Westlife Development Ltd, which operates the McDonald’s chain of restaurants in the southern and western parts of the country, is on a major expansion drive.
The chain plans to more than double its outlets from 223 now across 29 cities, to nearly 500, over the next few years.
The company, which operates the McDonald’s chain through its subsidiary Hardcastle Restaurants, is planning to invest about Rs. 750 crore over the next five years and about Rs. 150 crore this year to expand the quick service restaurant chain, Amit Jatia, Vice-Chairman of Westlife Development, a BSE-listed company, told BusinessLine . Speaking on the sidelines of an event coinciding with 20 years of McDonald’s operations in India, Jatia said the company is on course to closing the current financial year (2016) with a turnover of Rs. 850 crore and has been growing at compound annual growth rate of 20 per cent over the past five years.