Proost Secures INR 30 Crore in Series-A Funding to Expand Operations

Proost Secures INR 30 Crore in Series-A Funding to Expand Operations

By Nithyakala Neelakandan

Published on November 21, 2024

Proost, a homegrown beer startup founded in 2017 by Tarun Bhargava and Vijay P. Sharma, has successfully raised INR 30 crore as part of its ongoing Series-A funding round. The investment was led by existing backers Chimes Group and Srinivasan Namala of Porus Laboratories, with participation from Hyderabad Angels, The Chennai Angels, and other high-net-worth individuals (HNIs).

The newly acquired funds will bolster Proost’s supply chain, support its entry into new markets, and deepen its reach in existing regions. The company also plans to expand its product portfolio and strengthen brand-building initiatives to position itself as a leading player in India’s beer market.

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Tarun Bhargava, Co-Founder & CEO of Proost

“We are thrilled to announce this new round of funding, which represents a significant step forward in Proost's journey,” said Tarun Bhargava, Co-Founder & CEO of Proost. “With these funds, we will focus on expanding production capacity, exploring new markets, and deepening our presence in current ones. This brings us closer to our goal of capturing a substantial share of the Indian beer market by the end of the decade.”

Proost operates under the banner of Grano69 Beverages and has already established a robust presence across Delhi, Punjab, Uttar Pradesh, Kerala, Jharkhand, and Karnataka. The company aims to capture a 5% market share in India’s beer industry by the end of the decade, leveraging customer-focused product development, strategic market expansion, and innovation.

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Vijay Prakash Sharma, MD & Co-Founder of Proost

The brand is known for its premium quality beers characterized by low bitterness and high drinkability. Proost also prides itself on being a “Made in India” brand, sourcing 99% of its raw materials locally.

A representative from Chimes Group expressed enthusiasm about Proost’s growth trajectory, stating, “Proost’s strong market presence and vision reflect the team’s deep understanding of the Indian consumer. We are excited to support their mission to transform the beer industry with high-quality, innovative products.”

Proost intends to use the funds to introduce new beer variants that cater to evolving consumer preferences. The company also seeks to maintain its competitive edge by tapping into emerging trends and developing products that resonate with the Indian audience.


Burger Singh Plans 80 Outlets in Bengaluru, Targets 100 More Across Karnataka

Burger Singh Plans 80 Outlets in Bengaluru, Targets 100 More Across Karnataka

By Manu Vardhan Kannan

Published on July 21, 2026

Burger Singh, India's largest made-in-India burger chain, has announced an ambitious expansion plan for Bengaluru, aiming to increase its presence from eight operational outlets to 80. The company also plans to open 100 more outlets across Karnataka, making it the fastest city-level expansion in the brand's history.

The announcement comes as Burger Singh continues to strengthen its national footprint, which now spans more than 200 outlets across over 100 cities. Known for blending Indian flavours with the classic burger format, the brand has built a loyal customer base by offering products tailored to Indian tastes at affordable prices.

According to the company, Bengaluru has emerged as its fastest-growing market. Alongside the existing eight outlets, five more locations are currently under fit-out and are expected to open within the next month.

The city's strong response was evident during Burger Singh's Big Singh Feast campaign in November 2025, where the brand served over 3,300 free meals in a single day across Sarjapur, HSR Layout and BTM Layout. The activation attracted more than 15,000 registrations, with the company describing the turnout as comparable to blockbuster movie releases and major technology product launches.

Commenting on the expansion, Nitin Rana, Co-founder of Burger Singh, said:

"Every market teaches you something about pace, and Bengaluru has taught us to move faster than we've ever moved before. Going from 8 outlets to 80 isn't incremental growth; it's a scale-up unlike anything we've done in any other city, and we're doing it because Bengaluru has earned the speed. This is now officially our fastest-growing market in the country, and with another 100 more outlets planned across Karnataka, we're backing that momentum with real commitment, not just ambition."

As part of its expansion strategy, Burger Singh is also inviting franchise partners to join its growth journey across Bengaluru and the wider Karnataka market. The company said the initiative offers entrepreneurs an opportunity to become part of one of India's fastest-growing homegrown quick service restaurant (QSR) brands.

Customers visiting the Bengaluru outlets can continue to enjoy the brand's signature menu, featuring popular offerings such as Nikku Singh, Churmur Pandey, Udta Punjab 2.0 and Chunky Paneer Pandey, among other favourites.

With Bengaluru now leading its growth story, Burger Singh is betting on the city's strong consumer demand to drive the next phase of its expansion across southern India.


MAYFAIR Elixir Signs Premium Hotel in Santiniketan, Eyes FY29 Debut

MAYFAIR Elixir Signs Premium Hotel in Santiniketan, Eyes FY29 Debut

By Manu Vardhan Kannan

Published on July 19, 2026

MAYFAIR Elixir, the growth and expansion arm of MAYFAIR Hotels & Resorts, has signed a premium hospitality project in Santiniketan, West Bengal, further strengthening the group's presence in Eastern India.

The hotel, scheduled to open in FY2028-29, will become MAYFAIR's fifth property in West Bengal. Located in the UNESCO World Heritage Site of Santiniketan, the development aims to cater to leisure travellers, cultural enthusiasts and guests looking for intimate celebration venues.

Designed as a premium retreat, the upcoming property will combine modern hospitality with the cultural heritage of Santiniketan, offering personalised experiences that reflect the MAYFAIR brand while embracing the destination's artistic and literary legacy.

The signing was announced during Jagannath Rath Yatra and forms part of the group's long-term strategy to expand across destinations known for their cultural significance and tourism potential.

Speaking on the partnership, Rajendra Chatterjee, CEO & Managing Director of WESTROAD Group, which owns the property, said:

"Santiniketan is more than a destination. It is an emotion that celebrates creativity, learning and Rabindranath Tagore's legacy. We wanted a hospitality partner that understands the importance of preserving this essence while delivering exceptional guest experiences. MAYFAIR Group's expertise, its deep understanding of regional culture and unwavering commitment to excellence made it the natural choice. We look forward to creating a landmark experience in Santiniketan with MAYFAIR Elixir."

Commenting on the signing, Randhir Gupta, Vice President – Commercial & Business Development, MAYFAIR Hotels & Resorts, said:

"Santiniketan has long been one of India's most celebrated cultural destinations. Yet, the market has remained underserved in the premium hospitality segment. This signing is a strategic addition to our growing portfolio, allowing us to introduce the MAYFAIR experience to a destination of global significance. Santiniketan perfectly aligns with our vision of expanding into culturally rich destinations with long-term tourism potential."

Bjorn DeNiese, Managing Director, MAYFAIR Elixir, added:

"This marks an exciting chapter in the growth journey of MAYFAIR Elixir. As we expand our footprint across India, our vision is not simply to add destinations, but to create hospitality experiences that celebrate the unique character and cultural identity of every place we enter. Santiniketan, with its extraordinary legacy of art, literature and learning, embodies the values we believe modern travellers increasingly seek."

He further said the company has several new destinations, hospitality concepts and strategic partnerships in the pipeline as it continues to grow its portfolio across India.

The latest signing reinforces MAYFAIR Hotels & Resorts' focus on expanding into culturally significant destinations while strengthening its presence in key tourism markets across the country.


ITC Hotels Reports Strong Q1 Growth, Accelerates Asset-Right Expansion

ITC Hotels Reports Strong Q1 Growth, Accelerates Asset-Right Expansion

By Manu Vardhan Kannan

Published on July 18, 2026

 ITC Hotels Ltd reported a strong start to FY27, posting double-digit growth across key financial metrics while continuing to expand its portfolio through its asset-right strategy.

During the first quarter, the company recorded consolidated revenue from operations of ₹936 crore, up 15% year-on-year. EBITDA increased 19% to ₹292 crore, while profit after tax (PAT) rose 36% to ₹182 crore, reflecting steady operational performance despite a challenging business environment.

The company said the quarter was impacted by uncertainty arising from the West Asia conflict, which affected international air travel and contributed to inflationary pressures. Demand remained subdued during April due to weaker foreign tourist arrivals, but travel sentiment improved significantly in May and June, leading to a strong recovery in occupancy and room rates.

Excluding branded residences, revenue from operations grew 10% year-on-year, supported by an 8% increase in room revenue, driven primarily by the retail segment. The company reported a 4% growth in Average Daily Rate (ADR), while occupancy improved by 290 basis points, resulting in an 8% year-on-year growth in RevPAR.

ITC Hotels maintained a 33% RevPAR premium over the industry, highlighting the continued preference for its brands and guest experience.

The company's food and beverage (F&B) revenue grew 11%, led by specialty restaurants and banquet business. Meanwhile, management fees increased 35% year-on-year, supported by strong performance at managed hotels in leisure destinations and the stabilisation of properties added over the previous year.

Operational efficiencies also improved during the quarter, with EBITDA margin (excluding branded residences) expanding by 125 basis points to 31%, driven by growth across rooms, F&B, management fees and ongoing cost management initiatives.

Among its operational highlights, ITC Ratnadipa reported positive EBITDA while retaining its leadership in RevPAR. The company also continued the phased handover of Sapphire Residences, with 16 apartments handed over so far.

As part of its asset-right growth strategy, ITC Hotels completed the acquisition of Kumarakom Resort & Spa and has begun a comprehensive renovation programme. The property is expected to reopen under the ITC Hotels luxury resort and spa brand by the third quarter of FY27.

The company also strengthened its development pipeline by signing eight new hotels across Jaipur, Manesar, Bhubaneswar, Sonipat, Shirdi, Shahjahanpur and Zirakpur. It further marked the signing of the 25th Storii property at Amchong Tea Estate, Guwahati, while the opening of Fortune Bhimtal expanded its presence in the growing leisure travel segment.

On the sustainability front, ITC Hotels commissioned a 1.5 MWp captive solar plant at ITC Grand Bharat, increasing its total installed renewable energy capacity to 52.4 MW.

The company also strengthened its environmental credentials with ITC Royal Bengal becoming its 13th hotel to receive LEED Zero Water Certification, while Welcomhotel Vadodara achieved LEED Platinum Certification, taking the total number of LEED Platinum-certified hotels in its portfolio to 24.

Looking ahead, ITC Hotels said the outlook for India's hospitality sector remains positive, supported by the country's strong economic growth, infrastructure development, rising discretionary spending and favourable demand-supply dynamics, particularly across Tier I cities.

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