Bistro plans 10 TGI Friday`s outlets

New Delhi: Bistro Hospitality will invest nearly Rs 30 crore in its specialty restaurant chain TGI Friday’s (TGIF) to set up 10 new outlets by March 2009, in line with its plans to become a Rs 100 crore company by 2010.

The company is a master franchisee of the US-based Carlson Restaurants Worldwide’s (CRW) specialty restaurant format TGIF in India and adjoining areas. It operates seven TGIF outlets across the major metros.

“TGIF has been accepted very well in the major metros. There is a huge demand for more outlets across the country. We would invest Rs 30 crore in setting up 10 new outlets to fulfil the growing demand for TGIF outlets,” according to Rajan Jetly, CEO, Bistro Hospitality.

The expansion, expected to be completed by 2009, would take the company’s topline to Rs 100 crore by 2010-end. Bistro Hospitality had clocked a turnover of Rs 32 crore in the last financial year.

The company’s new outlets would come up in cities including Kolkata, Mumbai, Chennai, Hyderabad, Pune, Goa and Chandigarh.

“Our brand has been restricted to being a metropolitan brand. But the tier-II cities are promising and offer a huge business opportunity. We intend to tap this opportunity in the near future and are actively looking at towns such as Jaipur, Indore, Ludhiana, Calicut and Kochi for future growth,” Jetly said.

Bistro Hospitality might bring other specialty formats owned by CRW into India after 2010, Jetly added.

TGIF is a 40-year-old American casual dining chain and is the flagship brand of the $24 billion CRW group. Bistro Hospitality has been operating for more than a decade in India as a master franchisee of TGIF.