Westlife Development skyrockets 9% on unveiling growth plans to mark 25 years in India

The owner and operator of McDonald’s restaurants in the west and south of India will look at adding another 150-200 stores in the next 3-4 years.

Oct 14, 2021 09:10 IST India Infoline News Service

westLife
Westlife Development Limited, the owner and operator of McDonald’s restaurants in the west and south of India is celebrating its 25 years in India. On this occasion, the brand unveiled its growth plans for the next few years.

Vice-Chairman Amit Jatia said that in the last 25 years, the company has made a significant mark in the country and is looking forward to bigger strides in the coming years. The company will look at adding another 150-200 stores in the next 3-4 years. It will strengthen its leadership position in the burger, chicken, and beverage segments further and aid the growth of the organized eating out market.

The company stock was in demand on Thursday and at around 9.25 am, Westlife Development Ltd was trading at Rs618.05 per piece up by Rs51.3 or 9.05% from its previous closing of Rs566.75 per piece on the BSE. The scrip opened at Rs640 and has touched a high and low of Rs640 and Rs606.60 respectively.

To mark its 25th year in India and to further strengthen its leadership in the burger category, the company recently unveiled a new range of indulgent Gourmet Burgers.

The company is looking to invest 800-1000 crore rupees across the business over the next 3-4 years. This investment will go towards increasing the footprint, menu innovations, strengthening the company’s supply chain, increasing its omnichannel presence and elevating consumer experience. All these initiatives are expected to create 6000-8000 direct and indirect jobs in the industry.

The next phase of growth for Westlife Development will see the company adopt more cutting-edge technology and data analytical tools as it endeavours to provide a personalised, feature-rich experience to consumers. The company is also committed to integrating more ESG practices into its business model to enhance overall competitiveness of the domestic QSR industry.

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