Paradise Biryani Plans 100 New Outlets Across Country; Eyes Rs.500 Cr Revenue by FY29**
Hyderabad, May 21 (TNT) : Paradise Food Court Private Limited on Thursday announced plans to open around 100 new outlets across major Indian cities over the next three years with an investment of Rs.100 crore as part of its aggressive nationwide expansion strategy.
Speaking to reporters here, Paradise MD & CEO Abhik Mitra said at around 80 to 100 new stores would be added by the end of FY29 , taking the total outlet count to nearly 150 and target revenues of nearly Rs.550 crore by FY29.
Currently, the company operates 57 outlets across the country and plans to strengthen its presence in Bengaluru, Chennai, Mumbai, Pune and New Delhi, he informed.
Mitra said the company is expected to cross Rs.300 crore revenue during the current financial year, supported by expansion and growth in existing outlets, against Rs.260 crore recorded in the previous financial year.
He said the organised food services sector in India was witnessing strong growth due to changing consumer preferences, rising disposable incomes and increasing demand for trusted brands.
He said Paradise possessed strong brand recognition and significant long-term growth potential in the organised biryani market.
Mumbai-based private equity firm Samara Capital had earlier acquired the Hyderabad-based restaurant chain Paradise Food Court (famous for its biryani) from its promoters and is now spearheading the company’s next phase of national expansion.
Samara Capital Director Nilay Pratik, said that the company had already started identifying properties for the planned rollout.
He said the Indian biryani market was estimated at around Rs.35,000 crore and continued to grow rapidly, while only about 15 per cent of the segment remained organised.
He said Hyderabad biryani already enjoyed strong national recognition, placing Paradise in a favourable position for large-scale expansion.
The company also clarified that all Paradise outlets would continue to remain company-owned and company-operated, with no plans to adopt a franchise model.
Officials said the company would continue focusing on quality, hygiene and operational consistency amid increasing competition in the organised biryani segment.
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