Costa Coffee reported 49% growth in revenue to Rs 152 cr in FY24

Costa Coffee, a British coffee chain, reported a 49 per cent growth in revenue from operations to Rs 151.8 crore in India, Devyani International Ltd said in the annual report.

Devyani International Ltd (DIL) is the master franchisee for Costa Coffee, which is owned by global beverage major Coca-Cola.

"In FY24, revenue from operations stood at Rs 151.8 crore as against Rs 101.8 crore in the previous year, registering a growth of 49 per cent, driven by store expansion," it said.

The company added 67 new stores in India in 2023-24, taking its count to 179.

"We are expanding Costa at a rapid pace to serve more consumers, having added 67 net new units in FY24, the highest in any year. With this expansion, we have more than trebled our store count over the last two years, growing from 55 stores to 179. Looking ahead, we are focused on adding 60-70 new units annually," it said.

Costa Coffee is targeting high footfall locations, such as airports for its next phase of expansion.

"With the domestic travel market booming, airports are buzzing with activity, making them prime spots for our premium coffee. Our presence at these locations aligns perfectly with the high demand and premium experience travellers seek," it said.