Paradise Food mulls adding 450 restaurants in next five years.

Paradise Food Courts, the makers of the popular biryani in Hyderabad, is on an expansion mode. The firm, which runs 50 restaurants in 13 cities, is planning to have an ambitious target of setting up 450 more restaurants in the next five years.

It is also planning to expand its footprint overseas at a later stage.

“The first 100 restaurants will come up in Andhra Pradesh, Telangana and other Southern States. After that we will expand to other cities,” Gautam Gupta, Chief Executive Officer of Paradise Food Court, has said.

The 70-year-old brand, which raised funds from private equity firm Samara Capital, said it would cost about ₹ 1.2-1.4 crore to set up one restaurant. “The bulk of the investments would come from internal accruals. We might need about 25 per cent from external players,” he said.

He said the firm would soon infuse funds to support the expansion plan. He, however, has not divulged the quantum of funds that would be infused.

HBL