Dishoom brings irresistible bhatti chicken and chai experience to South London

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November 6, 2023

Dishoom, a restaurant group with Bombay-inspired cuisine, is preparing to launch a new dining establishment at Battersea Power Station in South London, UK.

According to the report in The Caterer, the restaurant is scheduled to open in December 2023 and will be situated on Electric Boulevard, just outside the central power station building.

The menu of the Bombay-inspired restaurant will showcase a selection of its distinctive food offerings, including several signature items, as well as a chef’s special dish, the bhatti chicken.

Prepared by marinating in a blend of black spices, this dish is presented in both whole and half portions, served on the bone.

Additionally, the restaurant will include a Permit Room bar where guests can enjoy cocktails, chai (tea), and a variety of non-alcoholic beverages.

Dishoom Battersea’s menu also includes offerings such as a bacon naan roll, bun maska, roomali roti rolls, and an assortment of salads.

The Caterer quoted Dishoom Co-Founder Shamil Thakrar as saying, “I am a proud Londoner, and Battersea Power Station is one of those few genuinely iconic London buildings.

“When I was growing up, my father would endlessly lecture me on the importance of the power station and its provision of power for the city – I cannot quite believe we are in the fortunate position to be opening right beside it. I am genuinely thrilled.”

Drawing inspiration from the traditional Irani cafes of Bombay, Dishoom was established in 2010 in the heart of Covent Garden, central London.

Dishoom is currently strategizing an expansion to additional locations.

In 2022, the company reported a substantial 64% growth in turnover, reaching £94.9 million ($115.2 million), alongside a remarkable four-fold surge in pre-tax profits to £4.7 million.

As per information from PR agency Gemma Bell and Company, Dishoom is planning a soft launch for the Battersea restaurant, running from November 27 to December 5, 2023, leading up to the official opening on December 6.

Barbeque-Nation struggles with a second quarter of losses as expenses rise

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November 6, 2023

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On Monday, Barbeque-Nation Hospitality announced its second consecutive quarterly loss, primarily attributed to declining demand and increasing expenses.

The restaurant chain recorded a consolidated net loss of 123.7 million rupees ($1.5 million) for the three-month period concluding on September 30, marking a contrast from the 43.1 million rupees loss reported in the previous quarter.

In the same period last year, the company had reported a profit of 70.9 million rupees.

Indian food companies are grappling with reduced customer traffic due to elevated inflation, which is prompting consumers to limit their discretionary expenses.

For the majority of the reporting quarter, India’s retail inflation stayed above the Reserve Bank of India’s tolerance range of 2%-6%, only easing to 5.02% in September.

In response to this, Barbeque-Nation introduced promotional deals such as “early bird sales” on both beverages and food in an effort to boost sales.

In a statement, the company noted that it experienced a “seasonally sluggish quarter affected by days when only vegetarian options were available.”

The key performance metric, same-store sales, experienced a year-on-year decline of 10.7%, while the total revenue dropped by 2.8%. During this period, the company both opened four new stores and shuttered four others.

The company stated its intention to explore cost optimization strategies to enhance same-store sales growth in the latter half of the fiscal year.

Barbeque-Nation’s expenditures increased by 2%, primarily due to higher employee benefit expenses and occupancy costs, which more than offset a 2.5% reduction in the cost of food and beverages.

Following the release of the results, Barbeque Nation’s shares dipped by 2.5% to 631.9 rupees, accompanied by a trading volume 1.7 times higher than its 30-day average.

Westlife Foodworld and Sapphire Foods India witnessed declines in profits previously, whereas Jubilant FoodWorks, the franchisee of Dominos Pizza, surpassed Q2 profit estimates due to increased demand driven by cheaper pizzas.

Bira 91 hits INR 1,000 Cr revenue milestone in FY23, accelerates focus on expansive growth strategies

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November 6, 2023

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In the fiscal year 2022-23 (FY23), Bira 91, the beer brand headquartered in Delhi-NCR, approached the INR 1,000 Cr milestone in revenue. The well-known beer producer recorded an operating revenue of INR 824.3 Cr for the year concluding on March 31, 2023, marking a 15% rise from INR 718.8 Cr in the preceding fiscal year.

When factoring in other sources of income, the startup’s overall revenue increased by 17%, reaching INR 848.7 Cr in FY23, compared to INR 726.4 Cr in the preceding fiscal year.

Established in 2015 by Ankur Jain, Bira 91 asserts that it distributes its beer to over 550 towns and cities, extending its reach to more than 18 countries. The startup asserts its position as the fourth-largest beer company in India.

Bira 91 generates its primary income through beer sales. Additionally, the startup expanded its market by introducing non-alcoholic beverages in 2020.

Even with the growth in revenue, Bira 91 experienced a 12% increase in its net loss, reaching INR 445.4 Cr in FY23, up from INR 396 Cr in the prior fiscal year.

The total expenses of the beer manufacturer surged by 14%, reaching INR 1,282.4 Cr in the year being assessed, up from INR 1,122.5 Cr in the preceding fiscal year.

Bira 91’s most significant cost was in the form of excise duty, representing 29% of its overall expenditure. The startup disbursed INR 365.8 Cr for excise duty related to the sale of its products in FY23. Nonetheless, this marked an 8% decrease from INR 398 Cr in the prior fiscal year.

Bira 91 allocated INR 239.1 Cr toward the acquisition of raw materials for beer production in FY23, reflecting a 49% upswing from the INR 160.3 Cr spent in FY22.

Costs associated with employees, primarily constituted by wages, rose by 23%, reaching INR 115 Cr in FY23, up from INR 93.5 Cr in the preceding fiscal year. As per Bira 91’s LinkedIn page, the company presently employs 897 individuals, marking a 42% surge from the previous year.

Appearing to aim for cost reduction, Bira 91 reduced its advertising spending by 14% to INR 85.5 Cr in FY23, down from INR 99.5 Cr in the prior fiscal year.

The startup’s EBITDA margin showed improvement, moving from -29.7% in FY22 to -25.4% in FY23.

Bira 91 has secured more than $263 Mn in funding through various investment rounds thus far. The startup’s supporters include Peak XV Partners, Sofina Ventures, Kirin Holdings from Japan, and MUFG Bank.

This March, the startup secured a $10 Mn investment from MUFG Bank, Japan’s largest bank. Bira 91 operates five manufacturing facilities with a production capacity of approximately 250 million liters (2.5 million hectoliters).

Apologies for any confusion earlier. Here’s a revised version starting with “Last year”:

Last year, Bira 91 concluded an all-stock acquisition of the alco-beverage chain The Beer Cafe. Concurrently, it also acquired the brewery company Kamakhya Beer & Bottling Private Limited. Following these acquisitions, Bira 91 stated that obtaining The Beer Cafe would result in the addition of 10 new brand stores to its existing chain.

In December 2022, Bira 91 underwent the transformation into a public company, a strategic move believed to be a significant step toward its anticipated initial public offering (IPO).

Last month, another Indian beer startup, Proost, successfully raised INR 25 Cr (about $3 Mn) in its pre-Series A funding round, a combination of equity and debt.

In addition to competing with established players like Diageo, United Breweries, and Pernod Ricard India, Bira 91 also competes with startups like White Owl Brewery and Simba.

Pepsi India bottler Varun Beverages records 31.5% profit surge in Q3

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November 6, 2023

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On Monday, Varun Beverages, the bottler for Pepsi in India, announced a third-quarter profit that exceeded expectations, thanks to increased sales volume and consistent demand.

The consolidated net profit surged by 31.5% to 5.01 billion rupees ($60.20 million) for the three-month period ending on September 30, in comparison to 3.81 billion rupees from the previous year.

According to data from LSEG, the average analyst expectation was a profit of 4.51 billion rupees.

Based in Gurugram and operating in six countries, this company is one of PepsiCo’s largest franchisees outside the United States. It is responsible for packaging and distributing beverages bearing the Pepsi, Mirinda, and Tropicana labels.

In the quarter, Varun Beverages recorded a substantial 21.2% increase in revenue from its operations, totaling 39.38 billion rupees.

According to a company statement, consolidated sales volume in the quarter increased by 15.4%, reaching 220 million cases compared to 190 million cases the previous year. This growth was driven by double-digit expansion in both Indian and international markets.

The company stated that Earnings before Interest, Taxes, Depreciation, and Amortization (EBITDA) increased by 26.2% to 8.82 billion rupees in the quarter, supported by improved gross margins.

Nonetheless, the cost of materials used in the quarter increased by 11.8% to 16.35 billion rupees.

The company’s shares, which include sales of Aquafina packaged bottled water, experienced a 0.4% decline following the release of the results. Nonetheless, the stock has seen a 43.1% increase year-to-date.

Dunzo reports INR 1,800 Crore loss in FY23, while operational revenue soars to INR 226 Crore

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November 6, 2023

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The struggling quick-commerce firm Dunzo witnessed a substantial increase in its losses, which soared to INR 1,801.8 crore in FY23. Despite this, its operational revenue surged more than fourfold, reaching INR 226.6 crore.

The company backed by Reliance Retail, which significantly reduced its operations and downsized its workforce throughout the year, experienced a notable increase in its total expenses, reaching INR 2,054.4 crore in FY23, compared to INR 531.7 crore in FY22. In the previous year, Dunzo had reported a loss of INR 464 crore, with operating revenue of INR 54.3 crore.

In FY23, employee benefit costs surged to INR 338 crore, compared to INR 138.3 crore in the preceding year. Similarly, advertising expenditures increased to INR 309.7 crore from INR 64.4 crore in the previous year, driven by the company’s advertising campaign during the Indian Premier League last year.

In recent months, investors have been closely scrutinizing Dunzo’s cash flow as the company faced challenges with debt terms and delayed salary payments for several months. They even resorted to using a payroll financing app to cover August salaries. Some portions of employee salaries for June and July have now been postponed until February of the following year.

Also Read: Dunzo turns to payroll financing app OneTap for August salary payments amid financial strain

Also Read: Legal troubles mount for struggling Dunzo as companies seek payment resolution

Meanwhile, the company witnessed the departure of five individuals from its board, including co-founders Dalvir Suri and Mukund Jha, along with representatives from investors Reliance Retail and Lightrock. Suri and Jha have completely exited the startup.

Also Read: Dunzo’s leadership exodus continues: Co-Founder Mukund Jha steps down

The company, based in Bengaluru, has additionally released numerous employees, reducing its team size to approximately 200 from the initial count of over 1,000 at the start of the year. Reports indicate that it is currently in negotiations for a potential funding injection of up to $35 million from current investors, with some of them proposing a reduced valuation of around $200 million – which is just a quarter of its peak value of $800 million.

Dunzo has significantly scaled down its operations to only a few dark stores in its hometown of Bengaluru, while collaborating with partner stores in other locations. The anticipated new funding is expected to come with a condition that the company primarily concentrates on its B2B business, known as Dunzo Merchant Services. This segment provides last-mile delivery services to clients and boasts significantly healthier profit margins compared to its B2C operation.

Costa Coffee launches exclusive Diwali-inspired menu with renowned baker Shivesh Bhatia

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November 6, 2023

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Costa Coffee, a brand owned by Coca-Cola, has unveiled its yearly Diwali initiative, #CostaWaliDiwali, in collaboration with Shivesh Bhatia, the renowned baker and content creator.

Their collaborative endeavor brings forth a Diwali-inspired coffee menu that harmonizes Diwali traditions with Costa Coffee’s innovative and modern approach.

Costa Coffee has unveiled its Blisstachio Rose beverage lineup, which includes the delightful Blisstachio Rose Hot Latte, the refreshing Blisstachio Rose Iced Cappuccino, and the enticing Blisstachio Rose Boba Frappe, drawing inspiration from traditional Indian sweets.

“At Costa Coffee, we are dedicated to embracing and celebrating cultural richness through our coffee. This Diwali, our collaboration with Shivesh Bhatia for the launch of Blisstachio Rose collection showcases our commitment to crafting unique experiences for our consumers. The skilful fusion of tradition with contemporary creativity builds a symphony of flavour that celebrates the richness of Diwali in every cup,” said Vinay Nair, General Manager, India & Emerging International, Costa Coffee at the Coca-Cola Company.

Costa Coffee has collaborated with Shamon Sachdeva, a talented graphic design student from Anant National University, to create captivating Diwali-themed coffee cup designs.

Shamon’s artistic skill intricately transforms traditional diya flames into coffee beans, paying a creative tribute to Costa Coffee through compelling visual narratives.

I am thrilled to be joining hands with Costa Coffee for an exciting festive range of beverages. Creating this range using flavours that hold a special place in my heart that I have enjoyed growing up has truly been a fulfilling experience. From brainstorming ideas to conducting trials and finally witnessing the Blisstachio Range launch, it has been an absolute joyride to spread festive cheer among people with the best of drinks.” said Shivesh Bhatia.

Costa Coffee has launched its 150th store in New Delhi. As part of its ongoing expansion plan, the brand aims to establish more outlets in the top 8-10 major Indian cities, aiming to broaden and enrich its presence across the nation.

IHG Hotels & Resorts to launch two new hotels in Chandigarh tri-city area, expanding its presence in Punjab

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November 6, 2023

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IHG Hotels & Resorts, an international hotel corporation, has signed a management agreement with NK Sharma Hospitality Pvt Ltd to launch two new hotels in the Chandigarh tri-city area. The establishments will include Crowne Plaza Chandigarh Zirakpur, targeting the upscale market, and Holiday Inn & Suites Chandigarh Zirakpur, forming part of the essentials collection.

At present, these hotels are in the construction stage and are scheduled to open their doors to guests in January 2027.

“We are thrilled to expand our mainstream offering with another Holiday Inn hotel in Punjab in the vibrant locale of Zirakpur, and to introduce Crowne Plaza Chandigarh Zirakpur, alongside our longstanding partners NK Sharma Hospitality Pvt Ltd. The hotels’ strategic location along the NH22 and their easy accessibility to popular leisure destinations like Shimla and Kasauli will undoubtedly prove to be a significant draw for travelers across segments, both leisure and business,” said Sudeep Jain, Managing Director, South West Asia, IHG Hotels & Resorts.

By expanding IHG’s presence alongside Holiday Inn Chandigarh Panchkula and Holiday Inn Chandigarh Zirakpur, this dual agreement will strengthen the company’s offerings in Punjab, adding over 350 rooms to its state portfolio.

Located in Zirakpur and part of a cluster, these forthcoming hotels will be strategically positioned adjacent to National Highway 22, a major thoroughfare in India, attracting travelers from surrounding urban areas.

Upon their inauguration, both Crowne Plaza Chandigarh Zirakpur and Holiday Inn & Suites Chandigarh Zirakpur will strategically provide expansive banquet facilities encompassing approximately 100,000 square feet of meeting space.

“We are delighted to further strengthen our partnership with IHG Hotels & Resorts through the expansion of Holiday Inn & Suites and to debut Crowne Plaza in Punjab. Building upon the success of Holiday Inn Chandigarh Panchkula, we have confidence that our partnership will prove to be fruitful, dedicated to providing top-quality hospitality to our guests. We look forward to harnessing the benefits of IHG’s global systems and robust loyalty program to maximize our mutual success,” said NK Sharma, Managing Director at NK Sharma Hospitality Pvt Ltd.

This strategic location enables them to efficiently serve the considerable demand for hosting weddings, conferences, and events in Zirakpur, Chandigarh, Mohali, Panchkula, and Dera Bassi. Additionally, their proximity to Himachal Pradesh, Haryana, and Uttarakhand will draw travelers seeking convenient stopovers during their leisure travels.

Burma Burma unveils largest restaurant yet in India, making Hyderabad home to its 10th culinary haven

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November 6, 2023

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Marking a remarkable culinary milestone, India’s pioneering Burmese specialty restaurant and tea room, Burma Burma, has recently opened its doors at Knowledge City in HITECH City, Hyderabad. This exceptional establishment celebrates the diverse culture, sumptuous cuisine, and distinctive cooking techniques of Burma.

With its extensive range of beverages and mouthwatering cuisine inspired by the streets and homes of Burma, this award-winning restaurant has already made a resounding impression nationwide. As it sets up shop in Hyderabad, it promises to be a delightful addition to the city’s burgeoning and diverse food scene.

Burma Burma seamlessly blends the authentic culinary traditions of Burma with a contemporary twist, offering a curated collection of artisanal teas within a space that harmoniously combines traditional Burmese elements with modern aesthetics. Their ever-evolving menu features a range of delectable dishes and beverages, drawing inspiration from Burmese street food, tribal heritage, and cherished heirloom recipes passed down through generations. Infused with bold flavors tailored to Indian tastes, guests can explore an array of options, including delectable small plates, refreshing salads, hearty mains, thirst-quenching coolers, mocktails, and chilled bubble teas, as well as indulgent desserts and artisanal, small-batch ice creams that evoke nostalgia.

Incorporating contemporary and minimalist design elements that honor the timeless allure of Burma and its captivating textile legacy, the fresh 120-seat restaurant and tea room sprawls across 4000 square feet. This new establishment stands as a splendid inclusion in Hyderabad’s expanding array of international cuisine options.

This is one of the first Burma Burma restaurants designed with a forward-thinking approach. As you enter, you’ll immediately notice the incorporation of unique elements inspired by its country of origin, intricately woven into the interior design. Notably, the restaurant features striking large wire-work pagoda installations, which serve a dual purpose as both decorative elements and a source of ambient lighting. However, the real eye-catchers are the vibrant booth-backs crafted from traditional Burmese basket weaves. Not only do they provide privacy, but they also inject a burst of color into the predominantly earthy-neutral color scheme of the restaurant.

In the newest branch of Burma Burma in Hyderabad, Minnie Bhatt, the Design Director at Minnie Bhatt Designs, infuses the interiors with authentic design elements that create an immersive dining experience. While maintaining the consistent design language seen across the brand’s various restaurants, the Hyderabad location distinguishes itself. A stunning 30-foot printed canvas wall panel depicting the skyline of Bagan, an ancient Burmese city, serves as a captivating backdrop that anchors the space. Throughout the restaurant, smaller design surprises are scattered, inviting customers on an enchanting design exploration.

Founded in 2014 by restaurateurs and childhood friends Chirag Chhajer and Ankit Gupta, Burma Burma (Hunger Pangs Pvt. Ltd.) has rapidly expanded its footprint to encompass 10 restaurants and delivery kitchens in key cities such as Bangalore, Delhi-NCR, Mumbai, Ahmedabad, and Kolkata. In a truly unique endeavor, Burma Burma brings the vibrant essence of Burmese culture to life like never before. Notably, Burma Burma clinched the 34th spot in the prestigious Conde Nast Traveller Top Restaurant Awards for 2023.

DeVANS Modern Breweries boosts production with new partnership in Uttar Pradesh

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November 6, 2023

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Just one year after substantially increasing its production capacity through joint endeavors in Arunachal Pradesh and Jharkhand, DeVANS Modern Breweries, renowned as the country’s oldest manufacturer of top-quality malt spirits and an array of acclaimed beers, has announced a new collaboration in Uttar Pradesh. DeVANS has formed a production alliance with Vairagi Brewery in Barabanki, Uttar Pradesh, expanding its production capability by an extra 24,000 KL, bringing the total capacity to 2 million cases per year.

“Uttar Pradesh stands as a substantial beer market, and DeVANS had been encountering challenges in fully servicing the market due to capacity limitations. The Vairagi production alliance will be instrumental in satisfying the demand for our beers within the state. Furthermore, it will enable us to circumvent supplementary expenses related to import duties and freight, while simultaneously elevating our overall production capacity to 1,80,600 KL,” emphasized Prem Dewan, Chairman and MD of DeVANS Modern Breweries Ltd.

DeVANS, known for its acclaimed beer brands like Godfather, Six Fields, and Kotsberg, presently operates two breweries, one in Rajasthan and another in Jammu. Furthermore, it has been engaging in beer production collaborations in Arunachal and Jharkhand over the past year. The Vairagi partnership represents the third production collaboration for the company, and discussions are ongoing in two other states to establish similar arrangements. Additionally, DeVANS has initiated a strategic alliance with Tropical Breweries Ltd in Tamil Nadu, which is set to commence production of the company’s brands by November this year. Notably, these partnerships are built on cutting-edge, modern breweries with superior infrastructure to ensure the production of high-quality beers.

DeVANS has consistently brought innovative products to the Indian market, such as Six Fields Cult, recognized as India’s leading Belgian-style robust wheat beer, and Godfather Super 8, the country’s sole beer boasting an 8 percent ABV. Expanding beyond beer, DeVANS is delving into broadening its range of spirits. Last year, DeVANS entered the Single Malt segment with the launch of GianChand single malt whisky, which received notable acclaim. Several more single malt variations, distinguished by extended maturation, are set to be released by December 2023. Additionally, the company is planning to introduce a premium craft gin and a blended whisky in the subsequent year.

Sustainable agri-produce brand Himshakti secures $99.8K in pre-seed funding led by EvolveX, targets expansion and new product launch

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November 6, 2023

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Sustainable agri-produce brand Himshakti has secured $99.8K in its pre-seed funding round, with EvolveX taking the lead as the primary investor, and We Founder Circle participating as a co-investor. In addition to these contributions, Himshakti received support from VC funds such as Artha Venture Fund and Auxano, as well as backing from VKJ Projects and distinguished angel investors.

In a press release, Himshakti stated that the funds raised will be allocated towards team expansion, sales and marketing initiatives, and the introduction of new products. Additionally, the firm has outlined plans to extend its presence to over 1,000 premium stores across North India within the next three months.

Established in 2019 by Harshit Sehdev, Himshakti specializes in offering organic products such as seasoned salts, spices, teas, cereals, and juices sourced from the Himalayan region of India. The company proudly asserts its role in introducing India’s pink salt through partnerships with Hindustan Salts Ltd and Sambhar Salts Ltd.

Commenting on the investment, Harshit Sehdev, Founder, Himshakti stated,“Our vision at Himshakti is dedicated to establishing sustainable income avenues for remote Himalayan villagers and introducing the natural superfoods of the Himalayas to our consumers. This ambitious endeavor thrives on the support we receive, and I am profoundly grateful to EvolveX and WFC for nurturing our mission. Their commitment has ignited an extraordinary sense of enthusiasm and excitement within the Himshakti team and myself.”

Bhawna Bhatnagar, Co-Founder of EvolveX, shared, “In the aftermath of the COVID-19 pandemic, there has been a palpable rise in the demand for healthier consumable alternatives. With this backdrop, the allure of pristine Himalayan agricultural products is unmatched. Himshakti’s offeringsalign perfectly with this growing consumer preference, providing a fitting solution to today’s health-conscious individuals. Particularly inspiring is Himshakti’s focus on women empowerment through itsconnections with over 12,000 women farmers. At EvolveX, we remain fully dedicated to supporting theirtransformative journey.”

The Dehradun-based FMCG brand has expanded its product line by launching new organic offerings, including Hemp flour, Hemp seeds, Hemp oil, Nettle tea, and Chamomile tea, among various other teas. Its primary goal is to provide consistent income and support to local villagers and farmers.

In October last year, the FMCG brand raised INR 17 lakh in funding, led by Artha Venture Fund and IIM Kashipur, with participation from angel investors Anand Kumar of Pier Counsel and Varun Agrawal of StarClinch.

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