New Delhi: Bistro Hospitality will inject nearly Rs30 crore in its specialty restaurant chain TGI Friday’s to set up 10 new outlets by March 2009, in line with its plans to become a Rs100-crore company by 2010.
The company is a master franchisee of US-based Carlson Restaurants Worldwide’s (CRW) specialty restaurant format TGIF in India and adjoining areas. It presently operates seven TGIF outlets across major metropolitan cities of the country.
“TGIF has been accepted very well in major metropolitan cities across the country. There has been a great demand for more outlets from across the country. We would invest Rs30 crore in setting up 10 new outlets to fulfil this growing demand for TGIF outlets,” Bistro Hospitality CEO Rajan Jetly told PTI.
He said the expansion, expected to be completed by 2009, would take the company’s topline to Rs100 crore by 2010-end. Bistro Hospitality had clocked a turnover of Rs32 crore in the last fiscal.
The company’s new outlets would come up in cities including Kolkata, Mumbai, Chennai, Hyderabad, Pune, Goa and Chandigarh.
“Our brand has been restricted to being a metropolitan brand but Tier II cities are promising and offer a huge business opportunity. We intend to tap this opportunity in the near future and are actively looking at towns like Jaipur, Indore, Ludhiana, Calicut and Kochi for future growth,” Jetly said.
He said post-2010, Bistro Hospitality might bring other specialty formats owned by CRW to India.
TGIF is a 40-year-old American casual dining chain and is the flagship brand ofthe $24 billion CRW group. Bistro Hospitality, as master franchisee of TGIF, has been operating in India for over a decade.