3/30/23, 11:25 AM Azure

Overview Highlights Share Investment Details

About The Brand

Backed by Goldman Sachs, Max Ventures, Anicut Capital and other leading institutional investors, Azure Hospitality is a creative food collective established
by entrepreneurs, Rahul Khanna and Kabir Suri, with a mission to make urban neighbourhoods more interesting. The decade-old umbrella brand has
various popular brands like Mamagoto, Dhaba1986, Sly Granny, and Foxtrot, and two delivery only brands, namely, MaalGaadi and Jhoom under their
diverse collective, making Azure a leading group in the F&B scene in the country. Azure's brands have been developed to offer a distinct mix of carefully
curated food and beverage offerings with intrinsic quality and international appeal. 

Azure has grown rapidly with 32 owned outlets and 12 franchised outlets across 12 cities in India and employs 1000+ super-talented professionals.
Mamagoto and Dhaba1986 have been the most loved establishments, having won countless awards by leading food reviewers over the years. Azure has
plans to open 5 dine-in restaurants, 2 cloud kitchens, and 8 new franchisee outlets by March 2022.

Amidst the lockdown, the brand accelerated its Cloud Kitchen Business vertical and also launched an online-first retail service via its own website. Online
has scaled rapidly to ~Rs 4 cr monthly run rate, and this will continue to be a driver of revenue growth in the future.

Brands

Mamagoto Dhaba1986 Sly Granny

Foxtrot Jhoom

Why Are We Excited About Azure?

Award-Winners High Brand Affinity

Consistent 4+ star ratings across their brands, and social media love.

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The brand's flagship restaurants have won countless awards for exceptional
food & design elements, making the dining experience aspirational & deeply
pleasant.

Media Mentions

Azure Hospitality announces launch of first UK venture in

Azure Hospitality: A boon to your pandemic cooking
former Gaylord site

Indian Express
The Caterer

Monthly Revenues

↑17%
20 ↑4%
↑4% ↓1% ↓3% ↓4% ↑1% ↑1% 17.45 ↓16%
14.67 15.32 15.22 15.8 15.32 14.71 14.79 14.93 14.64
15
)erorC ni(

10
₹

0
Apr-22 (MIS) Mar-22 (MIS) Jun-22 (MIS) Jul-22 (MIS) Aug-22 (MIS) Sep-22 (MIS) Oct-22 (MIS) Nov-22 (MIS) Dec-22 (MIS) Jan-23 (MIS)

Annual Revenues

300

240 ↑63%
185
)erorC ni(

180
↑126%

120 113.48
₹

50.12
60

0
FY 2020-21 FY 2021-22 FY 2022-23 (P)

Expense And Margin Profile

Gross Margin EBITDA

65.35
64.77%
64.64%
64.48
)egatnecreP ni( %

63.62

62.75 62.46%

61.88

Q1 FY 22-23 Q2 FY 22-23 Q3 FY 22-23

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Balance Sheet

Total Assets Total Liabilities Net Worth

142.01
98.64 106.64 C
95.99 C
88.96 71.80 C
)erorC ni(

35.91
-2.65 C
-17.15 -34.83 C
₹

-70.20

FY 2020-21 FY 2021-22

Financial Highlights

Leveraging a surge in dine-in traffic post lockdown, the company had closed FY22 at a whopping 100%+ growth in revenue (Rs 50.12 cr in FY21,
as against Rs 113.48 cr in FY'22). The company is on track to close the current year at Rs 185 cr - registering a growth of close to 60%!

Due to revenues being adversely impacted by the second lockdown, the cash burn had significantly increased. However, the company has since
bounced back and is now EBITDA positive

The company has fixed monthly debt obligation of approximately Rs 1.24 cr

Founders

Rahul Khanna Education

Co-founder, is also known as the B.Sc. in International Hospitality Management, Ecole Hôtelière De
marketing and creative brains at Lausanne, Switzerland
Azure

Kabir Suri Education

Co-founder, responsible for the
operations and finances at Azure
Hospitality. He is also the President
of National Restaurants Association
of India (NRAI).
Economics and Business Management, Wheaton College
Past Experience
North Fork Bank, New York, Hedge fund, family restaurants business in
UK – Zuma/Roka.

Industry Perspective

The organized restaurant industry in India is estimated to be valued at Rs 1.6 tn with casual dining restaurant accounting for majority of the
sales.

The casual dining industry has been growing at a CAGR of ~22% over the last 5 years driven by a new consumer class in India and rising
disposable income.

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3/30/23, 11:26 AM Azure

Overview Highlights Share Investment Details

Investment Highlights

Total Investment Minimum Investment Payout Frequency

Rs 200 Lakhs Rs 10 Lakhs Monthly
is the net investment through Klub commitment per patron to Klub receive returns on a monthly basis

Fixed Return Fixed Yield Investment Fee

25.73% 1.13x 2.50%
is the fixed IRR total returns from the investment on monthly repayment, excluding GST

Investment Period
12 Months
tenure of the investment

Repayment Schedule

Repayment - 12 Repayment - 12
months months

Repay… Repay…

Simple transparent returns

Your Investment amount Total expected payout

11.3 L
10 L
Gross Yield
10 Lakhs 200 Lakhs
13%
Tenure Return Type Expected IRR
12 Months Monthly 25.73% - 25.73%

Show Advanced view

Purpose Of Investment

The proposed funding will be utilised for working capital requirements of the company in the normal course of business.

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Risk And Mitigants

While revenue from dine-in experiences suffered during the first and second lockdown in 2020 and 2021 respectively, the brand has bounced
back strongly each time. Average monthly revenue in Q4 of FY23 was Rs 15.72 cr.

Due to revenues being adversely impacted by the second lockdown, the cash burn had significantly increased. However, the company has since
bounced back and is now EBITDA positive

Key Comforts

The company's revenues have grown substantially YoY - 100%+ in FY22 and 60%+ in FY23 and has turned EBITDA profitable in FY23

The company has built several strong, unique and recognizable brands in the CDR segment, across multiple categories and cusines. For
instance, 'Mamagoto' is now synonymous with premium Asian cuisine in India and Dhaba1986 is one of the Leading North Indian food brands
in India!

The company has managed to leverage the high customer affinity and loyalty associated with well-known brands such as Mamagoto and Dhaba
to augment its food delivery operations. The company has recently even launched two delivery-only brands, namely, MaalGaadi and Jhoom.

The founders have rich experience in the hospitality industry and have raised $34mn+ from marquee investors such as Goldman Sachs and
Max Ventures.

The company is backed by marquee investors including Goldman Sachs, Max Ventures, and Anicut Capital, and is in the middle of raising
another round from Anicut.

Disclaimer

The data and information presented on this microsite has been provided by the brand and subsequently reviewed by Klub.

The net yield has been rounded off to the nearest whole number.

The brand legally confirms that the data is accurate to the best of its knowledge. Klub has validated the data wherever possible, but does not
guarantee accuracy.

We encourage patrons to exercise their independent judgement while making investment decisions.

Undertaking

I understand that funds must be transferred within the transfer window notified by Klub and that not doing so could affect my continued use of
the platform.

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