Oct 28, 2023 · 3h 23m · wtf
Ep# 12 | WTF is The Restaurant Game? Nikhil w/ Pooja Dhingra, Zorawar Kalra & Riyaaz Amlani · Nikhil Kamath
Zorawar Kalra · 56m spoken Riyaaz Amlani · 55m spoken Nikhil Kamath · 32m spoken Pooja Dhingra · 23m spoken
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gold bands on the timeline = statements, start to end. Hover to read, click to jump. CC turns on captions
Hosted by Nikhil Kamath, this masterclass brings together leading Indian restaurateurs Pooja Dhingra, Zorawar Kalra, and Riyaaz Amlani to deconstruct the economic, operational, and cultural realities of building sustainable food businesses in India. The panel provides actionable guidance on unit economics, delivery platforms, site selection, and hospitality leadership, culminating in a 50 Lakh INR mentorship fund for young culinary founders.
How this conversation actually went
Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. Nikhil holds 19.3% of the talking time here. How this is scored →
Nikhil as informed peer 4.0 Guest teaching 5.4 Guest disagreement 2.6 Nikhil pushing back 2.5
speaking balance: gold is Nikhil, purple is the guest (3 minute bins)
Sharpest disagreement ▶ 1:12:18 Riyaaz Directly Challenges Zorawar on Cloud Kitchens
Riyaaz forcefully rejects Zorawar's recommendation of cloud kitchens, bluntly stating that nobody makes money in the standalone cloud kitchen model.
Hardest push from Nikhil ▶ 1:57:40 Nikhil Questions Pricing Restraint on High-End DiningNikhil directly presses the restaurateurs on why they do not aggressively scale ultra-premium concepts if a proven market exists for higher-priced gourmet offerings.
Biggest teaching moment ▶ 2:05:00 Riyaaz Exposes the Hidden Economics of Food AggregatorsRiyaaz delivers a granular, mathematical breakdown showing how discovery fees, commissions, and forced discounts wipe out over 50% of top-line revenue for restaurant partners.
Nikhil holds their own ▶ 1:25:20 Nikhil Frames Public Market Valuation ArbitrageNikhil leverages his public markets expertise to articulate how aggregating casual dining brands can bridge the valuation gap between traditional restaurants and high-multiple QSR franchises.
the scores for every segment, with the reasoning behind each
| Chapter | Topic | Nikhil as informed peer | Guest teaching | Guest disagreement | Nikhil pushing back | Why |
|---|---|---|---|---|---|---|
| Pooja Dhingra: Building Le 15 and Culinary Entrepreneurship | 3 | 4 | 2 | 3 | Nikhil conducts an inquisitive personal interview with Pooja about her education, funding, and career path. Pooja educates Nikhil on the realities of culinary school attrition and hospitality careers, while playfully deflecting his probing questions about her personal life. | |
| Zorawar Kalra: Heritage, Massive Restaurants, and Global Ambition | 4 | 5 | 2 | 2 | Zorawar passionately details his father Jiggs Kalra's legacy, culinary history, and their expansive restaurant concepts. Nikhil asks probing questions about ego and succession dynamics while Zorawar highlights the historical depth and global potential of Indian cuisine. | |
| Riyaaz Amlani: Early Hustle, Regulations, and Cultural Spaces | 3 | 6 | 3 | 2 | Riyaaz details his unconventional background and breaks down the harsh regulatory hurdles hospitality businesses face in India. Nikhil listens closely as Riyaaz explains licensing friction, police permissions, and the cultural role of restaurants as public spaces. | |
| Restaurant Failure Rates, Passion, and Consumer Economics | 5 | 6 | 3 | 4 | Nikhil brings data points on global eating-out frequencies and consumer spend, testing economic theories about restaurant profitability. Zorawar and Riyaaz school Nikhil on the real cause of the 90%+ failure rate, identifying undercapitalization and lack of stamina rather than pure passion. | |
| Scaling Models: Cloud Kitchens, Burgers, and Real Estate | 6 | 6 | 4 | 4 | Riyaaz and Zorawar clash slightly on the financial viability of standalone cloud kitchens versus dine-in models. Nikhil probes the unit economics, COGS benchmarks, and real estate yields, comparing commercial lease dynamics across Indian and international markets. | |
| Dessert Economics, Health Trends, and Organic Brand Marketing | 5 | 5 | 3 | 3 | Pooja explains the unit economics of desserts and the ongoing formulation pivot toward clean, natural sugar alternatives. Nikhil asks about his investment thesis bridging CDR and QSR multiples, prompting Riyaaz to explain regional Indian flavor profiles and consumption habits. | |
| The Indian Palate, Sourcing Constraints, and Future Growth | 5 | 6 | 3 | 3 | The panel debates supply chain constraints, artisanal produce, organic farming economics, and high import tariffs in India. Zorawar and Riyaaz explain why high-end ingredients cannot easily scale across mass-market restaurant chains due to yield realities and Mandi system structures. | |
| Celebrity Restaurants and Grand Launch Marketing Strategies | 4 | 4 | 2 | 3 | Zorawar and Riyaaz dismiss celebrity-backed restaurants as unsustainable gimmicks, citing global case studies where vanity launches failed. Nikhil questions the efficacy of expensive opening parties, and the guests explain how buzz only works if the core product holds up. | |
| The Economics of Food Delivery Platforms and Margin Compression | 6 | 7 | 5 | 4 | Riyaaz delivers a scathing breakdown of aggregator unit economics, highlighting how commission, discovery fees, and forced discounting eat up to 55% of margins. Zorawar and Pooja explain the consumer addiction to convenience and discounting, which traps restaurant operators. | |
| Platform Duopoly, Customer Data Restrictions, and Negotiating Tactics | 6 | 6 | 4 | 4 | Nikhil asks whether public investors should be concerned about food aggregator business practices and margin squeezes. Riyaaz and Zorawar detail how aggregators restrict customer data access and aggressively block direct merchant-to-consumer relationship building. | |
| Open Network for Digital Commerce and Alternative Delivery Tech | 5 | 5 | 2 | 2 | The panel explores ONDC as an open tech stack that could democratize last-mile logistics and reduce commissions from ~25% to under 5%. Nikhil highlights Nandan Nilekani's foundational role in building India's digital public infrastructure. | |
| Cloud Kitchen Viability, Attrition Rates, and Direct Orders | 4 | 6 | 4 | 3 | Riyaaz asserts that thousands of cloud kitchen entrepreneurs fail monthly due to extreme platform dependency and lack of brand pull. Zorawar explains the competitive dynamics between burger and pizza categories and how to leverage aggregator cuisine-gap data. | |
| Supply Chain Strategies: Sourcing from Local Vendors vs. Tech Platforms | 3 | 5 | 3 | 2 | Zorawar and Riyaaz discuss sourcing strategies, balancing tech platforms like Hyperpure against traditional relationships with local vendors. Riyaaz playfully teases Zorawar about supporting local butchers while relying heavily on single-vendor platforms. | |
| Restaurant Location Scouting and Informal Industry Intelligence | 4 | 6 | 2 | 2 | The guests share operational tactics for evaluating restaurant locations, combining gut instinct, footfall analysis, and cloud kitchen market tests. Riyaaz reveals the informal industry intelligence network shared during late-night local train commutes in Mumbai. | |
| Preventing Pilferage and Implementing Strict Inventory Systems | 4 | 7 | 2 | 2 | Zorawar and Riyaaz outline inventory management SOPs, detailing daily liquor audits and ERP-POS integrations that prevent theft and pilferage. Pooja explains how precise recipe chemistry in pastry makes raw material tracking significantly tighter than a hot kitchen bar. | |
| The Science of Menu Engineering, Pricing Psychology, and AI | 4 | 6 | 3 | 3 | Riyaaz and Zorawar break down the psychological mechanics of menu engineering, comparing QSR display psychology against CDR anchoring techniques. Riyaaz also shares how his culinary teams use generative AI to conceptualize and construct themed menus. | |
| Interior Aesthetics, Spatial Psychology, and Restaurant Design | 3 | 6 | 2 | 2 | Riyaaz describes interior design as tactile emotional engineering, emphasizing how cup weights, textures, and spatial layouts shape customer mood. Pooja and Zorawar reinforce the importance of bespoke storytelling over cookie-cutter Pinterest boards. | |
| Moving Beyond Gimmicks: User-Generated Content and Genuine Hospitality | 4 | 6 | 3 | 2 | The guests discuss the shift away from superficial molecular gastronomy and dry-ice spectacles toward genuine hospitality and word-of-mouth. Zorawar explains the difference between basic mechanical service and true hospitality that creates lasting memories. | |
| Chef-Founder Dynamics, Talent Dependencies, and Brand Longevity | 3 | 6 | 2 | 2 | Nikhil asks how founders navigate operational reliance on star chefs without making the business vulnerable to talent departures. Riyaaz and Pooja explain how strong standardized product systems outlast individual chef egos while still respecting creative divas. | |
| Staff Recruitment, Culture Building, and Career Path Retention | 4 | 7 | 3 | 2 | Zorawar and Riyaaz break down staff recruitment methods, contrasting high QSR attrition (120%) against career development systems in CDRs. Riyaaz cites the classic Udupi/Shetty restaurant model as the ultimate benchmark for clear career progression and staff loyalty. | |
| Navigating Indian Festivities and Seasonal Business Fluctuations | 3 | 5 | 2 | 2 | Pooja and Zorawar explain how religious holidays like Ganpati and Navratri sharply alter dining patterns and alcohol consumption across regions. They share tactical planning mechanisms such as specialized festive thalis to mitigate predictable revenue dips. | |
| Podcast Reflections and Zorawar's Reality TV Dance Journey | 3 | 3 | 1 | 2 | The panel winds down after a long recording session, playfully teasing Zorawar about his stint on national dance reality television show Jhalak Dikhhla Jaa. Zorawar laughs about stepping far outside his comfort zone and not taking himself too seriously. | |
| WTF Philanthropy: Pledging 50 Lakhs to Mentor Young Food Entrepreneurs | 4 | 3 | 1 | 2 | Nikhil proposes pooling 50 lakhs to fund and mentor an aspiring young food entrepreneur under 22. Nikhil pledges 25L, Zorawar pledges 15L, and Pooja pledges 10L, while Riyaaz commits full mentorship and advisory support. | |
| Blindfolded Sensory Taste, Touch, and Smell Challenge | 2 | 3 | 1 | 1 | The episode wraps with a fun blindfolded taste, touch, and smell challenge where guests guess everyday culinary ingredients and dishes. Zorawar and Pooja showcase their sharp palate recognition, followed by a comedic outro from the production crew. |
Statements from this episode (67)
Kamath: I Have Attempted and Failed to Open Restaurants Multiple Times
“I've attempted it and failed a bunch of times.”
Dhingra: 50% to 60% of Hospitality Graduates Leave the Industry
“The interesting statistic is that about. 50 to 60 people that study, go to hospitality school, don't end up in the industry. They end up doing different jobs.”
Kalra: Elite Hospitality Degrees Do Not Boost Starting Pay at Hotels
“I think hotels especially have a fairly regimented salary structure. So if you're coming in at a certain position, I don't think you're going to get significantly more just because you came out of a wonderful school like hers. Probably going to get paid the sa…”
Dhingra: Macarons Generate 50% of Total Revenue for Le15 Patisserie
“50% of our revenue comes from macaroons.”
Dhingra: An Accountant Stole a Significant Amount of Money From Me
“And I had like an accountant who stole a lot of money from me, made me really, like it put me through quite a bit.”
Kalra Predicts Indian Dining Will Rank Top-Three in Major Global Cities
“I mean, I cannot help, but dream of a day where maybe a decade from now, or even earlier, every top city in the world, A diner or a tourist considers an Indian restaurant as one of the three dining destinations.”
Kalra: Jiggs Kalra Created Five of India's Top Ten Grossing Restaurants
“So at one point in time, out of the 10 top grossing restaurants of India, five were made by one man. That included things like Great Kebab Factory, Dampukht, Bukhara, Singh Sahab, so many restaurants he'd made.”
Kalra: Indian Restaurant Sector Employs 10 Million, Second Only to Agriculture
“Just to put things in perspective, the restaurant industry overall is the second highest employer of human capital in India after agriculture. Ten million people directly employed.”
Kalra: Indian Restaurant Sector Grows 21% Annually, Doubling Every 3.5 Years
“Compounded annually, we're growing around 21%, which means every three and a half odd years, you're doubling in size. So the number of people employed will double in size.”
Amlani: India Reduced Restaurant License Requirements From 36 to 32
“We're still grappling with 36. I think after many years of struggle, I think we've been able to get it from 36 to 32.”
Amlani: Music Serves as the Architectural Entry Point for Restaurant Concepts
“Restaurants are a multisensory experience, right? And many times, you know, the takeoff point for a restaurant could be music. So I would go to my architects, you know, and I would say, okay, This is like, you know, acid jazz. What kind of place would you want…”
Kalra: 90% of Restaurants Fail Within a Year Due to Undercapitalization
“90% around that of restaurants failed within the first year and around 96% within 18 months. And the biggest reason you won't believe is not necessarily lack of passion or getting into it for glamorous reasons. It's undercapitalization.”
Amlani: India is a Value-Conscious Rather Than Price-Sensitive Market
“India is a very value conscious market. It's not a price sensitive market. It's a value sensitive market.”
Kalra: Banks Almost Never Lend to First-Time Restaurateurs
“It's such a high failure rate business that to go to a bank and expect them to give you have a better chance at Jumping off an aircraft and surviving, then being a first time restauranteur and going to a bank and asking for money to open a new restaurant.”
Kalra: Aspiring Restaurateurs Should Start With Cloud Kitchens Over Large Venues
“I think, like I said, I think initially it's always better to be a little careful and frugal. Don't go ahead and try and open a 5000 square foot, 200 cedar restaurant. Maybe start out Today with a cloud kitchen or a small cafe.”
Amlani: Nobody Makes Money in the Cloud Kitchen Business
“Nobody's making money in cloud kitchen business.”
Kalra: Cloud Kitchen Brands Never Share Infrastructure With Existing Dine-In Restaurants
“So we don't use any of our existing infrastructure at all. Not even one restaurant. Not even a single restaurant.”
Kalra: Standalone Restaurant Margins Beat Malls Despite Lower Incidental Footfall
“Malls are good for incidental footfall, but cost prohibitive and your margins in a standalone restaurant with lower incidental footfall, your margins are going to be better than in a mall.”
Kalra: Farzi Cafe's Best-Performing Stores Are in Tier-Two and Tier-Three Cities
“Farzee Cafe is now in about 15 cities of India, and we're actually seeing some of our best performing stores to be coming out of tier two and tier three.”
Kalra: Half of India's Population Will Be Middle Class by 2030
“One in three people today is either middle class or wealthier today. By 2030, that number is going to become one in two. A country with 1.5 billion means seven hundred and fifty million people will be middle class and able to afford the products that we're sel…”
Kalra: Indian Commercial Rents Per Square Foot Exceed Trafalgar Square
“There are restaurants that I've signed within India that have lower, sorry, that have a higher rent per square foot than my restaurant in the US or Canada or in Trafalgar Square in England.”
Amlani: 85% of Operational Processes Are Identical Across All Restaurant Brands
“See, the point is what, 85% of the processes are the same for restaurant thing, right? You negotiating the right lease, getting the licenses, hiring, training, setting up management information systems, HR, licensing, all are the same. What changes is what's o…”
Amlani: India's Casual Dining Market is 4x Larger Than QSR
“They're going to CDRs a lot more. The market is four times as big, is growing at 20%, whereas QSRs have kind of hit a road bump.”
Amlani: Ideal Restaurant Economics Target a 20% to 25% Profit Margin
“There are 35% cogs, right? You got 15% labor, 15% rental, 15% incidentals, you want to make 20 to 25%.”
Dhingra: Founder-Driven Authentic Content Outperforms Agency-Directed Marketing Narrative
“No, I just feel that when you, I feel when you're authentic about your story and you do it yourself, it's a lot, it hits a lot deeper than if someone else is creating it for you. Even if some agency is building that content for you, I think it should be driven…”
Kamath: Public Markets Overvalue QSR Chains and Undervalue Dine-In Restaurants
“So when I saw QSR chains getting the multiple that they are, while they are just franchisee models, replicating a foreign product in necessarily not an innovative way, I don't think they deserve that valuation. I don't think Dine in restaurants deserve the low…”
Amlani: Novelty Attracts Initial Attention, But Comfort Drives Repeat Business
“Definitely novelty will get you the attention, but comfort will get you the repeat business.”
Kalra: Indian Food Services Market Hits $55B, Growing at 21% CAGR
“So about 40 to 50, about 50 to 55. 50 to fifty billion is what. And it's growing compounded annually at 20%, 21%.”
Amlani: India Levies a 180% Import Tariff on Coffee Beans
“For example, if you were to import coffee beans, and I think Starbucks faces this challenge. It's a 180% duty on coffee. It's more than what you'd pay for a car because you're protecting your agricultural economy.”
Kalra: Louis Burger's ₹888 Truffle Burger Drove 10% of Total Sales
“We did try with Louis burger, with the 888 rupee burger, with real truffles, real black truffle shavings. Worked very well. At one point in time, it was 10% of our sales.”
Kalra: India Will Be the Third-Largest Global Consumer Market by 2030
“But, India as a market, from a food perspective, from a consumer, consumer perspective, is going to be the biggest, ah, the third biggest consumer market in the world by 2030. After the U.S. And China.”
Kalra: Nobu is the Only Globally Successful Celebrity-Owned Restaurant
“So I think the only, only restaurant that is celebrity owned, that is a worldwide phenomenon and extremely successful is, believe it or not, Nobu. Partially owned by Robert De Niro.”
Kalra: Celebrity Restaurant Hype Only Drives Buzz for Two Visits
“In general, I think people go to restaurants for the overall experience. Celebrity can probably pull you in for the launch, can probably pull you in for hosting the right tables, getting initially the buzz going. That buzz will last as much as the first or sec…”
Kalra: Failing to Create Massive Launch Buzz Handicaps a New Restaurant
“You get to launch only once. And if you don't make a big enough buzz, you probably will have a slower, more tepid, more, a slower, more tepid kind of a, you know pickup. So I think that's not necessarily good, especially with the high stakes games that the res…”
Amlani: 12% is the Maximum Sustainable Restaurant Delivery Commission Rate
“I think there's only sustainable delivery commission that is payable is 12%. You can't pay a single rupee more than that. However, now the norm is 24 to 28%. They're signing up people at 24 and 28%.”
Amlani: Aggregator Fees and Platform Discounts Consume 55% of Order Value
“You've not just got your delivery costs, you've got your discovery costs, which means that you're paying To be visible in a carousel, you're paying to be visible in one of those collections. I think that they would easily spend about 12% more on that. So you'r…”
Amlani: Indian Restaurateurs Are Building Delivery Infrastructure Through ONDC
“We are developing and working very closely with ONDC. Now we are going to build channels. We are going to start building competencies”
Amlani: Food Delivery Business Competes With Home Kitchens, Not Restaurants
“The delivery business is competing with the kitchen, is not competing with restaurant.”
Amlani: Delivery Platforms Lose 5,000 Restaurants Weekly But Gain 6,000
“And what they have seen is that for every 5000 restaurants that come off their platform every week, they get another 6000 restaurants coming in there still.”
Amlani: Food Aggregators Open Packages to Remove Restaurant Promotional Flyers
“They actively go through your, about your packages and remove any such literature.”
Dhingra: Le15 Patisserie Operates on an 18% to 20% Profit Margin
“What margins do you operate on?
18, 20%.”
Kalra: Swiggy and Zomato Do Not Hire Employees From Each Other
“They don't even hire from each other, from what I know.”
Kalra: Restaurants Can Negotiate Lower Aggregator Commissions by Offering Exclusivity
“One way that I would recommend to people that if they're in a certain geography is that you could go the route of being exclusive. If you offer that, there is a potential of asking for lower percentages because you're in a way alleviating the ability of that r…”
Kalra: ONDC Commoditizes Delivery Through Sufficient Third-Party Logistics Aggregators
“So on this is definitely a very, is a democratization and a commoditization of delivery. Now here's the beauty. There are enough third party aggregators that can responsibly and effectively take your product from your cloud kitchen or your restaurant to the en…”
Amlani: Cloud Kitchens Only Succeed for Established Brands With Sophisticated Marketing
“Cloud kitchens work for where either you are a very strong brand that you've built over the years. You come from a certain pedigree and have the sophistication enough to understand sophisticated marketing tools, right? And CRM and to be data driven and analyti…”
Amlani: Cloud Kitchen Mortality Rates Are Twice as High as Restaurants
“For the average, if what you think it mortality rates in the restaurant businesses are high, the mortality rates in the cloud kitchen business are twice as high because you, the data which we've seen, I said. 5000 restaurants a month are going off platforms.”
Kalra Aims to Process 25% to 30% of Delivery Orders Directly
“I definitely would like a scenario where 25 to 30% of our delivery orders are done directly.”
Kalra: Indian Burgers Offer Better Differentiation Despite Lower Demand Than Pizzas
“We've seen, for example, a tougher challenge selling pizzas than burgers. Whereas the demand for pizzas is far more than burgers in India. It's like literally like our dinner and our snack and our lunch. Pizza has reached that. There are fewer burger places. A…”
Amlani: Delivery Aggregators Readily Share Regional Demand Gap Data With Restaurateurs
“The aggregators are very happy to share this information with you. You can go to them and you can ask them, Hey, listen, where are you seeing a demand supply mismatch? What is an area or gap that we can help fulfill, right? And they will very happily give you …”
Kalra: Most Indian Restaurants Source Ingredients From Individual Local Vendors
“But at this point in time, the vast majority of restaurants around the country are buying from individual vendors that they've had relationships for years.”
Kalra: Individual Local Suppliers Offer Restaurants Better Credit Than Tech Platforms
“But you get better credit from the individual vendors.”
Dhingra: Le15 Uses Cloud Kitchens to Test Demand Before Opening Stores
“What we've been doing recently is actually using the cloud kitchen model to kind of understand a neighborhood. So for example, we started a cloud kitchen in Juhu for six months and we saw that that was really successful and we said, okay, this market is succes…”
Kalra: Massive Restaurants Audits Liquor Bottles Nightly and Food Costs Weekly
“We at our company do a daily inventory of every single bottle of liquor. Every night. And we have a weekly food cost report. So every week we have a full food cost report, opening, closing, consumption, with a running like a real time food cost and COGS report…”
Amlani: Digital Restaurant Menus Generate Higher Average Order Values Than Print
“And we've seen, actually, we've seen higher AOVs on digital menus than we're seeing in printed menus.”
Kalra: 45% of Massive Restaurants' Fine Dining Patrons Are Vegetarian
“When you go as a family, it's just more comforting to see a dal makhani or a paneer makhani or something like that, because 45% of all consumers that come to my restaurants are naturally vegetarian.”
Amlani: Impresario Uses In-Restaurant Video Cameras for Table Heat Mapping
“We use our cameras to do table heat mapping. We've, so so for example, we like to see which are the tables that people like to sit at, which are the tables that get filled first. Our camera technologies are helping us do that.”
Kalra: Massive Restaurants Extensively Uses Generative AI for Images and Copywriting
“We don't use table mapping but we're using AI very extensively. Not for menu generation, but for image creation, for even copywriting. Okay. And we're using it also for videos.”
Amlani: Pinterest-Driven Trends Create Dozens of Identical Venues Within Three Months
“You see something which is trending on Pinterest, you can bet your life that Three months later, you're going to see 40 restaurants, which are going to look exactly the same.”
Kalra: Restaurant Industry Trend Cycles Are Much Shorter Than Fashion Trends
“The restaurant industry has a cycle shorter than any other industry. Every six months, food tastes change, design tastes change, entire, you know, the entire vibe around a certain, you know, area changes, entire markets change. So I think the cycles are smalle…”
Dhingra: Colaba Cafe Sales Actually Grew After Star Head Chef Departed
“So actually when I had the Colaba cafe, I had a friend of mine who was Colombian and came to work as the head chef. And a lot of it was driven by him. You know, the place became about him and a lot of the people that came, came for him. And then when he left, …”
Amlani: Prior Workplace Pedigree Matters More Than Hospitality Degrees for Hiring
“When it comes to general staff, I, we are really not looking at the institutions. We are looking more at the pedigree of the institutions that they have worked at. Because then you can really tell, you know, where they're going to come from.”
Kalra: QSR Employee Attrition Exceeds 100% Annually Versus 30% in Casual Dining
“Now, typically in the QSR, the retention rates, in fact, the attrition rates are over a hundred percent. So you're talking about a 120% attrition, which means more people in a year, in a set finite period, leave the organization and actually join. Whereas in t…”
Kalra: Ganpati and Navratri Sharply Reduce Indian Dining and Non-Veg Consumption
“When you have Ganpati in Bombay, you're going to see a reduction in dining out. You're going to see a reduction in non-witch consumption. You're going to see a reduction in alcohol consumption. People are going to not go out as much. When you have Navratra in …”
Kalra: 50 Lakh INR is Not Enough to Build a Big Restaurant
“50 lakhs, he won't be able to build a big restaurant, to be very honest.”