About Devyani International Limited

Devyani International Limited (DIL), part of the RJ Corp Group, is one of India’s largest quick service restaurant (QSR) operators and a leading player in the organized foodservices sector. Established in 1997 with its first Pizza Hut in Jaipur, the company today develops, manages, and operates QSRs and food courts across multiple brands and geographies.

DIL is the largest franchisee of Yum! Brands in India for KFC and Pizza Hut, and the exclusive franchisee for Costa Coffee. It also operates KFC in Nigeria and Thailand and both KFC and Pizza Hut in Nepal. As of March 31, 2025, DIL had 2,039 outlets across India and overseas, surpassing its FY26 target a year early. The India network included 696 KFC, 630 Pizza Hut, and 220 Costa Coffee stores. Its portfolio also features home-grown Vaango, Food Street food courts, and newly acquired brands such as Tealive, New York Fries, and Sanook Kitchen.

The company’s formats span dine-in restaurants, delivery-enabled outlets, cafés, and mall/transit-based food courts, supporting its “House of Brands” strategy.

Devyani International Limited’s Business Segments

• India (Core Brands): KFC, Pizza Hut, Costa Coffee. FY25 revenues were KFC ₹21,787 million, Pizza Hut ₹7,322 million, and Costa Coffee ₹1,985 million.

• International: KFC in Thailand and Nigeria; KFC and Pizza Hut in Nepal. Thailand had 306 stores by FY25.

• Other Businesses: Vaango, Food Street, and new formats like Tealive, Sanook Kitchen, and New York Fries.

Revenue (FY25): India ₹33,175m; Thailand ₹14,881m; other geographies ₹1,455m. Total revenue from operations: ₹49,511m.

Devyani International Limited’s Key Management

• Ravi Jaipuria – Non-Executive Chairman, provides strategic direction.

• Virag Joshi – Whole-time Director & CEO, oversees operations.

• Manish Dawar – Whole-time Director & CFO, leads finance and capital management.

Latest Updates (FY25) on Devyani International Limited

• Milestone: Crossed 2,000 stores in December 2024, adding 257 outlets in the year.

• Expansion: Thailand KFC network grew to 306 stores; positioned as a growth driver.

• M&A: Acquired Thailand’s Restaurants Development Co. in Jan 2024. In April 2025, approved acquiring 80.72% of Sky Gate Hospitality (brands include Biryani By Kilo, Goila Butter Chicken).

• Partnerships: JV with PVR INOX to operate mall-based food courts; first launched in Kota.

• Technology: Pizza Hut India adopted MoEngage for customer engagement.

• Performance: Revenue up 39% YoY to ₹49,511m; EBITDA ₹8,422m (17% margin); PBT ₹128m.