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Jubilant FoodWorks January 19 informed the stock exchanges that it plans to open 250 stores for Dominos India and 40-50 stores of American fried chicken brand, Popeyes in the country in next 12-18 months.
The expansion is a part of its medium-term plan of opening 3,000 Domino’s stores globally, it mentioned.
The food services player also mentioned that for this reason, Rs 900 crore capital expenditure will be funded entirely via internal accruals over the aforementioned period.
In its update on Bengaluru restaurant, Jubilant FoodWorks added that it plans a capex of up to Rs 250 crore of the total planned investment. It expects the commisary to be operational by first quarter of next fiscal 2023-2024.
Meanwhile, the company has opened its first restaurant of Popeyes in Chennai yesterday (January 18).
Popeyes inaugurated its first restaurant in Bengaluru, which was followed by rapid expansion to 12 restaurants across the city in less than a year.
Jubilant FoodWorks Limited is an Indian food service company based in Noida, Uttar Pradesh which holds the master franchise for Domino's Pizza in India, Nepal, Sri Lanka and Bangladesh, for Popeyes in India, Bangladesh, Nepal and Bhutan, and also for Dunkin' Donuts in India.
Shares of Jubilant FoodWorks on Thursday (January 19) closed 1.50 percent higher at Rs 511.05 apiece on BSE. Source : https://www.moneycontrol.com/news/business/companies/jubilant-foodworks-plans-to-open-250-dominos-stores-40-50-popeye-outlets-in-india-in-12-18-months-9896081.html