The owner of Domino’s Pizza and Dunkin Donuts, Jubilant Foodworks Ltd., has announced its entry into the popular biryani market. The company will be introducing 20 new flavors of biryani at a very reasonable 99 bucks.
The news itself has shot the share prices of Jubilant Foodworks Ltd. to a record high.
The new brand for Biryani will be called Ekdum!
Read on to find out all the details!
Domino’s And Dunkin Donuts’ Owner To Launch New Platform For Biryani
Jubilant Foodworks is an Indian food delivery company based in Noida, Uttar Pradesh and holds the master franchise for the Domino’s Pizza Group in India, Nepal, Sri Lanka and Bangladesh, and also for Dunkin’ Donuts in India.
As per the filing by the company, “We see strong potential in this [biryani] segment and are confident that Ekdum!, with its sharp and differentiated proposition will create a strong position for itself in the market.”
There have been multiple reports about biryani being the most ordered item on the online food delivery platforms, Swiggy and Zomato in 2019 and 2020 as well.
Also, customers will now be able to select from a wide range of kebabs, curries, breads, desserts and beverages. There will also be a range of raitas and chutneys served to go with the above food items.
Share Prices Shoot Up; More Restaurants On The Way
Some of the types of Biryanis that will be introduced are Hyderabadi Nizami Biryani, Lucknowi Nawabi Biryani, Dindigul Biryani, Kolkata Biryani, Butter Chicken Biryani, Egg Biryani, Paneer Makhni Biryani, and Tawa Chicken Biryani.
According to the exchange filing, the brand will open three restaurants in Gurugram for delivery, takeaway and dine-in. After that, the company will also begin more restaurants in the National Capital Region over the next few months. There will also be an app, which will be easy to operate, and a mobile and desktop website as well. This will make it easier for customers to order online.
The shares of the company have increased by as much as 4.2% to Rs 2,788 apiece in early trade. The stock price has increased for a second day straight. Of the 33 analysts that are tracking the company, 21 have a ‘buy’ rating,and eight have suggested a ‘hold’, whereas, four recommended a ‘sell’. The stock is reportedly trading 10% higher than its 12 month Bloomberg consensus price target of Rs 2,437 apiece.