Westlife Development resumes new store openings

After charting a quick recovery from the COVID-19 led business impact, Westlife Development Limited has resumed new store openings across its markets. The Company has opened four new stores post March 2020 as it steadily continues to move towards pre-COVID levels of business.

The Company has opened two new stores in the Mumbai suburban area and one in Cochin. Another new restaurant is on the Mumbai-Pune highway, that is set to commence operations on December 31st. All these stores are the new contemporary 'Experience of The Future' restaurants and house the Company's in-house coffee chain McCafé.

The fact that the Company has resumed new store opening is a reinforcement of its omni-channel strategy and its confidence in the long-term opportunities in the West and South India market. Over the last two quarters, the Company has been seeing healthy recovery in business with dinein building up rapidly even as its convenience channels continue to grow steadily.

In another development, the royalty for FY21 as also FY 22 remains at 4%. The updated royalty details of the franchise agreement are available on the website www.westlife.co.in.

Over the last 25 years, the Company has invested significantly in building a rock-solid foundation for the business to ensure strong resilience. Its uniquely diversified portfolio of real estate, robust backward-integrated supply chain, high levels of brand trust and a menu that's relevant for all customer segments and day-parts, all played a pivotal role in supporting quick and strong recovery.

Shares of WESTLIFE DEVELOPMENT LTD. was last trading in BSE at Rs.432 as compared to the previous close of Rs. 428.8. The total number of shares traded during the day was 4688 in over 256 trades.

The stock hit an intraday high of Rs. 438 and intraday low of 421.05. The net turnover during the day was Rs. 2019651.

Source : Equity Bulls

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