The company also aims to triple its footprint before going public, they said.
Last month Burma Burma (Hunger pains Pvt Ltd) has raised $2 million in equity investment and is looking to raise another $3 million. Existing investors are expected to participate in the round. Nine capitals and family offices.
Burma Burma operates 13 restaurants and delivery kitchens across India including locations like Delhi, Gurgaon, Noida, Mumbai, Bengaluru, Hyderabad, Calcutta and Ahmedabad.
“We plan to take our company public in 2027 and are looking at doing so between April and December 2027. We aim to hit around Rs 300 crore in revenue by then. We are already at a run rate of around Rs 120 crore and will end the year at a run rate of around Rs 150 crore,” Chirag Chhajer said.
“In the next two to three years, we aim to double our current figure. Last year, we closed the first six months at Rs 29.5 crore and this year we are at Rs 53 crore in the first half of this year. From 0.7 per cent EBITDA last year, this year, we would close at 12-15 per cent EBITDA. Revenues of Rs 300 crore at 20 per cent EBITDA is the level we aim to achieve before going public,” he added. The company is also looking to expand its presence in existing cities. “We are definitely very bullish on international markets, particularly the UAE and London. We are exploring synergies across the border. But our focus remains on India as a market. If we get a good opportunity along the way, then our first expansion destination could be the UAE or the UK,” said Ankit Gupta.
In total, 12% of the company’s total revenue comes from delivery platforms and Gupta said this is the share the company hopes to maintain in the future as well.
The founders said over the past year: he company saw significant growth, doubling its footprint and annual recurring revenue (ARR) from Rs 46 crore in financial year 2023 to over Rs 100 crore in financial year 2024.
“There is a lot of depth in the country. When we launched in 2014, we thought Mumbai might have one or two outlets, but now places like Mumbai, Bengaluru and NCR can have 10 outlets each,” Chhajer said.
Gupta said the company has its own R&D lab where “continuous” innovation takes place when it comes to ingredients. “As a company, our aim is to do justice to Burma, because there is still a lot to be gained in Burmese cuisine,” he added.
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