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Westlife Development gains as its arm aims Rs 2,500 crore topline by 2022

is currently trading at Rs. 307.00, up by 0.80 points or 0.26% from its previous closing of Rs. 306.20 on the BSE.

The scrip opened at Rs. 306.20 and has touched a high and low of Rs. 315.05 and Rs. 302.60 respectively. So far 3089339 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 454.45 on 15-Mar-2019 and a 52 week low of Rs. 286.90 on 09-Oct-2018.

Last one week high and low of the scrip stood at Rs. 315.05 and Rs. 299.60 respectively. The current market cap of the company is Rs. 4793.83 crore.

The promoters holding in the company stood at 62.16%, while Institutions and Non-Institutions held 22.57% and 15.26% respectively.

Hardcastle Restaurants (HRPL), a Master Franchisee for West & South India operations of McDonald’s restaurants and a subsidiary of the Westlife Development, is aiming a topline of Rs 2,500 crore by 2022 when it will have 400 stores on an investment of around Rs 500 crore.

Westlife Development that owns Hardcastle Restaurants had reported a revenue of Rs 1,401.6 crore in FY19.

Westlife Development focuses on putting up and operating Quick Service Restaurants (QSR) in India through its subsidiary HRPL. The Company operates a chain of McDonald’s restaurants in west and south India, having a master franchisee relationship with McDonald’s Corporation USA, through the latter’s Indian subsidiary.

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