Restaurant Brands Asia
Master franchisee for Burger King and Popeyes.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
| investor investor investor investor investor investor investor investor investor | €0.0 | round | |
* | $60.0m | Post IPO Equity | |
| Total Funding | 000k | ||
| INR | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | 202 % | 38 % | 19 % | 5 % | 12 % | 17 % | 17 % |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | 8 % | 7 % | 11 % | 12 % | 12 % | 14 % | 16 % |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | (13 %) | (11 %) | (9 %) | (8 %) | (6 %) | (3 %) | (1 %) |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article, Equity research estimates
Restaurant Brands Asia Limited (RBA) is the master franchisee for Burger King and Popeyes in Asia, operating a rapidly expanding network of quick-service restaurants (QSRs) in India and Indonesia. The company was originally incorporated as Burger King India Private Limited on November 11, 2013, before becoming a public limited company in 2019 and changing its name to Restaurant Brands Asia Limited in February 2022.
The company holds exclusive rights to develop, establish, operate, and franchise Burger King restaurants across India and, through its subsidiaries, also holds the master franchise rights for Burger King and Popeyes in Indonesia. This model allows RBA to leverage the global brand recognition of Burger King and Popeyes while tailoring menus and marketing to local tastes. Since opening its first restaurant in India in November 2014, the company has seen rapid growth, becoming one of the fastest-growing international QSR chains in the country. It achieved a milestone by opening 200 restaurants within its first five years of operation. As of December 2024, the company's network had grown to 682 stores across both India and Indonesia, including 510 Burger King locations in India and a mix of 147 Burger King and 25 Popeyes stores in Indonesia.
RBA's business model is centered on a long-term master franchisee agreement that extends until 2039, providing stability and a clear path for expansion. The company generates revenue through restaurant sales and franchising operations. Its strategy includes a focus on value leadership to attract a broad customer base and drive foot traffic, alongside premium offerings like the 'Whopper' range. To further enhance its offerings and daypart sales, RBA introduced BK Café in 2021, serving a range of coffee and beverage items. The company went public with an Initial Public Offering (IPO) on December 14, 2020, listing on the Bombay Stock Exchange and National Stock Exchange of India. The company is led by CEO and Whole Time Director Rajeev Varman, who has been with the company since 2014 and has over two decades of experience in the food and beverage industry.
Keywords: quick service restaurant, QSR, master franchisee, fast food, Burger King India, Popeyes Indonesia, restaurant operations, food and beverage, franchise management, public company, value leadership, menu localization, BK Café, restaurant expansion, casual dining, hospitality industry, eatery chain, food service, brand development, public listing