Food Service India to invest up to ₹100 crore to cater to hotel/restaurant sector demand
The Hindu
FSIPL invests ₹100 crore by 2028 to meet HORECA industry demand, aiming for ₹1,000 crore revenue by 2028.
Food Service India Pvt Ltd. (FSIPL), which caters to the ready-to-cook and processed food sourcing requirements of the HORECA (Hotel, Restaurant, Catering) industry, has announced to invest upto ₹100 crore by 2028 to meet growing demand from this segment to deal with food price inflation and labour shortage, its Chairman & Managing Director Ajay Mariwala said in an interview.
“FSIPL has been at the forefront of providing innovative and ready-to-cook solutions to the HORECA industry, driving growth for our customers,” said Mr. Mariwala.
“We are helping them to manage inflation and to address the issue the less availability of labour. Also post Covid all institutions (institutional buyers) have decided to simplify their operations by sourcing processed and ready-to-cook products,” he said.
“The ready-to-cook segment is witnessing a surge in demand as restaurants, cloud kitchens, and food chains are seeking solutions to streamline operations while enhancing menu creativity,” he added.
The National Restaurant Association of India (NRAI) recently projected India’s food service market to reach ₹7.7 lakh crore by 2028, growing at a CAGR of 8.1%.
However, the company is growing at a much higher rate of 33% CAGR except for the Covid years. It is now eying a growth of 35% provided the sector does well.
In line with this FSIPL is targeting a revenue of ₹310 crore in FY25 as compared with ₹240 crore in FY24.
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