The plan is to open 15 premium lounges and cafes across India.
Gurgaon-based Yuvi Hospitality has secured INR 100 crore from Chandralekha Construction to fuel its expansion plans. The company plans to open 15 premium dining lounges and cafes across the country.
“There are around 15 new restaurants that we will open with this investment. Molecule is one such restaurant brand that will be opened this month in Gurgaon,” said Vivek Bhargava, director, Yuvi Hospitality.
It has also finalised a property in Connaught Place, Delhi, to open another fine-dine restaurant. “The company wants to diversify its business and is looking forward to investing in interesting projects in growing industries such as F&B,” said HP Singh, MD, Chandralekha Construction.
Bhargava has also partnered with another four different hospitality companies to open premium, single-brand food concepts such as Unplugged, Uncensored, Emly and Ab ki Bar in the next six months.
India’s restaurant segment has already attracted about INR 649 crore in private equity investments so far this year, according to industry data. In 2014, USD 128 million had flowed into the segment through 14 deals.
