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Barbeque Nation looks to increase restaurant count by 30% in FY19

Press Trust of India  |  New Delhi 

Casual dining chain is looking to expand the number of restaurants by up to 30 per cent across the country in the current fiscal, a top said.

Apart from the growth in India, the company is also planning to open restaurants oversees, in Malaysia, the and

"We would be close to 25-30 per cent expected growth in terms of number of stores in the current fiscal year," Hospitality Ltd MD told

The restaurants will be opened in metros, tier I, tier II and tier III cities, he added.

While in metros and tier I cities, the outlets are of 4,500-6,000 square feet requiring an average investment of Rs 2.75 crore, for tier II and tier III cities the size is comparatively smaller, that is between 3,500-4,000 square feet, Dhanani said.

When asked about the expansion plans oversees, Dhanani said: "the company is in expansion mode in the and will also be shortly opening in in and in in "

The company already has three operational restaurants in the Middle East, by the end of this financial year it will have close to 8 to 9 restaurants there, he added.

On being asked about the proposed initial public offering (IPO), Dhanani said: "We are planning to raise Rs 160 crore in IPO for the company. The money raised would be used for repayment of debt, expansion and for "

Largely depending on market conditions, the IPO could come in the first quarter of this financial year, a added.

Elaborating about the company's role in the casual dining space in the country, Dhanani said: "We have contributed significantly to defining and shaping the casual dining experience in the country with our unique proposition of, do-it-yourself live on-the-table-grill and have served over 24 million patrons over the last 4 years."

The company has not closed even a single for lack of business, he added.

Founded in 2006 in India, has over 102 outlets across major cities and towns in the country.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, April 08 2018. 10:55 IST