Devyani International Limited — Updates, 24-04-2025: Press Release

Devyani International Ltd. (DIL) has strengthened its position in the Indian Quick Service Restaurant (QSR) sector by acquiring a controlling stake in Sky Gate Hospitality Private Limited, which comprises popular brands such as Biryani By Kilo, Goila Butter Chicken, and The Bhojan. This strategic acquisition enhances DIL’s portfolio, now totaling ten diverse food and beverage brands. Sky Gate, founded in 2015, operates over 100 outlets across more than 40 cities and is noted for its innovative ‘Handi Biryani’ delivery concept. This move aligns with DIL's vision to deepen its brand offerings in traditional Indian cuisine, bolstering its competitive edge as one of the fastest-growing QSR chains in India. The leaders of both companies express optimism about leveraging their combined expertise to elevate customer experience and drive future growth. Investors should view this acquisition as a significant step towards expanding market share and diversifying DIL's culinary offerings. Positive outlook for long-term growth potential in the QSR segment is anticipated.