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Jagdish Farshan plans 25 stores across Ahmedabad and Surat in two years
Vadodara-based Jagdish Farshan plans national expansion after growing to nearly Rs 111 crore in annual topline. It will open 15 Ahmedabad and 10 Surat stores in two years, build western India supply chains, then enter Maharashtra, Rajasthan and Madhya Pradesh.
Store and format facts
Figures from ET Hospitality,
| Current-year topline target: | Rs 150-170 crore |
|---|---|
| Year-on-year CAGR: | 45% |
| Snacking sector value: | over Rs 50,000 crore |
Also in the report
- 26 retail outlets in central Gujarat
Other figures
- 2 North American outlets
What it means for the format
Jagdish Farshan is establishing a stronger Gujarat footprint ahead of western India, Rajasthan and Madhya Pradesh expansion, making it a more credible regional partnership or acquisition candidate.
Next on the rollout
- First-store opening dates and the pace of openings versus the stated 25-store, two-year plan.
- Evidence of a new central kitchen, warehouse, manufacturing capacity or third-party logistics partnership in western India.
- Same-store sales, average bill value and outlet-level profitability disclosures after Ahmedabad and Surat launches.
- Whether the Rs150-170 crore current-year revenue target is met without unusually heavy promotional spending.
- Choice of ownership model for new outlets, including franchise announcements or external capital raising.
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- Announcements of entries into Rajasthan or Madhya Pradesh before the Gujarat rollout reaches meaningful density.
Likely next moves
Our read of what comes next — analysis, not reported by the source.
- Secure high-footfall neighborhood, transit and commercial-area sites in Ahmedabad and Surat, likely beginning with clustered openings rather than evenly distributed locations.
- Build or expand a regional production, warehousing and cold-chain/distribution network capable of serving Gujarat cities before pursuing Rajasthan and Madhya Pradesh.
- Localize product assortment, pack sizes and gifting formats for Ahmedabad and Surat while retaining core Vadodara-origin snack categories.
- Increase hiring for store operations, quality control, procurement and last-mile delivery; evaluate franchise versus company-operated economics.
- Use new-store launches to deepen digital ordering, corporate gifting, festival sales and marketplace delivery partnerships.
The counter-case
The case against this reading — not reported by the source.
Opening 25 stores in two years would nearly double Jagdish Farshan's current footprint, creating execution risk in real-estate selection, staffing, quality consistency and working capital. Ahmedabad and Surat are highly competitive snack markets with entrenched local brands and strong unorganised players, so new outlets may cannibalise each other or take longer than expected to mature. The Rs150-170 crore revenue target also implies meaningful growth that may depend on expansion delivering faster than a new supply chain and store base can reliably support.
The source
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