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Westlife Development Ltd.

BSE: 505533 Sector: Services
NSE: WESTLIFE ISIN Code: INE274F01020
BSE 00:00 | 18 Jun 499.85 4.05
(0.82%)
OPEN

501.80

HIGH

508.00

LOW

475.00

NSE 00:00 | 18 Jun 500.05 4.95
(1.00%)
OPEN

495.25

HIGH

508.90

LOW

474.05

OPEN 501.80
PREVIOUS CLOSE 495.80
VOLUME 11312
52-Week high 553.00
52-Week low 283.00
P/E
Mkt Cap.(Rs cr) 7,788
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 501.80
CLOSE 495.80
VOLUME 11312
52-Week high 553.00
52-Week low 283.00
P/E
Mkt Cap.(Rs cr) 7,788
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Westlife Development Ltd. (WESTLIFE) - Company History

Westlife Development Ltd (formerly known as Dhanprayog Investments Co. Ltd) was incorporated on October 30 1982. However in order to avail the opportunities in Real Estate development and other related activity including Hotels and Tourism the Company changed the Objects Clause in its Memorandum of Association and changed its name to Westlife Development Ltd with effect from June 03 2008. The Company is a part of the Mumbai-based B.L. Jatia Group and is engaged in developing the country's QSR industry through its wholly-owned subsidiary HRPL (Hardcastle Restaurants Private Limited) which operates McDonald's restaurants in Western and Southern India through a master franchisee arrangement with McDonald's Corporation.Pursuant to the resolution passed by members of the Company at an Extra Ordinary General Meeting held on 16th August 2013 the Directors of your Company on 27.08.2013 allotted 5404593 equity shares of RS. 2/- each at an issue price of RS. 333.05 per share including a premium of RS. 331.05/- per share to Arisaig Fund India Limited by way of preferential issue. The Bombay High Court had vide its order dated 19th July 2013 approved the Scheme of Arrangement between the Company and its subsidiaries As a result Hardcastle Restaurants Private Limited became the only and a direct subsidiary of the Company.In FY2015 the Company expanded its footprint with a gross addition of 27 new restaurants and also invested in re-imaging activities relating to building the interiors and exteriors to enhance the overall dining experience at its restaurants. For the same purposes it invested Rs 1021.8 million towards capital expenditure. During the year 2015 the Company closed/ relocated 2 restaurants across various locations in west and south India. In FY 2016 the Company expanded its footprint with gross addition of 30 new restaurants and also invested in re-imaging activities relating to building the interiors and exteriors to enhance the overall dining experience at its restaurants. For purposes of the same the Company invested Rs 1007.3 million towards capital expenditure. During the year 2016 the Company closed/ relocated 3 restaurants across various locations in west and south India.In FY 2017 the Company expanded its footprint with gross addition of 25 new restaurants and also invested in re-imaging activities relating to building the interiors and exteriors to enhance the overall dining experience at its restaurants. For purposes of the same the Company invested Rs. 946.4 million towards capital expenditure. During the year 2017 Company closed/relocated three restaurants across various locations in west and south India.