Latest news with #MadOverDonuts
New Indian Express
24-05-2025
- Business
- New Indian Express
Hole-y Delight! Mad Over Donuts Lands in Hyderabad
There's something about doughnuts that feels like childhood — sugary, soft and unapologetically indulgent. Now, that comforting bite of nostalgia has officially landed in Hyderabad with Mad Over Donuts (MOD) finally setting up their flagship store in the city. For years, people with a sweet tooth have waited, and now, the wait has a sprinkle-filled sweet reward. The doughnuts at MOD are soft, delicious, and a must-try, with flavours like Double Trouble, Kit Kat, and Brownie. With the new experiential donut setup, you can now customise your doughnut just the way you like it. The beverages served complement the doughnuts perfectly, making it an ideal combination. 'I think it was always on the cards for us to come in, and eventually we realised that Hyderabad is a market we just had to enter. As a brand, we've only expanded to six cities so far, but Hyderabad is such a receptive bakery and biryani go hand in hand. It felt like the right time to open our own store here,' says Tarak Bhattacharya, executive director and CEO of MOD. This isn't just another dessert outlet. MOD's Hyderabad store is one of its biggest flagships. The CEO expresses, 'What makes it special is the experiential doughnut activity. Kids, adults, and anyone can come and try their hands at doughnut-making. It's all about experiencing your own doughnut journey.' With the rising tide of health-conscious consumers, MOD is also preparing to evolve its menu. 'We're already in the process of R&D for our vegan and sugar-free doughnuts. I always say that when you indulge, you don't count calories. However, there is a segment that asks for healthier options, and we're working on that too,' reveals Tarak.
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Business Standard
28-04-2025
- Business
- Business Standard
Karnataka HC stays GST demand of over Rs 50 cr against Mad Over Donuts
Should a donut or any other bakery product sold by 'Mad-over-Donuts' be treated as a restaurant service and charged 5 per cent GST? Or it should be taxed 18 per cent GST by not classifying donut chains as restaurants at all? The Karnataka High Court (HC) will ponder over it and take a call in the next few days as it stayed a Goods and Services Tax (GST) demand of over ₹50 crore against the donut outlet on Friday. Food items sold outside a restaurant setting invite 18 per cent GST, while those served in restaurants are charged 5 per cent GST. Justice SR Krishna Kumar heard the case raising the question whether these products should be classified under restaurant services, attracting a concessional 5 per cent GST rate, or as bakery goods, which might attract a different tax treatment. A copy of the order was uploaded on Monday. Himesh Foods ('Mad Over Donuts'), represented by Advocate Abhishek A Rastogi, told the court that the supply of food products like donuts and cakes constitute a composite supply of services, as defined under the CGST Act. They said that the provision of food at restaurants, eateries, canteens, and messes -- whether consumed on-premises or taken away -- fall under the category of restaurant services, which are taxed at a lower GST rate of 5%. They also referred to a recent interim order of the Bombay High Court, which said that such supplies could be considered services under GST law. The Karnataka High Court said that since there was a prior undertaking by the tax authorities before the Bombay High Court, assuring that no coercive action would be taken while the classification issue was under consideration, the same should be applicable here as well. The court emphasised the importance of judicial consistency and agreed that no precipitative or coercive measures could be pursued by Karnataka's GST authorities during the pendency of the case. The next date of hearing is now on June 6. "… in the light of the undertaking given by the respondents (tax authorities) in relation to the very same petitioner ('Mad Over Donuts') before the Bombay High Court, respondents are directed not to take any precipitative/coercive steps till the next date of hearing,' the order said. Sandeep Sehgal, Partner of tax firm AKM Global, said, 'The company (Mad Over Donuts) pointed out that the Directorate General of GST Intelligence (DGGI) in Mumbai had already issued a consolidated notice covering similar tax issues across multiple states, including Karnataka. Despite this, the Karnataka State GST authorities attempted to raise a separate demand. The court's decision to grant relief to Mad Over Donuts highlights the importance of businesses monitoring overlapping tax actions and taking prompt steps when faced with duplicate proceedings.'
Time of India
22-04-2025
- Business
- Time of India
Finally, deals back on the menu for QSRs, cafe chains
India's quick service restaurant (QSR) and cafe industry is witnessing a revival in deal activity after a lull of five quarters, aided by a gradual recovery in demand, industry executives and private equity (PE) companies said. Homegrown chains Mad Over Donuts, Biggies Burger and Theobroma are in the final stages of raising funds from PE investors or family offices, executives directly aware of the developments said. This follows nearly a dozen angel and seed-stage funding deals in the space over the past few weeks. On Monday, diversified entrepreneur Ravi Jaipuria-backed Devyani International , which operates global fast-food chains KFC, Pizza Hut and Costa Coffee, said it is acquiring a controlling stake in Sky Gate Hospitality, which operates domestic chain Biryani By Kilo. Last week, Wow! Momo raised '150 crore from Haldiram promoter Kamal Agrawal and Malaysia's wealth fund Khazanah Nasional. 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 default , selected 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. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Air conditioners without external unit. (click to see prices) Air Condition | Search Ads Search Now Undo Earlier this month, cafe chain Nothing Before Coffee, which focuses on tier-2 markets, raised $2.3 million in a funding round led by venture capital firm Prath Ventures. Live Events "The sector has picked up due to a combination of factors," said Sagar Daryani, president of the National Restaurants Association of India (NRAI). These include restaurants adopting low capex and opex models and value-for-money pricing, leading to multiple dining-in and repeat orders, as well as a shift in consumer habits with people increasingly preferring ordering in, OTT streaming over multiplexes, and house parties over hangouts - which "are all driving the turnaround," he said. "Also, Gen Z consumers who are deal seekers, want convenience and digital-first experiences are fuelling QSR growth," said Daryani who is also a cofounder of Wow! Momo. NRAI represents over 500,000 restaurants in the country. Executives say investors are preferring to invest in QSRs as part of their overall consumer investment strategies . "The transaction by Devyani International furnishes an alternative expansion lever, with synergistic upsides and potentially greater importance in the delivery sector compared to their primary KFC portfolio," Nuvama Institutional Equities wrote in a report on Tuesday. Another large recent deal was cloud kitchen startup Rebel Foods - which operates Oven Story Pizza, Lunchbox, Faasos and Behrouz Biryani - raising a fresh funding round from investment firm KKR in December. "Industry growth tailwinds and proven penetration beyond the top 20 cities to the next 50 cities provide good growth visibility," said a fund manager from a Mumbai-based homegrown PE fund who requested anonymity. "Scalable QSR businesses have strong payback periods and, therefore, high return on capital." Domino's Pizza and Popeyes operator Jubilant FoodWorks (JFL), which held its first analyst meet this February, said it is opting for a strategy of prioritising customer acquisition over price-led growth. It is relaunching its loyalty programme and may experiment with sub-franchising. Company chief Sameer Khetarpal outlined in the meet that store expansion would be central to its strategy with plans to open an additional 1,000 Domino's Pizza stores by FY28, set up four more commissaries by FY28, and focus on integrated supply chain with in-house sourcing of key ingredients. The QSR sector is expected to see a turnaround in the current fiscal after a tough year, aided by gradual demand recovery and improving operating leverage, Bernstein Research said in a report.
Hans India
22-04-2025
- Business
- Hans India
Mad Over Donuts forays into Hyd mkt
Hyderabad: Popular gourmet donut chain Mad Over Donuts, the Singapore-based donut brand, has officially entered the Hyderabad market, opening its first outlet at Sarath City Capital Mall. The launch marks the brand's continued expansion across India, following successful operations in cities like Delhi and Mumbai. Expressing happiness over the launch, Tarak Bhattacharya, Executive Director and CEO of the company said, 'Hyderabad has always welcomed new brands with open arms, and we're fortunate to experience the same. In just two days of sampling, the response has been overwhelming, with long queues and enthusiastic feedback from customers,' he said. To offer a behind-the-scenes look at their operations, the brand organised a live demonstration of how their donuts are crafted in-store. 'We want people to understand the quality and care we put into every donut,' Bhattacharya added. 'We aim to open at least five more stores in the next three to four months. All our outlets are 100 per cent company-owned, with no franchise operations, ensuring consistency and quality across locations,' he added. Mad Over Donuts is all set to become a go-to destination for dessert lovers in city.
United News of India
21-04-2025
- Business
- United News of India
Mad Over Donuts opens first outlet in Hyderabad
Hyderabad, Apr 21 (UNI) Mad Over Donuts, the Singapore-based gourmet donut brand, launched its 170th outlet—and its first in Hyderabad—at Sarath City Capital Mall in Gachibowli, on Monday. Speaking at the inauguration, Company's Executive Director and CEO Tarak Bhattacharya announced the brand's plans to open five more outlets in Hyderabad over the next five months, including locations in Banjara Hills and Jubilee Hills. With a strong presence across India and a 100 percent company-owned store model, the brand aims to expand to 500 stores nationwide within the next five years, creating over 2,000 jobs in the process. The Hyderabad outlet features over 30 varieties of donuts, along with brownies, éclairs, coffees, and bubble teas. Bhattacharya emphasised that all products are 100 per cent vegetarian and ingredients are sourced globally but assembled locally. Positioning itself as an "experiential store," customers can even customize their own donuts. The company, which currently employs around 600 staff, plans to collaborate with local talent as it scales up its operations in India and explores international markets, starting with Southeast Asia. UNI VV CS
