Exclusive: Biryani Blues losses down by over 30% in 11 months of FY25

Quick service restaurant (QSR) chain Biryani Blues claimed to have hit the Rs 85 crore revenue threshold in the fiscal year ending March 2025. The company appears to be on track, as it reported Rs 76.23 crore in revenue during the 11-month period (Apr–Feb FY25).

On a year-on-year basis, the company barely managed double-digit growth in FY25 (11 M FY25), having posted Rs 76.15 crore in revenue in FY24. The FY25 figures are provisional financial statements sourced from filings.

Biryani Blues is a QSR chain specializing in biryani. It also offers starters, desserts, and beverages, served through online delivery, dine-in, and take-away outlets. While a detailed revenue breakup has not been disclosed, most of its earnings are likely driven by the sale of these items.

The Gurugram-based company also earned Rs 60 lacs of non-operating income, which took the company's total revenue to Rs 76.83 crore.

For the biryani brand, the cost of procurement of materials accounted for 27.35% of total expenses at Rs 22.47 crore, which remained flat compared to the previous fiscal. Employee benefit expenses also stayed nearly unchanged at Rs 14.91 crore during the last fiscal year (Apr–Feb FY25).

Importantly, the firm’s finance cost surged over 60% to Rs 6 crore. While a detailed expense breakdown was not provided, total expenses declined marginally by 3% to Rs 82.17 crore.

The QSR brand’s controlled cost mechanism helped it reduce the losses by over 30% to Rs 5.34 crore in 11M FY25, compared to Rs 8.14 crore in the previous fiscal year. The company’s EBITDA declined 25% but remained positive at Rs 7.25 crore during the 11 months period.

These figures are provisional, as the March numbers are yet to be accounted for and may lead to a slight increase.

The Rebel Foods-backed company spent Rs 1.08 to earn a rupee in the above-stated period. Its current assets were recorded at Rs 8.57 crore till Feb 25, including cash and bank balances of Rs 1.09 crore.

The company has raised over Rs 100 crore ($13.5 million) till date including $5 million raised in May 2025 led by Yugadi Capital, as per TheKredible.