Massive Restaurants to launch pan-Asian bistro in Mumbai
Massive Restaurants, which owns and operates a chain of dining establishments, said it will open a pan-Asian bistro in Mumbai soon.
The bistro, called PAPA-YA, will serve Japanese, Thai, Vietnamese, Cambodian and Chinese cuisines in an “innovative and quirky way”, the Gurgaon-based company said.
This will be the fourth restaurant brand from Massive Restaurants that runs the Indian-themed Masala Library, Made in Punjab and Farzi Cafe chain of restaurants and cafes.
“We are opening a new pan-Asian restaurant PAPA-YA in Mumbai's Palladium mall in four months from now,” said Zorawar Kalra, founder and MD at Massive Restaurants. “It will be our take on modern Asian food,” he said, adding that the modern bistro concept is going to redefine Asian food on a global scale.
Kalra said they have chosen to name the bistro PAPA-YA as papaya is the most common ingredient in pan-Asian cuisines.
The restaurant, spread over 2,200 square feet, will entail an investment of Rs 2.5 crore. Meal for one person will cost between Rs 600 and Rs 800.
Kalra said the company will open one more PAPA-YA restaurant in Mumbai and one in Delhi-NCR region this year, locations for which have already been signed.
“We are going to innovate and create pan-Asian dishes in a way which not even Southeast Asians have done,” he said.
Massive Restaurants, which opened its first restaurant, Masala Library, in October 2013, achieved full return on investment in the first year of its operation. The company is now raising its second round of funds, which is expected to be in the range of Rs 30-50 crore.
“When we close our balance sheet in March 2015, we will be a PAT (profit after tax) level positive company,” Kalra said, adding that Massive Restaurants has touched an annualised revenue run-rate of Rs 40 crore in the first year of operation.
Kalra, who is aiming to list his company in four years, plans to take its most successful restaurants—Masala Library and Farzi Cafe—to Dubai in the next six months. The company is also looking to expand to other overseas markets, negotiations for which are at an advanced stage.
“We are going to open three more Made in Punjab restaurants, one each in Mumbai and Noida, taking its tally to five by the end of 2015,” Kalra said.
The company’s fifth brand—Mithai by Jiggs Kalra, a premium Indian sweets shop—is also expected to make its debut this year.