Vegetarian restaurant chain Burma Burma recorded ₹155.6 crore revenue in FY26, a 47% rise. While operations scaled to 22 outlets, the company reported a net loss of ₹14.5 crore due to heavy expansion costs. The firm is now eyeing an IPO by 2027 as it focuses on international growth and unit-level profitability.
Burma Burma, the vegetarian restaurant chain operated by Hunger Pangs Private Limited, reported revenue of ₹155.6 crore for the financial year 2026. This represents a 47% increase compared to the previous year, underscoring the brand’s rapid footprint growth in the competitive Indian dining sector.
The company has aggressively expanded its operations, now running 22 outlets across major cities including Delhi NCR, Mumbai, Bengaluru, Hyderabad, Kolkata, Ahmedabad, and Chandigarh. The brand’s model focuses on vegetarian specialty cuisine and avoids serving alcohol. By emphasizing a curated non-alcoholic beverage menu and high-turnover dining, the company has managed to maintain an average ticket size per customer of approximately ₹1,300.
Despite the significant jump in top-line revenue, the company reported a net loss of ₹14.5 crore for FY26. This loss is primarily tied to the high cost of opening nine new locations during the fiscal year. In the restaurant industry, the upfront spending required for site development, interior fit-outs, and staff hiring often creates temporary pressure on the bottom line before new units become profitable.
While the net result was a loss, the business generated an EBITDA of approximately ₹29 crore to ₹30.5 crore, indicating that core operations are healthy. This suggests that while the company is spending heavily to grow, the individual restaurants are performing well on a day-to-day basis.
For those monitoring the company’s progress, the primary challenge remains balancing this fast-paced growth with the need to turn a net profit. The business is capital-intensive, meaning any delay in new outlets gaining popularity could add further strain to the company’s finances. Management is now shifting its strategy toward optimizing these new units and testing international markets.
The company has publicly signaled its intent to aim for an IPO by 2027. The next major monitorables for the brand will be its ability to stabilize its profit margins as the new outlets mature and its success in maintaining high footfall across its expanding network.