Skygate brand contribution breakeven by March 2026
Management reiterated achieving brand contribution breakeven for Skygate by end of FY26, with steady progress reported.
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Devyani International · forward-looking guidance across the available source record.
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KFC store additions: 100-110 net new stores in FY26
KFC India on track to open 100-110 net new stores in FY26; 30 added in Q2.
Thailand KFC store additions: 20-21 stores in FY26
International business to add 20-21 KFC stores in Thailand during FY26.
Franchise and own brands: ~100 net new stores in FY26 with ~₹50 crore capex
Franchise and own brands (including Biryani by Kilo, Wango) to add ~100 net stores in FY26 with capex of about ₹50 crore.
Pizza Hut net store additions: zero in CY2026
Management plans no net new Pizza Hut stores in calendar 2026, focusing on shutting loss-making stores and maintaining store count broadly at Dec 2025 levels.
KFC store additions: 110-120 per year
Devyani plans to add 110-120 KFC stores annually, consistent with past guidance, post-merger.
Merger synergies: ₹210-225 crore annually
Estimated annual merger synergies from the Sapphire Foods merger are ₹210-225 crore, expected to be realized post-merger completion.
Corporate G&A: ~5% of revenue
Management guided corporate G&A at approximately 5% of revenue for FY27, excluding one-time items.
Net store additions of 200-225 in FY27
Management expects to add 200-225 net new stores in FY27, with KFC contributing 100-110 stores and the balance from Costa Coffee, Biryani by Kilo, and international businesses.
Merger with Sapphire Foods on track for completion by end of FY27
The proposed merger is progressing as per plan, with filings completed and CCI application expected shortly. Completion is targeted by end of the current fiscal year.
KFC SSSG trends expected to be sustained
Management indicated that the first 45 days of the current quarter show SSSG trends in line with Q4, and they are confident of maintaining the momentum barring macro shocks.