Latest news with #BiryaniByKilo
Reuters
23-05-2025
- Business
- Reuters
KFC India operator Devyani widens losses in fourth quarter as expenses bite
May 23 (Reuters) - Devyani International ( opens new tab, which operates KFC and Pizza Hut restaurants in India, posted a wider loss in the fourth quarter on Friday, as rising costs took a toll. The franchisee reported 147.4 million Indian rupees ($1.7 million) in consolidated net loss for the three months ended March 31, compared to a loss of 74.7 million rupees a year ago. It booked an impairment charge of 135.7 million rupees but did not disclose any further details. The company's expenses surged nearly 13.5% due to higher costs for key ingredients like cheese and palm oil, alongside a significant jump in employee costs. Global fast-food chains like KFC, McDonald's, Domino's and Pizza Hut, are rolling out pocket-friendly pizzas and burgers in the world's fastest-growing economy, where consumers are curbing discretionary spending due to rising costs of living and sluggish wage growth. Cheaper items on the menu and store additions over the last year paid off as revenue from operations rose nearly 16% to 12.13 billion rupees in the reported quarter. Pizza Hut's same-store sales grew 1%, while that of KFC outlets declined 6.1%, even though it was an improvement compared to last year's 7.1% drop. Devyani, which also operates Costa Coffee stores, now has 2,039 restaurants across geographies including, India, Nigeria, Nepal and Thailand. Last month, the company acquired a controlling stake in Sky Gate, which owns the popular brand "Biryani By Kilo". ($1 = 85.6600 Indian rupees)
Time of India
25-04-2025
- Business
- Time of India
KFC operator buys BiryaniByKilo co
KFC operator buys BiryaniByKilo co Devyani International , which operates chains such as KFC , Pizza Hut, and Costa Coffee through franchise agreements, on Thursday said it will acquire up to 80.7% stake in Sky Gate Hospitality , which owns brands including Biryani By Kilo , Goila Butter Chicken , and The Bhojan, for Rs 419.6 crore. Stay informed with the latest business news, updates on bank holidays and public holidays . Master Value & Valuation with ET! Learn to invest smartly & decode financials. Limited seats at 33% off – Enroll now!
Time of India
25-04-2025
- Business
- Time of India
Hot Stocks: 3 stocks that may give returns between 13-43%
A look at some of the latest stock recommendations by analysts . These stocks are expected to return between 13% and 43% as per analyst price targets . DIVI'S LABORATORIES by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Boria: The price (& size) of these hearing aids might surprise you Learn More Undo BROKERAGE: CITI Price Target: Rs 7,050 CMP: Rs 6,216 | Upside: 13% Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Orforglipron, Eli Lilly's oral diabetes drug, next addition in Divi's pipeline Potential to become primary supplier Company has announced $170-million capex, which Citi believes is primarily for GLP-1—medication to manage Type 2 diabetes and obesity Divi's could be a key player for Eli Lilly's next weight loss product—Retatrutide DEVYANI INTERNATIONAL BROKERAGE: BERNSTEIN Price Target: Rs 220 CMP: Rs 179 | Upside: 23% Reiterate positive view after acquiring majority stake in unlisted Sky Gate Hospitality, which owns Biryani By Kilo and other cloud kitchens Value accretive for Devyani as deal done at 2-2.5 times sales QSR (Quick Service Restaurant) chains at 4-6.6 times sales FY25 and FY26 earnings to be volatile because of M&A and growth moves Live Events ANANT RAJ BROKERAGE: NOMURA Price Target: Rs 700 CMP: Rs 488 | Upside: 43% Reiterate Buy rating but cut price target from Rs 750 to Rs 700 citing a more conservative stance on its data centre unit Company's 307 Mega Watt Data Centre target will be reached by FY32-33 as against earlier expectations of FY31 Valuations still attractive as earnings per share estimated to grow over 40% on a compounded basis over FY26-27
Mint
24-04-2025
- Business
- Mint
KFC operator Devyani International to acquire majority 81% stake in ‘Biryani by Kilo' parent for ₹420 crore
Quick service restaurant chain operator Devyani International Ltd on Thursday said it will acquire up to 80.72 per cent stake in Sky Gate Hospitality, which operates brands including 'Biryani By Kilo', for ₹ 419.6 crore. The acquisition includes three brands of Sky Gate -- Biryani By Kilo, Goila Butter Chicken, and The Bhojan. The company's board in its meeting approved acquisition of up to 80.72 per cent equity stake for ₹ 419.6 crore, on fully diluted basis, in Sky Gate Hospitality Pvt Ltd along with its subsidiaries, Devyani International Ltd (DIL) said in a regulatory filing. In addition, the company will also pay contingent consideration as per the terms of the transaction documents, DIL said. DIL operates quick service restaurant chains such as KFC, Pizza Hut, and Costa Coffee through franchise agreements. Sky Gate along with its subsidiaries owns brands Biryani By Kilo, Goila Butter Chicken and The Bhojan. It predominantly operates through a chain of over 100 outlets including dine-in restaurants in more than 40 cities and is amongst the first ones to introduce the 'handi biryani' concept and deliver freshly prepared biryani, it added. Post the transaction, Sky Gate will become a subsidiary of the company, the filing added. "This strategic move aims to enhance DIL's presence in the Indian cuisine segment by integrating these well-established brands into its portfolio," the company said in a statement. Commenting on the acquisition, DIL Non- Executive Chairman, Ravi Jaipuria said,"While our portfolio boasts a diverse array of national and international brands, we identified a need to add traditional and authentic flavours of the much-loved Indian food to our portfolio." He further said,"Our partnership with Sky Gate addresses this, bringing their exceptional brands, Biryani By Kilo and Goila Butter Chicken, into our fold. Sky Gate's command over flavours and technique of cooking biryani, has enabled them to deliver high-quality and delectable dishes, making them standout and leader in the industry." Founded in 2015 by Kaushik Roy and Vishal Jindal, Sky Gate has emerged as a strong player in India's food delivery sector. "We are confident that our brands have found the right home for future growth and expansion of Sky Gate portfolio. Together, we aim to combine our knowledge and experience to enhance customer offerings and elevate the overall dining and delivery experience," Roy and Jindal said. With this acquisition, DIL said its brand portfolio now encompasses 10 diverse food and beverage brands, including recent additions like Tealive, Sanook Kitchen and New York Fries.
Mint
24-04-2025
- Business
- Mint
KFC operator Devyani International to acquire majority 81% stake in ‘Biryani by Kilo' parent for ₹420 crore
Quick service restaurant chain operator Devyani International Ltd on Thursday said it will acquire up to 80.72 per cent stake in Sky Gate Hospitality, which operates brands including 'Biryani By Kilo', for ₹ 419.6 crore. The acquisition includes three brands of Sky Gate -- Biryani By Kilo, Goila Butter Chicken, and The Bhojan. The company's board in its meeting approved acquisition of up to 80.72 per cent equity stake for ₹ 419.6 crore, on fully diluted basis, in Sky Gate Hospitality Pvt Ltd along with its subsidiaries, Devyani International Ltd (DIL) said in a regulatory filing. In addition, the company will also pay contingent consideration as per the terms of the transaction documents, DIL said. DIL operates quick service restaurant chains such as KFC, Pizza Hut, and Costa Coffee through franchise agreements. Sky Gate along with its subsidiaries owns brands Biryani By Kilo, Goila Butter Chicken and The Bhojan. It predominantly operates through a chain of over 100 outlets including dine-in restaurants in more than 40 cities and is amongst the first ones to introduce the 'handi biryani' concept and deliver freshly prepared biryani, it added. Post the transaction, Sky Gate will become a subsidiary of the company, the filing added. "This strategic move aims to enhance DIL's presence in the Indian cuisine segment by integrating these well-established brands into its portfolio," the company said in a statement. Commenting on the acquisition, DIL Non- Executive Chairman, Ravi Jaipuria said,"While our portfolio boasts a diverse array of national and international brands, we identified a need to add traditional and authentic flavours of the much-loved Indian food to our portfolio." He further said,"Our partnership with Sky Gate addresses this, bringing their exceptional brands, Biryani By Kilo and Goila Butter Chicken, into our fold. Sky Gate's command over flavours and technique of cooking biryani, has enabled them to deliver high-quality and delectable dishes, making them standout and leader in the industry." Founded in 2015 by Kaushik Roy and Vishal Jindal, Sky Gate has emerged as a strong player in India's food delivery sector. "We are confident that our brands have found the right home for future growth and expansion of Sky Gate portfolio. Together, we aim to combine our knowledge and experience to enhance customer offerings and elevate the overall dining and delivery experience," Roy and Jindal said. With this acquisition, DIL said its brand portfolio now encompasses 10 diverse food and beverage brands, including recent additions like Tealive, Sanook Kitchen and New York Fries. "The acquisition of Biryani By Kilo, Goila Butter Chicken and The Bhojan, strengthens DIL's leadership position as one of the fastest-growing QSR chains in India," the company said. First Published: 24 Apr 2025, 08:38 PM IST
