Paradise Biryani plans ₹100-crore fundraise

Paradise Biryani, among India’s most iconic biryani brands from Hyderabad, is looking to raise around ₹100 crore to accelerate expansion and strengthen its presence across key cities.

Private equity firm Samara Capital, which owns Paradise Food Court, is in discussions with several Indian family offices for the fundraise, according to people aware of the matter. The PE firm is likely to dilute around 10–12% stake in its 12-year old portfolio to bring in a new investor, according to a senior executive.

“The fresh capital will primarily be deployed to fund aggressive expansion plans, with Paradise targeting the launch of 100 new outlets over the next three years,” Abhik Mitra, Managing Director and CEO, Paradise Biryani, told ET.


At present, Samara Capital owns 100% stake in Paradise Food Court. Samara, which owned 35% stake in Paradise, acquired the remaining 65% stake held by the promoters for about ₹400 crore, in 2022. Samara entered Paradise in 2014 with an investment of Rs.120 crore.

At present, Paradise operates about 57 stores across Hyderabad, Bengaluru, Chennai, Vijayawada, Visakhapatnam and Gurugram. With a current revenue of ₹300 crore, Paradise will be expanded to major cities like Pune, Kolkata, New Delhi, Guntur, Warangal and reach about 160 stores in the next 3 years.

The famous Paradise brand has its origins in a small canteen and a café in a cinema theatre called Paradise in Secunderabad in 1953, started by Hussain Hemati and Ghulam Hussain. It expanded footprints after Ali Hemati took complete charge of the restaurant in 1978.

The proposed fundraise comes at a time when the biryani category is witnessing strong structural tailwinds, driven by rising online food ordering, improving consumer spending, and increasing acceptance of organized food chains.

Earlier in 2021, the family office of Indian conglomerate Havells Group made an investment in Biryani restaurant chain Dindigul Thalappakatti (DT) at ₹860 crore valuation. The majority stake in DT is owned by homegrown PE fund CX Partners.

“The company’s omnichannel approach, spanning dine-in and delivery, has delivered robust unit economics,” Mitra said. Stores reportedly achieve payback within 2.5 years and generate return on capital employed (ROCE) of around 30%. Technology integration across CRM, loyalty programs, and point-of-sale systems has also enabled better customer retention and operational control, he added.

Sales, Profit
According to Mitra, average daily sales per outlet have crossed ₹1 lakh, while store-level EBITDA margins are on an upward trajectory, expected to expand from around 20% currently to nearly 25% over the next three years. Importantly, the business has already achieved profitability at the corporate EBITDA level, underscoring the strength and sustainability of its operating model, he added.

The organized biryani segment is estimated to be over ₹3,000-3,500 crore, about 10-15% of the $4-billion (₹30,000-35000 cr) overall Indian biryani market. The organised market is driven by leading brands including Behrouz Biryani (Rebel Foods), Biryani by Kilo, Biryani Blues, Paradise Biryani, Dindigul Thalappakatti and Ambur Star Biryani.

The Biryani category has consistently dominated online food delivery platforms such as Zomato and Swiggy, where it has remained the most ordered cuisine for over a decade. Experts believe this combination of high demand and low formalization presents a compelling opportunity for scaled brands.

Biryani remains the top-ordered dish on major apps like Swiggy and Zomato, with a 20% increase in restaurants selling it. In 2024, Swiggy reported 83 million orders, while 2025 saw 93 million.

In another deal, popular brand Biryani By Kilo (BBK) had raised $35 million in its Series B funding round led by Alpha Wave Ventures in November 2021.