Page 5 - Restaurants

Speciality Restaurants surges 14%, nears 52-week high on fund raising plan

The company's board will meet on Wednesday, December 21, 2022, to consider and evaluate proposals for raising of funds by way of issue of equity shares or any other eligible convertible securities.

137 orders every minute: Swiggy reveals India's favourite dish in 2022

Swiggy's top customer was in Bengaluru, making a single order of Rs 75,378 placed during Diwali in October

Westlife eyes almost 3-fold sales growth in 5 yrs, to add 300 McDonald's

Westlife Foodworld, the master franchisee of McDonald's restaurants for West and South India, is looking for an almost three-fold jump in sales up to Rs 4,500 crore in the next five years by 2027, mainly on the back of network expansion, omnichannel approach, according to company officials. As part of network expansion, Westlife Foodworld will add around 300 McDonald's restaurants in the next five years, in which 60 per cent of the new stores are likely to be in the southern region and the rest in the western zone, said the company in its 'Vision 2027'. The company, which through its subsidiary Hardcastle Restaurants operates 337 McDonald's restaurants (as of September 30, 2022), has already commenced the work on the next 200 stores. "Westlife Foodworld's vision 2027 is strategic guidance for our road ahead. We see doubling our sales to (Rs) 40-45 billion in the next 5 years on the back of adding around 300 restaurants by 2027," said Westlife Foodworld Executive Director Akshay ...

Investment in agri tech startups jumps 2-fold to $4.6 billion in FY22

Investment in technology startups in the agriculture and food sector jumped over twofold to USD 4.6 billion during the last fiscal on the back of higher inflow in restaurant marketplace and e-grocery, according to a report by AgFunder and Omnivore. "Total investment in agrifoodtech startups for India's fiscal year (FY) 2022 stood at USD 4.6 billion, up 119 per cent from FY2021. Deal volume also increased to 234 in FY2022 as compared to 189 deals in FY2021," according to the report titled 'India AgriFoodTech Investment Report 2022'. AgFunder is foodtech and agtech venture capital firm, while Omnivore is a venture capital firm, based in India, which funds entrepreneurs building the future of agriculture and food systems. "Downstream investments continue to boost overall funding into the agrifoodtech space. Downstream startups raised USD 3.8 billion in FY2022, a 115 per cent increase from USD 1.77 billion in FY'2021. This significant growth is due to Swiggy which raised USD 1.2 billion

Tim Hortons plans to open 120 stores in India in next three years

Canadian restaurant chain Tim Hortons plans to open around 120 stores in India in the next three years at an investment of up to Rs 300 crore, a top company official said on Monday. The chain, which had in August opened its first outlets in India, is initially focussing on North India and will later expand to other regions. "The commitment that I made to the board is in the first 36 months of operation, in the first three years, there'll be 120 stores (in India)," the company's India CEO Navin Gurnaney said here in an interaction on the sidelines of Indian Restaurant Congress 2022. The company could exceed the target as the first year is focussed on "building the foundation" with 20 new stores followed by another 50 new stores in the following 12 months, he added. This, he said, will be followed by another 60 new stores in the third year. All these stores will be company-owned, he said, adding the "investment per store is between Rs 2 crore to Rs 2.5 crore". At present, Tim Horto

Delhi restaurants, hotels can now serve food in open spaces; Details here

Under the new rules, restaurants will not be asked to present a no-objection certificate from the fire department for allowing dining on the terrace

Barbeque-Nation Q2 net profit rises 143% to Rs 7.09 cr on dine-in rebound

Domino's Pizza's India franchisee Jubilant FoodWorks Ltd on Tuesday reported a 10% increase in quarterly profit on dine-in demand

Cost inflation overhang set to hit Jubilant FoodWorks in near term

The stock was down 7.55 per cent in trade on Wednesday and ended at Rs 566.45 per share

Jubilant FoodWorks net rises 10% in July-Sept quarter on high demand

This was owing to uptick in demand across all formats

Intellectual property on the food platter? Proof is in the pudding

While some restaurants abroad have successfully protected their recipes, prior art can prove to be a hurdle in patenting innovative cuisine

America's best restaurant Chai Pani pays homage to India's fave snack food

Very few Indians know their favorite snack has an American connection, and it's a safe bet that even fewer Americans know their country's contribution to Indian street food

ITC cooks up a storm, sets up 12 cloud kitchens and 48 brand outlets

A key lever of the ITC Next strategy is to spot new opportunities at the intersection of digital, sustainability and enterprise strengths

Delhi L-G sets up panel to ease licensing processes for restaurants, hotels

Delhi Lieutenant Governor V K Saxena has set up a high-power committee to ease licensing processes and requirements for restaurants and hotels, a move officials said will provide a fillip to the hospitality sector and make way for dining till late hours and on terraces. The committee will be headed by the principal secretary for home and comprise senior representatives from Income Tax Department, Delhi Pollution Control Committee (DPCC), Municipal Corporation of Delhi (MCD), Delhi Police, Delhi Fire Services and New Delhi Municipal Council (NDMC), according to officials. The lieutenant governor (L-G) has directed the committee to submit its report and recommendations within 15 days, they said. "The licensing processes and requirements are often found to be outdated, unnecessarily restrictive, coercive and discretionary. They have often led to complaints of harassment and corruption as well, resulting in the fact that unlike other global and Indian cities, Delhi's hospitality sector

A gastronomic journey through the North far removed from convention

Loya, the latest offering by Indian Hotels at Taj Palace, New Delhi, offers a confluence of flavours from the foothills of Himalayas, the fields of Punjab, the Gangetic plains, and snow-laden Kashmir

Swiggy denies exodus of restaurants amid deep discounting concerns

Amid reports about hundreds of restaurants delisting from Swiggy Dineout, sources said only 20 brands with nearly 400 outlets have delisted from Swiggy's dining out platform

ONDC goes live with beta launch in Bengaluru; 161 orders placed on Day 1

Govt-owned network starts in Bengaluru with online grocery, restaurant orders

Stocks to Watch: Adani Ports, Tata Power, UPL, SBI, Tata Motors, Patanjali

Stocks to Watch: State Bank of India (SBI) has clarified that it has not been identified as a nodal bank for handling Russia-related rupee transactions

Speciality Restaurants to expand; plans 20-30 cloud kitchens, 6 restaurants

At present, there are about 13 independent cloud kitchens, but the numbers are set to increase

Pizza, pasta and beyond: How Italian food is changing Indian dining

A guide to how to pick and how to cook one the world's most popular cuisines

FSSAI suspends 16 licences for non-compliance with calorie count order

The FSSAI has suspended the licenses of 16 food business operators for not complying with the regulator's latest norms