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Lite Bite Foods, which runs restaurants under brands such as Punjab Grill and Asia Seven, is betting big on travel retail and outdoor and institutional catering segments.
The company recently bagged the rights for master concessionaire for three airports at Kozhikode, Indore and Bhubaneswar.
The restaurant chain runs a number of outlets at airports in New Delhi, Mumbai, Pune, Goa and Jammu. Amit Burman, Chairman, said: “Travel retail is a big growth area for us. We have recently won the rights for master concessionaire in three new airports at Kozhikode, Indore and Bhubaneswar. This will give a huge boost to our travel retail business. We expect to operate about 40-45 restaurants at these three airports in the next three months.”
The company will operate these restaurants under its own brands and partner with other international brands.
“Currently, about 40 per cent of our revenues come from the travel retail business and we expect its contribution to increase to about 55 per cent in the next 12 months,” he added. While the company will keep bidding for new airports, it will also explore opportunities in the travel retail segment at overseas airports.
Lite Bite Foods is also focussing on its institutional and outdoor catering business. “We are offering quality institutional and outdoor catering to companies and schools. We are focused on expanding this business. Currently, it contributes about ₹ 15 crore, we believe we can grow it to about ₹100 crore in the next three years,” Burman added.
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