The firm acquired a fund infusion of ₹50 crore from (*3*) (IndiaRF) this month.
“We’re looking to close the current financial year at upwards of ₹550 crore in revenue. Impresario as a whole has seen a strong first half of the fiscal year and we’re carrying that momentum over into quarter three as well,” stated Bhatt.
“The first half of the financial year saw a 15% growth in revenue for like-for-like outlets, as compared to the pre-Covid times, and the growth is poised to sustain itself this quarter too,” he instructed ET.
Impresario has greater than 60 retailers throughout 17 cities, with the Social and Smoke House Deli depend standing at 35 and 11 retailers, respectively.
“This year itself we’re looking to add about 12 new outposts and enter Dehradun with both Social and Smoke House Deli,” stated Bhatt. “For Impresario as a whole, Social and Smoke House Deli, our two marquee brands, will be leading the charge in terms of business growth and geographic expansion.” Bhatt was earlier the enterprise head of Social.
“We will also be looking into expanding our delivery business. This includes not only Social and Smoke House Deli, but also our cloud kitchen brands like Boss Burger and Lucknowee, using our existing network of stores across the country,” he stated. The firm has additionally elevated Satyajit Dhingra to the publish of chief enterprise officer. Dhingra has performed a pivotal position in the enlargement of Mocha.
India Resurgence Fund, promoted by Piramal Enterprises and Bain Capital, introduced an funding of ₹550 crore in Impresario Entertainment and Hospitality on November 14. Following the transaction, India Resurgence Fund has turn into the bulk shareholder of Impresario. Bhatt stated the infusion provides the corporate loads of capital to actualise its progress plans and give attention to “pan-India expansion”. He stated the blurring strains between metro and non-metro current “dynamic” progress alternatives.