Speciality Restaurants, which owns brands like Mainland China, Oh! Calcutta and Hoppipola, plans to expand its operations by opening both dine-in restaurants and independent cloud kitchens.
“The company is planning to set up at least six new restaurants across various formats in domestic and overseas locations and around 30 cloud kitchens in the next 18 months,” Speciality Restaurants founder and managing director Anjan Chatterjee told reporters here on Thursday.
Elaborating on the expansion plans, Chatterjee said: “We are looking at opening at least two dine-in restaurants in the UAE and one in London in the next 18 months. We will also open around 20-30 cloud kitchens across the country to tap into the food delivery segment.”
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The company is also entering the ready-to-cook segment with the launch of a range of Chinese sauces and has plans to enter the ready-to-eat segment as well.
Chatterjee said the current footfall at restaurants has exceeded the pre-pandemic levels. The food industry, which was on a survival and revival mode during the last two years due to Covid-19, is now in “thriving mode” and is expected to grow well with people resorting to “revenge eating”, he added.
“The pandemic, while throwing up immense challenges, has also created new opportunities. In the area of food, it is the concept of cloud kitchens that has opened new avenues of business growth. Keeping an ear to the ground, your company has been quick to seize the moment and pivoted our model to the hybrid model of cloud kitchens along with dine-in restaurants,” the company said in its annual report for 2021-22.
The company said it took strategies, including closing down unprofitable outlets and a tight control on costs. It currently has 117 outlets compared with around 140 outlets in FY20.
“The $58-billion Indian food service industry is expected to grow by 9% CAGR over FY20-25. According to the Economic Survey Of India 2019-20, 62% of India’s population is in the 15-60 year age bracket, with 30% under the age of 15 years. India is poised to enjoy the benefits of a substantial working age population for a long period of time,” Speciality Restaurants said in its annual report.
The company’s revenue from operations stood at Rs 252.93 crore in the last fiscal compared with Rs 150.14 crore in the previous fiscal. Net profit stood at Rs 8.15 crore in FY22 against a net loss of Rs 29.34 crore in FY21.
Source: https://www.financialexpress.com/industry/oh-calcutta-owner-plans-6-new-restaurants-30-cloud-kitchens/2668727/
