Mast Kalandar, the QSR chain run by Spring Leaf Retail raises $6 million from risk capital firm Helion Venture Partners and Footprint Ventures. Till date Mast Kalandar has raised a total of $11 million in equity capital.
The QSR chains are now seeing a faster growth in terms of profitability and are gaining prominence among consumers. This can be well seen in successful Jubilant Foodworks and Speciality Restaurants.
According to Kanwaljit Singh, senior managing director of Helion Ventures Partners, slightly mature food and beverage start-ups will be valued at a range of 2 to 2.5 times revenue.
Though international players have had an early lead but regional players are now emerging as they expand their footprints in India.
According to Gaurav Mahajan, Co-founder, Mast Kalandar, becoming profitable at the unit level is very important for a quick service food chain. “We have a healthy EBITDA at the unit level and are targeting a revenue run rate of . 100 crore for the fiscal year 2014-15.”