontinent Managing Director Merrill Pereyra. As part of the expansion, Pizza Hut is focusing on emerging markets in Tier II & III places, which now contribute 50 per cent of its business in India and aims to further harness the potential that exists here. In the first quarter ending March 31, 2023, Pizza Hut India Subcontinent clocked 16 per cent System Sales Growth. "In the last two years, we have doubled our estate. We have gone from 417 restaurants to 820. We plan to keep that expansion going. We believe in the country," ...
Civic authorities have earned Rs 5.44 crore as revenue from various restaurants and other establishments after norms for serving food in open spaces and terrace areas were relaxed, officials said on Sunday. According to the relaxed norms, owners are permitted to serve food in the open space adjacent to their licensed eating houses, subject to meeting certain conditions. The Municipal Corporation of Delhi (MCD), in a statement on Sunday, said it granted permission for use of 138 such open spaces and 57 terraces. The MCD has collected Rs 5.44 crore in revenue since the norms were relaxed, it said. Officials said this policy will also help promote tourism and job creation, adding that the MCD is continuously working towards augumenting its revenues. The erstwhile South Delhi Municipal Corporation (SDMC) had implemented a policy for use of open space abutting a licensed eating house and terrace for service or dining purposes. This policy has now been extended to the erstwhile North De