In a move to strengthen its position as a leading player in the Asian food space, Speciality Restaurants is looking to clock a revenue of Rs 1,000 crore with technology intervention and brand refresh, a company official said on Monday.
The multi-brand restaurant chain’s standalone net profit in the first half of (April-September) FY’23 stood at Rs 27.67 crore from a turnover of Rs 195 crore, recovering from Covid pandemic headwinds.
“We aim to reach Rs 1,000 crore revenue in the next five years. Our stated goal is to double our current revenue in four years and triple it in six years, starting from the current level of Rs 400 crore,” Speciality Restaurants CMD Anjan Chatterjee told PTI.
The Calcutta-based company’s key focus will be on “leveraging its key brands and upgrading technology, including the use of AI, to enhance customer experience and drive revenue growth by maintaining EBIDTA of over 25 per cent”, he said.
Chatterjee said the company’s first step towards this goal is to refresh its flagship brand Mainland China, which will include a new look and menu offering.
“The aim is to increase same-store sales growth (SSSG) and convert Mainland China Mall outlets into Asia Kitchen with the brand refresh,” he said.
The company also plans to ramp up delivery through cloud kitchens and ‘kitchen within kitchen’ set-up, as well as leverage its brand equity to migrate into FMCG ready-to-eat formats, he said.
