Sagar Ratna and Swagath will get a third partner with the launch of a North Indian vegetarian chain. It is being specially launched for customers who don't eat onion and garlic and is mainly targeting the Jains and Marwaris. The name of this chain will be Shraman.
The first restaurant will come up in Delhi very soon. They are also extending their portfolio of offering and bringing out a range packaged snacks, pickles and ready-to-eat meals. These will be launched under the Swagath brand and will be taken care of by Roshan Banan, son of Jayaram Banan.
The company will continue its expansion for the other two ventures. 50 outlets for Sagar Ratna are set to open over the next one year through a combination of franchise and company-owned stores. For Swagath, four new stores have been planned this year.
The group is targeting revenues of close to Rs 200 crore by 2012-13, up from Rs 120 crore last fiscal.