Paradise Food Courts on Thursday announced its plans of becoming a pan-India 500 restaurant company by 2027, and going global in two years. According to CEO Gautam Gupta, the 50th restaurant was opened recently, and its 51st restaurant would be opened in Sarath City Capital Mall on February 14. Paradise Food Courts has restaurants in 13 cities in six States.
Mr. Gupta said that the company plans to achieve the 500 restaurant mark in a phased manner. It plans to expand with about 100 stores in what it believes is its home market - Andhra Pradesh and Telangana.
The next phase of expansion will focus on other South Indian states like Tamil Nadu and Kerala. The first phase would entail the opening of 200 to 250 restaurants in South India. The subsequent phase of expansion would be towards the east, with Kolkata being an area of focus, with about 100 restaurants. The north and west regions of India too hold potential.
By the end of 2022, the company plans to open 100 restaurants, he said, adding that Paradise is looking at investing between ₹1.20 crore and ₹1.40 crore in each restaurant.
