Impresario to open 18 restaurants this fiscal.

Impresario Entertainment & Hospitality plans to open 18 restaurants this fiscal with an investment of ₹60 crore.

The L Catterton Asia-backed hospitality major which operates in 15 cities pan-India under its eight restaurant brands, including Social and Smoke House Deli, plans to hire 1,500 people to support its expansion.

“We aim to open 18 new outlets in FY20 with an investment of ₹60 crore. We exited FY19 with an annual topline of ₹350 crore and are on track to achieve a consolidated turnover of ₹450 crore this fiscal, driven largely by Social,” Riyaaz Amlani, CEO and MD of Impresario Entertainment & Hospitality Pvt Ltd, told BusinessLine.

“We already have 23 Social outlets in Mumbai, Delhi, Bengaluru, Chandigarh and Pune, and are adding 12 more this fiscal in three more cities – Hyderabad, Chennai and Kolkata,” he said.

Last week, the company launched a new version of its popular 10-year-old brand Smoke House Deli in Bengaluru, with the next one scheduled to come up in Hyderabad.

Amlani says the return on investment for most of the outlets is under two years. “This is possible because when we launch any of our brands in a city, we make it relevant to the hyper-local community; more so with Social, which is a community space to hang out outside of the home and office. While most restaurants do one table-turnaround for lunch and two table-turnarounds for dinner, we do seven table turnarounds since we start with breakfast and go right up to the legal closing time,” he said.

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