Mexican fast-casual restaurant chain California Burrito has plans to open 15 restaurants across India by the end of 2019 as part of its expansion plans in the country, a top company official said. The company currently has 31 restaurants across Bengaluru and Delhi/ NCR.
“We plan to add 15 restaurants in Delhi/NCR and Bengaluru by the end of the year as part of our expansion plans across India,” Dharam Khalsa, Co-founder and Director, California Burrito told PTI.
According to a PTI report: The company also has central kitchen in Bengaluru and plans to open one in Gurgugram, he added.
On being asked about how the company plans to fund the expansion, Khalsa told PTI: “It will be through internal accruals, money left from our earlier funding round from SNAM Group of companies, and we are also taking some debt for this.”
Stating that the future for food service sector in India will be huge, former Jubilant FoodWorks CEO Ajay Kaul, who is an strategic advisor to California Burrito, was quoted by PTI as saying: “As we rise in our economic portfolio, it will lead to discretionary consumption in next 5 to 7 years.”
This will result in a big growth for restaurants such as California Burrito going forward. Moreover, as founders of this company are running operations frugally and the firm is profitable, it has huge growth potential, he added.
California Burrito started its operations in India in October 2012.