Devyani International is the largest franchisee of Yum Brands in India and are among the largest operators of chain quick service restaurants (QSR) in India, on a non-exclusive basis, and operate 655 stores across 155 cities in India, as of March 31, 2021, and 696 stores across 166 cities in India, as of June 30, 2021. Yum! Brands Inc. operates brands such as KFC, Pizza Hut and Taco Bell brands and has presence globally with more than 50,000 restaurants in over 150 countries, as of December 31, 20201. In addition, it is a franchisee for the Costa Coffee brand and stores in India.
The company’s business is broadly classified into three verticals that includes stores of KFC, Pizza Hut and Costa Coffee operated in India (KFC, Pizza Hut and Costa Coffee referred to as Core Brands, and such business in India referred to as the Core Brands Business); stores operated outside India primarily comprising KFC and Pizza Hut stores operated in Nepal and Nigeria (International Business); and certain other operations in the F&B industry, including stores of its own brands such as Vaango and Food Street (Other Business).
Business area of the company
The company is the largest franchisee of Yum Brands in India and is among the largest chain operators of quick service restaurants (QSR) in India on a non-exclusive basis.
Awards and accreditations
2015: The Company’s brand Vaango was recognised as a “Promising Brand” by the Economic Times.
2018: The company was certified as a “Great Workplace” by the Great Place to Work Institute, India.
2018: Costa Coffee (T3 International Departure Pier) was awarded the Certificate of Excellence for Outlet of the Year- F&B (International)” by Delhi International Airport Limited at the IGIA Awards 2018.
2018: Grid Bar (T3 Domestic Departure Food Court) was awarded the Certificate of Excellence for Outlet of the Year- F&B (Domestic) by Delhi International Airport Limited at the IGIA Awards 2018.
2019: Pizza Hut and KFC were recognised among the “Most Trusted Brands” in Food Services category in Brand Equity Survey conducted by The Economic Times.
2020: The company was recognised as one of “India’s 100 Best Workplaces for Women 2020” by the Great Place to Work Institute, India.
Major events and milestones
1992: Incorporation of the Company.
1997: The company signed a development agreement with PepsiCo Restaurants International (India) for opening Pizza Hut outlets in North India, pursuant to which its first Pizza Hut outlet was opened in Jaipur.
2002: The company acquired Speciality Restaurants.
2003: Tricon Restaurants (India) issued a letter of intent to the Company for opening Pizza Hut outlets in Kolkata.
2004: Speciality Restaurants Private limited was merged in the Company.
2004: Yum India issued a letter of intent to the Company for opening KFC outlets in Kolkata.
2005: The company signed an International Development Agreement with Costa for opening Costa Coffee outlets in India.
2005: The company’s first KFC store opened in Kolkata.
2010: Opened the first KFC outlet in Nigeria.
2010: Opened the first KFC and Pizza Hut outlets in Nepal.
2010: Devyani Food Street formed in a joint venture with Delhi International Airport and the company.
2011: The company launched its own brand for South Indian QSR- Vaango.
2012: First Pizza Hut Delivery opened in Nepal.
2012: The company acquired 60% stake in Delhi Select Service Hospitality.
2012: IDBI Trusteeship Services, acting through its investment manager, ICICI Venture Funds Management Company invested Rs 991.41 million in the company.
2015: The company acquired Pizza Hut delivery outlets from Yum India in Western and Southern India.
2015: Dunearn invested $4 billion in the Company.
2016: The company acquired the balance 40% stake in DFSPL from Delhi International Airport for an aggregate consideration of $49.20 million.
2017: The company entered into a concession agreement with GMR Hyderabad International Airport to operate and maintain the food court of Hyderabad Airport under the brand name ‘Food Street’.
2019: The company entered into an agreement with Yum India for acquisition of 13 KFC outlets.
2020: The Company entered into an agreement with Yum India for acquisition of 61 KFC outlets.
2021: Yum India invested Rs 2.3 billion in the company.