India’s largest food service player, Jubilant FoodWorks, is entering a new phase of planned, capital-efficient expansion, backed by technology, supply chain muscle and product innovation, as it builds towards an ambitious 5,000-plus store network.
The franchise partner for Domino’s Pizza, Popeyes, Dunkin’ and Hong’s Kitchen reported sustained momentum across brands and geographies, underlining management’s confidence that its execution strategy is delivering durable long-term value.
Disciplined Growth, Relentless Expansion
In the December FY26 quarter alone, Jubilant FoodWorks added 114 stores across brands and markets, taking its global network close to 3,600 outlets. Of these, approximately 2,530 stores are in India, cementing its leadership in the domestic quick-service restaurant (QSR) ecosystem.
Domino’s India continues to lead the charge. The brand added around 200 stores in the first nine months of the fiscal year, its highest-ever expansion for this period, with 75 stores opened in the third quarter alone. The scale-up reflects not just footprint growth, but a sharp focus on network densification and deeper market penetration.
Management reiterated that capital deployment remains disciplined even as investments are stepped up in technology platforms, supply chain infrastructure and store expansion, core pillars designed to support the long-term 5,000-store aspiration.
Innovation Driving Mix And Margins
Product innovation remains central to the company’s growth playbook. Over the past 12 months, new launches have resonated strongly with customers, both in terms of adoption and profitability.
Recent introductions such as Sourdough Pizza and Cheese Lava Pull Apart have scaled rapidly, delivering what management described as an ‘overwhelming response.’ Crucially, these offerings are accretive to gross margins, demonstrating the company’s ability to marry innovation with financial discipline.
During the quarter, the company also undertook calibrated price increases on select products. These moves were aimed at strengthening margins and steering favourable mix shifts, while preserving its value proposition for customers.
Popeyes: A New Growth Engine
If Domino’s anchors the portfolio, Popeyes is fast emerging as its high-growth challenger brand. The fried chicken chain delivered high double-digit like-for-like growth for the second consecutive quarter, signaling rising brand acceptance.
The launch of seven Flavour Burst Burgers and a 15-piece chicken bucket further energized the menu. Popeyes now operates 73 stores in India, adding five outlets during the quarter. Management expressed growing confidence that the brand could evolve into a powerful new growth vector for the company.
International Business: Profitable Momentum
Jubilant FoodWorks’ international operations are adding both scale and profitability. Turkey continues to outperform internal plans, delivering consistent double-digit year-on-year growth while maintaining strong profit-after-tax margins. Notably, the Turkey business is now servicing its acquisition-related debt entirely through internal cash flows, an important milestone in financial consolidation. During the quarter, Turkey added 33 stores, including 15 Domino’s and 18 COFFY outlets.
Sri Lanka and Bangladesh also delivered high double-digit growth, with both markets charting positive trajectories in growth and margin expansion.
Built On Technology And People
At the heart of this performance lies a strong operating foundation, technology platforms, a robust supply chain, deep delivery capabilities, and a large, committed workforce.Management emphasised that these enablers remain non-negotiable as the company scales. Continued investments in digital ordering systems, backend efficiencies and last-mile delivery are expected to reinforce competitive advantage in an increasingly value-conscious consumer environment.