Devyani International hits 1,735 stores; KFC overtakes Pizza Hut as flagship brand
India's largest KFC and Pizza Hut franchisee and sole Costa Coffee operator crossed 1,735 stores after a Thailand acquisition, up from 1,452 in 2023. KFC (590) edged past Pizza Hut (565) as the biggest brand. FY23 revenue hit ₹2,997.7 cr versus ₹1,310.6 cr in FY19, with the company tracking toward its 2,000-store target in 2024.
What happened
Devyani International, India's largest KFC and Pizza Hut franchisee and sole Costa Coffee operator, hit 1,735 stores after Thailand acquisition. KFC overtook
Key facts
- 1,735 stores total
- 1,452 stores in 2023
- 1,387 India stores in 2023
- KFC 590 stores 2023
- Pizza Hut 565 stores 2023
- Costa 154 stores 2023
- Vaango 54 stores 2023
- FY23 revenue ₹2,997.7 cr
- FY23 PAT ₹262.5 cr
- FY19 revenue ₹1,310.6 cr
- IPO subscribed 117x
- 2,000 store target by 2024
Why this matters
Devyani's cross-border move into Thailand and 283-store annual adds mark it as an aggressive regional consolidator—map remaining Yum! and Costa territory rights in South/Southeast Asia for partnership or co-investment angles.