Millennium Post

Connaught Plaza to invest `500cr to double McD outlets

Connaught Plaza Restaurants, joint venture partner (North and East) of McDonald's, on Friday said that it plans to invest up to Rs 500 crore to double total number of outlets of the American fast food chain to 300 by 2015. This year, the company will add 45 outlets to its present outlet strength of 152 stores.

'The aim is to double the number of restaurants by 2015 with an estimated investment of Rs 450-500 crore. We will continue investing,' McDonald's India (North and East) managing director & JV Partner Vikram Bakshi said.

The company on Friday opened McDonald's largest outlet in India at Noida, spread across 8,000 sq ft as against an average outlet size of 3,500 sq ft.

'Flagship (outlets) like this is not a standard but we could look at opening more such stores depending upon demographics,' Bakshi said.
On the timing of the expansion, he said: 'This is the best time to grow. We can get better quality real estate and all resources are available. Most people slow down around this time.'While he did not share the exact turnover, Bakshi said the company is eyeing 30 per cent year-on-year growth in sales this year as against 25 per cent in 2012-13.

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