If we look at numbers, Inorbit Malls in Malad operate close to 35 restaurants whereas, Infiniti Mall in Malad is home to more than 40 plus restaurants, cafes and bars.
Restaurant businesses are cash-generating business and add immense value to a value PE/VC investors portfolio & balance sheet, however, post-pandemic it will have no choice but to adapt to newer and scalable business models.
With no physical presence, less commercial involvement and working as an internet restaurant wherein you can get the food delivered at the comfort of your home, cloud-kitchen segment is projected to become a $2 billion industry in India by 2024.
"The QSR channel is continuously growing in India with rise in literacy, disposable income, global exposure, easy availability of things and proliferation of internet," said Jaipuria during a press conference.
"Our main business is in the evening. Dining hours in the restaurants should be extended in the evening," added Shetty by pointing that the sector has already seen too any closures.
According to the industry experts, restaurant and bar workers have lost an estimated 2.3 million jobs, and, looking at the most recent projections, around one lakh eating establishments have closed permanently.
The Arvind Kejriwal led AAP government on Sunday announced that restaurants can now serve liquor, bars can open and also extended the operational hours by 10 PM.
According to a report, the Indian meat industry is estimated at US$ 31billion and is growing at a CAGR of 20% and is expected to reach US$ 65 billion by the year 2022.