{"id":1959,"date":"2012-12-07T12:21:05","date_gmt":"2012-12-07T12:21:05","guid":{"rendered":"http:\/\/www.franchisemart.in\/franchise\/?p=1959"},"modified":"2012-12-07T12:21:05","modified_gmt":"2012-12-07T12:21:05","slug":"mcdonalds-franchisee-of-india-to-plan-collaboration-with-listed-indian-parent","status":"publish","type":"post","link":"https:\/\/www.franchisemart.in\/franchise\/mcdonalds-franchisee-of-india-to-plan-collaboration-with-listed-indian-parent\/","title":{"rendered":"McDonald’s Franchisee of India to Plan Collaboration With Listed Indian Parent"},"content":{"rendered":"

\"\"<\/a>The privately-held franchisee of McDonald’s Corp. (MCD) for south and west India Friday said it plans to merge with its India-listed parent, a move that will allow investors to benefit from the rapid growth of the U.S. fast food chain in the South Asian nation.<\/p>\n

Hardcastle Restaurants Pvt. Ltd.–a master franchisee of McDonald’s restaurants in west and south India–will become a direct subsidiary of India-listed Westlife Development Ltd., a press release from the Indian company said. It didn’t specify a timeline for the change.<\/p>\n

Rising incomes in a country of nearly 1.2 billion people has attracted Western food chains as young Indians are increasingly willing to spend on food and entertainment.<\/p>\n

In October, Starbucks Corp. tied up with India’s Tata Group to open the first of three outlets in the country. Dunkin’ Brands Inc. has five outlets in India, operated in partnership with a local Indian company. Dunkin’ Brands also runs 473 Baskin Robbins ice-cream parlors in India through a franchise agreement.<\/p>\n

“The consolidation of our companies under Westlife Development opens up options for us to accelerate our growth plans for expanding McDonald’s restaurants in west and south India,” Westlife Vice-Chairman Mr. Amit Jatia said.<\/p>\n

Hardcastle Restaurants’ net profit for the Indian financial year ended March was 425.1 million rupees ($7.8 million), up 126% from the previous year, the press release said. Revenue for the period rose 44% on-year to 5.44 billion rupees, it said.<\/p>\n

The company has 148 restaurants across west and south India to date, up 20% from a year earlier. Capital expenditure in the last fiscal year was 780 million rupees.<\/p>\n