QSR store additions hit 3-year low in FY26 as Jubilant, Devyani, Sapphire dial back expansion

Jubilant Foodworks added 304 net new stores in FY26, down from 325 in FY25 and 356 in FY24. Devyani's adds fell 15.5% to 217; Sapphire dropped to 89 from 129 in FY24. Chains pivot to SSSG, 600-700 sq ft delivery-carryout formats, and online channels now driving nearly half of sales.

— Source publishedWed, 17 Jun, 2026, 18:17 IST·First seen Wed, 17 Jun, 2026, 18:18 IST·Source The Hindu BusinessLine

What happened

Jubilant FoodWorks · Indian QSR chains—Jubilant, Devyani, Sapphire—posted three-year-low net store additions in FY26 as post-Covid expansion cools. Operators

Key facts

  • 304 net new stores Jubilant FY26
  • 325 FY25
  • 356 FY24
  • Devyani 217 stores FY26
  • down 15.5%
  • Sapphire 89 stores FY26 vs 129 FY24
  • 600-700 sq ft new format vs 1,500-1,600 sq ft

Why this matters

Distressed sub-scale franchisees and shelved expansion pipelines open a window to acquire seasoned sites, delivery-format leases, or smaller regional chains at softer multiples.