Jubilant FoodWorks Ltd that operates Dominos Pizza chain in India today said it plans to open 100 Dunkin' Donuts outlets in India in the next five years.
Earlier in May this year, leading baked food and coffee chain of US, Dunkin' Donuts chose Jubilant FoodWorks Ltd (JFL), which runs restaurant chain Dominos Pizza in India, as its master franchisee.
"Having initiated the launch of Dunkin' Donuts in India JFL will scale up this brand in a systematic manner over a period of time...Over a five year time horizon JFL plans to launch 80-100 Dunkin' Donuts restaurants in India," JFL said in a statement.
The company currently has three Dunkin' Donuts restaurants in the country and plans to have 10 restaurants by the end of this fiscal, it added.
Jubilant FoodWorks today posted a 39.63% rise in profit at Rs 32.34 crore for the first quarter ended June 30, 2012 mainly on account of higher sales.
Total income from the operations rose to Rs 314.50 crore for the quarter under consideration as against Rs 216.91 crore for the same period year ago.
On back of favourable first quarter results, the company has revised its target and now plans to open 100 new Domino's Pizza stores in the current fiscal as against the earlier target of 90 outlets.
The company said it is also planning to open 5-6 Domino's Pizza stores in Sri Lanka during the current fiscal and scale it up to 30 stores over the next five years.
JFL is also evaluating entering other emerging countries including Bangladesh.
"We will take decision on entering Bangladesh market in the next 6-8 months. We are currently evaluating that market," JFL CEO Ajay Kaul told reporters during a conference call.
Shares of Jubilant FoodWorks today closed at Rs 1,188.80 on the BSE, down 1.75% from its previous close.
