Mind Curries Hospitality Pvt Ltd has chalked out an expansion plan to set up a chain of restaurants in different formats after raising funds from an affluent individual.
The New Delhi-based company founded by entrepreneur Bhanu Nehra plans to initially invest Rs 70 crore to open four to five restaurants in Delhi NCR, Mumbai, Pune and Bangalore by the end of this year.
Nehra, brother of cricketer Ashish Nehra, told VCCircle he has put in 25% of the total planned investment himself. The remaining amount has been raised from Manish Goyal, who invested through two companies—Delhi-based Gayatri Tradex Pvt Ltd and Dubai-based Art fransi General Trading LLC.
Nehra, who entered the restaurant business three years ago with Mia Bella in Delhi’s Hauz Khas area, said Mind Curries will launch several restaurant brands including Janpath Grill House, Office Office and Micro Mini Breweries, as well as restaurants inspired from popular cartoon characters.
The company is set to launch its first barbecue restaurant Janpath Grill House and a co-working space-cum-pub Office Office in Connaught Place, Delhi. It has so far invested Rs 6.5 crore in the two properties, Nehra said.
“We will open two more Janpath Grill House restaurants, one in West Delhi and another in Gurgaon, by 2017 end. Also, we are planning to open three more Office Office outlets in Mumbai, Pune and Bangalore by 2018.”
The company’s Micro Mini Breweries brand will be small outlets that will be opened in corporate hubs in Gurgaon, Mumbai, Pune, Bangalore and Hyderabad. The company aims to open 20 such outlets by the end of 2020.
In addition, the company plans to open restaurants inspired from comic characters. It has finalised two characters and have got trademarks for them in India. It is also looking to get the rights for some more cartoon characters.
“Our first restaurant will be called ‘Yabadabadoo’ and another will be ‘Scooby Bar’ based on Scooby Doo cartoon character. The first Yabadabadoo restaurant will be opened in Delhi NCR in 2017. One city will have one comic character-based restaurant,” Nehra said.
Mind Curries, which has set an ambitious revenue target of Rs 100 crore by 2020, aims to raise another round of funding after 2017 as Nehra says the Rs 70 crore capital is sufficient to fund the company’s plans till next year.
Like this report? Sign up for our daily newsletter to get our top reports.