JRB Group eyes Rs 1,000 cr turnover by FY32

Mumbai, Dec 7 (PTI) JRB Group aims to reach about Rs 1,000 crore in revenue in the next five years, supported by expansion across its portfolio of brands, including Sagar Ratna, Swagath, and Ocean World, according to a senior company executive.

"The group revenue in 2024-25 stood at over Rs 450-400 crore. Currently, we are growing at 12-15 per cent annually from our existing business. With the major expansion plans we have lined up across our portfolio of brands, including Sagar Ratna, Swagath, and Ocean World, we expect to reach a revenue of Rs 900-1,000 crore over the next five years," JRB Group managing director Roshan Banan told PTI.

The Group is planning to double its south Indian vegetarian cuisine brand Sagar Ratna, with over 125 outlets across the country, in the next 3 to 5 years, he said.

"Today, we stand at the total count of Sagar Ratna franchise as well as company stores at around 170. This includes 10-12 outlets to be opened in the next six months. We expect to add another 26-27 outlets by FY27. We are mainly looking to expand in Uttar Pradesh, Rajasthan, Madhya Pradesh and Uttarakhand. Besides, we also have Bangalore and all major cities across all states on our radar for this growth," he added.

For this expansion of the Sagar Ratna brand, the company has a capex of Rs 30-35 crore, which will be spent over a span of two years (FY27), and funded through internal accruals and debt.

JRB Group operates its Sagar Ratna chain of restaurants through company-owned and franchise models.

However, Banan said, going forward, the company will slowly move away from the franchise model.

"We are sort of curtailing the franchise business, and we are going with the company-owned stores. Going forward, we are looking at about 80 per cent company-owned and 20 per cent franchise stores. We are mainly looking to expand in locations like malls, airports, high streets and food courts," he added.

Banan said the company is also foraying overseas in the next six months by opening two Sagar Ratna outlets in Europe.

"In December-March, we will be opening our first outlet in the Netherlands and Luxembourg, where the market is ripe and not very saturated. In the next three years, we will be covering the entire Europe. We plan to have our presence in every major country in Europe. America and Southeast Asia are also under our radar for overseas expansion," he said.

The company is keen on South Asian markets like Singapore, Malaysia and Japan for the opening of its Sagar Ratna outlet, he said, adding that JRB Group is planning to open one restaurant in Japan next year.

The company is also planning to expand its fine-dining coastal seafood cuisine brand Swagath, which currently has 13 outlets.

"For our Swagath brand, which operates completely in the company-owned model, we are very choosy and going slow with three outlets every year on average in India. We may have two outlets overseas per year as well. By FY27, we may have added around 5 outlets across India and maybe 2 overseas, one each in the Netherlands and Luxembourg," he said.

Talking about its hospitality brand Ocean World, Banan said, the company currently has 7 properties mainly based in Karnataka in the luxury 4-star category.

"In the next 5 years, we are adding 4 more properties, 2 in Tirupati and 2 in Bangalore, which are around 100-130-key hotels. Going forward, we are looking at Bangalore as the city is growing with a lot of IT companies entering.

"So, the demand for hotel rooms is also growing in the city. Even as we are limited to this region, but as and when the opportunity arises, we are open to operating in other parts of India as well," he added. PTI SM BAL BAL