Westlife Development unveils growth plans to mark 25 years in India

Westlife Development, the owner and operator of McDonald's restaurants in the west and south of India is celebrating its 25 years in India. On this occasion, the brand unveiled its growth plans for the next few years. Vice-Chairman Mr Amit Jatia said that in the last 25 years, the company has made a significant mark in the country and is looking forward to bigger strides in the coming years. The company will look at adding another 150-200 stores in the next 3-4 years. It will strengthen its leadership position in the burger, chicken and beverage segments further and aid the growth of the organized eating out market. To mark its 25th year in India and to further strengthen its leadership in the burger category, the company recently unveiled a new range of indulgent Gourmet Burgers.

The company is looking to invest 800-1000 crore rupees across the business over the next 3-4 years. This investment will go towards increasing the footprint, menu innovations, strengthening the company's supply chain, increasing its omnichannel presence and elevating consumer experience. All these initiatives are expected to create 6000-8000 direct and indirect jobs in the industry.

The next phase of growth for Westlife Development will see the company adopt more cutting-edge technology and data analytical tools as it endeavours to provide a personalised, feature-rich experience to consumers. The company is also committed to integrating more ESG practices into its business model to enhance overall competitiveness of the domestic QSR industry.

Shares of Westlife Development Ltd was last trading in BSE at Rs. 566.75 as compared to the previous close of Rs. 562.00. The total number of shares traded during the day was 209559 in over 987 trades.

The stock hit an intraday high of Rs. 569.40 and intraday low of 557.65. The net turnover during the day was Rs. 118403563.00.

Source : Equity Bulls

Keywords

WestlifeDevelopment INE274F01020 Restaurants McDonalds 25Years QSR