Paradise Biryani, a popular biryani brand in Hyderabad, is going places. After acquiring it from its promoters, Samar Capital has said it would open 100 new outlets across major cities. It said it would invest ₹100 crore for the nationwide expansion over the next three years.
“After the expansion, we would have 150 stores and a turnover of ₹550 crore. We are currently at an annual revenue run rate of about ₹300 crore,” Abhik Mitra, Managing Director and Chief Executive Officer of Paradise Food Court Pvt. Ltd., told businessline.
“We are looking at scaling Paradise into a future-ready national food brand while continuing to preserve the authenticity and legacy associated with Hyderabad’s culinary identity,” he said.
“We are focusing on new stores in Bengaluru and Chennai, where we are already present. We are also looking at Mumbai, NCR, and Pune. In Bengaluru and Chennai, the total biryani consumption is equal to the Hyderabad consumption,” he said.
Nilay Pratik, Managing Director, Samara Capital, said the organised food services sector in the country was witnessing strong structural growth, driven by changing consumer behaviour, rising disposable incomes, and increasing preference for trusted brands.
“What appealed to us was the strength of Paradise as a brand and the long-term opportunity it holds within this space. The company has all pillars of scalability now firmly in place,” he said.