Paradise Biryani Targets 3x Expansion With ₹100 Cr Fundraise Plan

Paradise Biryani, a Hyderabad-based franchise, is looking to raise around ₹100 crore to fund an aggressive expansion drive that would take its outlet count from 57 to nearly 160 stores over the next three years, according to an Economic Times report published today.

The six-decade-old Hyderabad institution that Samara Capital has owned outright since 2022, is in talks to bring in a new investor — likely a family office — by diluting a 10-12% stake worth roughly ₹100 crore. The capital will be raised for growth, and the targets are ambitious: 100 new outlets in three years, taking the current network of 57 stores to nearly 160.

The cities on the expansion list — Pune, Kolkata, New Delhi, Guntur, Warangal — tell their own story. Paradise has spent years consolidating its presence across the south, operating in Hyderabad, Bengaluru, Chennai, Vijayawada, Visakhapatnam and Gurugram.

Annual revenues of the brand currently stand at around ₹300 crore across 57 outlets. Samara, which paid ₹70 crore for a 35% stake in 2014 and then acquired the remaining 65% from the original promoters for ₹400 crore in 2022.

Managing Director and Chief Executive Abhik Mitra has described the strategy as aggressive.

A Market on the Move

The fundraiser arrives at a favourable moment for the biryani segment. Rising online food delivery volumes, stronger consumer spending and a growing preference for organised restaurant chains over unbranded alternatives are all working in the sector's favour.

The ET noted that in 2021, the family office of the Havells Group invested in rival biryani chain Dindigul Thalappakatti at a valuation of ₹860 crore — a data point that illustrates how seriously institutional capital has begun to take the category.

According to a report by CNBC TV18, the biryani chain announced in 2022 to expand its presence to 500 restaurants across the country by 2026-27. International expansion was also on the cards for the Biryani chain where it was looking to open in the US, UK, West Asia, and Southeast Asian countries that have a high diaspora population, the report said.