The Impresario: The Impresario Plans to Earn Over 1,000 Crores of Income in 3 Years

impresario Entertainment and hospitality business that owns the brands Socialmocha and smoke House Delhiexpects to reach more than 1,000 crore in revenue over the next three years by opening 100 new outlets across the country, said CEO Mayank Bhatt.

The company received a £50 crore infusion of funds from Indian Renaissance Foundation (IndiaRF) this month.

“We expect to close the current financial year with over £550 crore in revenue. The Impresario has had a strong first half of the financial year overall, and we are continuing that momentum into the third quarter,” he said. Bhatt.

“Like-store revenue in the first half of the fiscal year was up 15% from pre-pandemic, and that growth should continue into this quarter,” he told ET. Impresario has over 60 outlets in 17 cities, while Social and Smoke House Deli have 35 and 11 outlets respectively.

“This year we are going to add about 12 new outposts and enter Dehradun with both Social and Smoke House Deli,” said Bhatt. “For Impresario as a whole, Social and Smoke House Deli, our two flagship brands, will lead the way in terms of business growth and geographic expansion.” Previously, Bhatt was the head of Social.

“We will also consider expanding our delivery business. This includes not only Social and Smoke House Deli, but also our cloud cuisine brands such as Boss Burger and Lucknowee using our existing chain of stores across the country,” he said. The company also promoted Satyajit Dingra to the position of Chief Commercial Officer. Dhingra played a key role in the expansion of Mocha.

Indian Renaissance Foundation promoted Piramal Enterprises and Bain Capital announced a 550 crore investment in Impresario Entertainment and Hospitality on 14 November. Following the deal, India Resurgence Fund became the majority shareholder of Impresario. Bhatt said the injection gives the company enough capital to pursue its growth plans and focus on “pan-Indian expansion.” He said blurring the lines between metro and non-metro opens “dynamic” opportunities for growth.