Quick-service restaurant chain Nirula's today said it will open 50 new outlets in the next 12 months across India, entailing an investment of Rs 15-20 crore, besides planning an international expansion by 2013.
"Nirula's will expand into seven new cities in India in the next 12 months, including Patna, Dehradun, Pune and Baroda to open 50 new outlets. The company will invest about Rs 15-20 crore along with the franchisees for expansion," Nirula's CEO and MD Samir Kuckreja told PTI.
Of the upcoming restaurants, about 50% will be company owned and the rest run by franchisees.
Commenting on international expansion, Kuckreja said the company is eyeing overseas presence in the next three years.
"In the past we have had successful operations in Nepal and Oman. We have plans to expand in markets outside in India by 2013 fiscal. We would look at the SAARC countries such as Sri Lanka, Bangladesh, Nepal, Pakistan and also the Middle East," he said.
Currently, Nirula's operates 85 outlets in eight cities in India and claims to be growing at a CAGR of 20-25% in the last five years.
For domestic expansion, the company will set up outlets in malls and high streets besides tapping other avenues such as highways, metro stations, hospitals and airports.