RJ co inks JV with GMR for food retail chain

Entering into a joint venture with GMR, Ravi Jaipuria-owned Devyani International (DIL) has plans to set up multiple food retail outlets at the Delhi International Airport. The details of the JV are still being worked out. The Rs 250-crore DIL, is now venturing into the restaurant retail chain space under its own brands. It is the Indian franchisee of global food retail chains Pizza Hut, KFC and coffee chain Costa Coffee. Setting up a nationwide chain of restaurants under three different brands — Southern Spirit, Curry Republic and Oriental Cuisine, DIL now plans on setting up a food court at the Delhi domestic airport that houses Pizza Hut, KFC, Costa Coffee and PepsiCo beverages and Cream Bell ice-cream. DIL is planning to set up similar food courts at Jaipur, Amritsar and Chandigarh airports. The company has already put in tenders with the Airports Authority of India for the same. Plans are meanwhile afoot to set up a 24-hour bar at the Delhi domestic airport. Apart from that, DIL will explore setting up standalone restaurants that it will manage on its own, beginning with 100 Southern Spirit restaurants over the next four to five years, starting with Delhi-NCR. On an average, the investment on a food court of about 12,000 sq. ft involves a cost of close to Rs 10 crore (excluding rentals).