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21 Apr 2019, 10:21 HRS IST
  • PTI
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  • Lenexis to invest Rs 100 cr to open 100-150 Wok Express

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19:5 HRS IST

Mumbai, May 10 (PTI)
Lenexis FoodWorks, the owner of quick service restaurant (QSR) chain Wok Express, is planning to invest Rs 100 crore to expand its presence to up to 150 locations in the next five years.

The company at present has 25 Wok Express outlets in Mumbai and its surrounding areas.

"In the next five years, we are planning to add 100-150 restaurants in Bangalore, Delhi, Hyderabad, Mumbai and Pune. We have already invested Rs 30 crore and will invest another Rs 100 crore to fund this expansion," Lenexis FoodWorks director Aayush Agrawal told PTI here.

"The funds will come from internal accruals, and we have no plans to raise funds from external sources," he added.

The firm's revenue grew by 78.8 per cent in fiscal 2017-18, and Agrawal said he expects a two-fold growth in revenue in this financial year on the back of expansion.

"We are planning to add 30 restaurants across Mumbai, Pune and Delhi this year," he said, adding the company is expecting to achieve break even in two years.

The QSR chain currently employs 500 people, which is expected to double in the next five years, according to him.

Agrawal said the company targets youth in the age group of 1530 years who are looking beyond burgers and pizzas.

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