Impresario: Impresario plans to record more than INR 1,000 crore in revenue in 3 years

Impresario Entertainment & Hospitality, which owns the Social, Mocha and Smoke House Deli brands, expects to reach more than Rs 1,000 crore in revenue in the next three years with 100 new outlets across the country, CEO Mayank Bhatt said. .

The company has received an infusion of Rs 50 crore from the India Return Fund (IndiaRF) this month.

“We look forward to closing the current financial year at over Rs 550 crore in revenue. The impresario as a whole had a strong first half of the financial year and we’re carrying that momentum into the third quarter as well,” said Bhatt.

“The first half of the fiscal year saw 15% growth in revenue for comparable outlets, compared to pre-Covid times, and the growth is expected to continue this quarter as well,” he told ET. The impresario has more than 60 outlets in 17 cities, with Social and Smoke House Deli having 35 and 11 outlets, respectively.

“This same year we are looking to add around 12 new outposts and enter Dehradun with Social and Smokehouse Deli,” said Bhatt. “For Impresario as a whole, Social and Smoke House Deli, our flagship brand, will lead the charge in terms of business growth and geographic expansion.” Bhatt was earlier the Head of Social Business.

“We will also look at expanding our delivery business. This includes not only Social and Smoke House Deli, but also our cloud kitchen brands like Boss Burger and Lucknowee, using our existing network of stores across the country,” he said. The company also promoted Satyajit Dhingra to the position of Chief Business Officer. Dhingra played a pivotal role in the expansion of Mocha.

The India Recovery Fund, promoted by Piramal Enterprises and Bain Capital, announced an investment of Rs 550 crore in an impresario leisure and hospitality company on November 14. After the deal, the India Recovery Fund became the majority shareholder of the impresario. Bhatt said the leak gives the company plenty of capital to achieve its growth plans and focus on “expansion all over India”. He said the blurred lines between metro and non-metro present “dynamic” growth opportunities.

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