Jubilant FoodWorks Launches Biryani Biz With 'Ekdum!'_ Stk Hits Record High

Business Standard Jubilant FoodWorks launches biryani biz with 'Ekdum!'; stk hits record high

Jubilant FoodWorks' stock has rallied 8% in the past two trading days

Shares of Jubilant FoodWorks surged 4.4 per cent and hit a fresh record high of Rs 2,793 on the BSE on Thursday, after clocking an 8-per cent in the past two trading days, after the company entered into the biryani segment with a new brand 'Ekdum!' as part of its portfolio expansion.

The largest foodservice company in India on Wednesday announced that it has entered into the 'most-loved food space' of Biryanis with its newest brand Ekdum!

"Ekdum! will offer the widest variety of biryanis from across India to choose from. The chefs at Ekdum! have brought together a selection of twenty different biryanis curated from various parts of India using authentic ingredients that bring out the unique flavours and signature tastes associated with the region," Jubilant FoodWorks said in a press release.

Ekdum! will be affordably priced, with biryani prices starting from Rs 99, offering unbeatable value for money to customers. Ekdum! starts with three restaurants in Gurgaon for Delivery, Takeaway and Dine-In, with more restaurants planned to open in NCR over the next few months, it said.

While an accurate estimate of overall (dine-in + delivery) market size is not available, analysts at Kotak Institutional Equity peg the Biryani delivery market at Rs 3,000 crore.

Prima-facie Kotak Institutional Equities find Ekdum!'s pricing attractive. It also believes Biryani economics would likely be comparable to Domino's once critical scale is achieved; and that the key difference between Domino's and Ekdum! would be kitchen dynamics.