Cafe Coffee Day to open 110 new outlets

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India's largest retail coffee chain Cafe Coffee Day has earmarked a Rs 30 crore investment for setting up 100 outlets across the country and 10 abroad, a company official said on Wednesday.

Inaugurating the company's 400th outlet here, director of Cafe Coffee Day Naresh Malhotra told reporters that another 100 outlets would be opened across India by September 2007.

He said, all the outlets were owned and managed by Cafe Coffee Day and added the estimated cost for putting up one was around Rs 30 lakh.The company currently has two outlets overseas in Vienna and Karachi and plans to open nine more in Pakistan.

Malhotra said that to expand the reach, the company has entered into an agreement with Air Deccan and Go Air for airline catering.

He said, "The company was looking at a growth of 25 per cent from this line of activity.The company would penetrate in new locations for highway cafes and drive-through cafes."

Asked whether the company was looking at raising funds from the market, he said recently Rs 125 crore had been raised by private placement of equity to two investors.There was no plan to raise funds from the market at least in the next three years, he said.

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