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Moti Mahal in diversification mode now
Plans afoot to bring IPO and start chain of hotels across India
Maulik Buch. Vadodara
Moti Mahal, Delhi-based chain of restaurants, started its first franchise in Vadodara on Wednesday. A small food corner, which had started serving food lovers in Dariyaganj at Delhi in 1947, has a come long way and plans to have restaurants all over Gujarat by 2008. But there is more in store. "We plan to start a chain of hotels with an IPO by 2010 and start a fastfood brand too," says managing director (MD) of Moti Mahal, Monish Gujral.In an exclusive talk with DNA, Gujral talked about his expansion plans and diversification into hotels business supported by an IPO by 2010. "This is a tribute to my grandfather Kundan Lal Gujral, who had originally started Moti Mahal in 1920 at Peshawar," he says."This restaurant is named Moti Mahal's Tandoori Trail as it signifies the Moti Mahal's culinary trail from Peshawar to Delhi. In fact Moti Mahal was the first Indian Restaurant to introduce Mughlai cuisine to the world," Gujral says about the origin of the famous eatery.Detailing his future plans, he says, "We are launching a US fastfood brand - DNY Bread Bar. The specialty of this brand is that it propagates the Turkish style of flat bread, which is very much in accordance to Indian flavor. We will launch our first joint of DNY Bread Bar by first week of February in the Vasant Vihar area of New Delhi."Moti Mahal will start with six franchisee in Gujarat covering Ahmedabad , Surat by September 2008. At present, there are 52 branches across the country. The company intends to achieve a target of 75 branches by the end of 2008. "We are planning a chain of small bouquet hotels by 2010 .The first phase of the investment will be private equity participations," while the next phase will be followed by an IPO in 2010. The Moti Mahal's tandoori trail has entered Dubai and Australia also. The pricing structure of the outlets is such that it can become favorite food joint of elite as well as the middle class people.
Plans afoot to bring IPO and start chain of hotels across India
Maulik Buch. Vadodara
Moti Mahal, Delhi-based chain of restaurants, started its first franchise in Vadodara on Wednesday. A small food corner, which had started serving food lovers in Dariyaganj at Delhi in 1947, has a come long way and plans to have restaurants all over Gujarat by 2008. But there is more in store. "We plan to start a chain of hotels with an IPO by 2010 and start a fastfood brand too," says managing director (MD) of Moti Mahal, Monish Gujral.In an exclusive talk with DNA, Gujral talked about his expansion plans and diversification into hotels business supported by an IPO by 2010. "This is a tribute to my grandfather Kundan Lal Gujral, who had originally started Moti Mahal in 1920 at Peshawar," he says."This restaurant is named Moti Mahal's Tandoori Trail as it signifies the Moti Mahal's culinary trail from Peshawar to Delhi. In fact Moti Mahal was the first Indian Restaurant to introduce Mughlai cuisine to the world," Gujral says about the origin of the famous eatery.Detailing his future plans, he says, "We are launching a US fastfood brand - DNY Bread Bar. The specialty of this brand is that it propagates the Turkish style of flat bread, which is very much in accordance to Indian flavor. We will launch our first joint of DNY Bread Bar by first week of February in the Vasant Vihar area of New Delhi."Moti Mahal will start with six franchisee in Gujarat covering Ahmedabad , Surat by September 2008. At present, there are 52 branches across the country. The company intends to achieve a target of 75 branches by the end of 2008. "We are planning a chain of small bouquet hotels by 2010 .The first phase of the investment will be private equity participations," while the next phase will be followed by an IPO in 2010. The Moti Mahal's tandoori trail has entered Dubai and Australia also. The pricing structure of the outlets is such that it can become favorite food joint of elite as well as the middle class people.
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