K Hospitality Corp, which operates restaurants and cafes, food courts, and airport stores with the brands such as TFS, Copper Chimney, Bombay Brasserie, and The Irish House, has allocated INR 150 crore for capacity expansion in the current fiscal year, according to a top company executive.
“We expect to set up over 70 stores in the current financial year. We have signed up six large food courts, and another six are planned for the year,” K Hospitality Corp executive director Karan Kapur said.
With the travel sector recovering from the pandemic’s impact, he said the group had found potential opportunities for food courts on highways.
“For the April month, we have seen like-for-like 17 percent growth in numbers across our restaurant and banquets businesses versus pre-Covid numbers, which indicates a strong rebound in consumer sentiment and dining out,” Kapur said.
The company said it would invest Rs 200 crore in its Joshh quick service restaurant chain over the next five years to expand operations.
Over 500 restaurants, bars, cafes, food courts, banqueting, outdoor catering, corporate food services, and airports are part of the privately-owned F&B company. According to the company, under its new business segment, Fire Foods Africa, it entered Africa with exclusive franchise rights for Domino’s Pizza in Ghana.
The hospitality industry is reviving after two years of pandemic-related closures, state-level curfews, and operating limitations.