Burma Burma Eyes IPO in 3 Years, Aims for Rs 300 Crore Revenue by 2027 – Co-Founder Chirag Chhajer Shares Growth Plan

Burma Burma, a well-known vegetarian Burmese restaurant chain, is gearing up for a public listing. The company plans to launch its initial public offering (IPO) within the next three years, aiming for significant growth before going public.

Fundraising and Expansion Goals

The co-founders, Chirag Chhajer and Ankit Gupta, revealed that the company recently raised $2 million and is seeking an additional $3 million in investments. With plans to triple its presence, Burma Burma currently operates 13 restaurants and delivery kitchens in major Indian cities, including Delhi, Gurgaon, Noida, Mumbai, Bengaluru, Hyderabad, Kolkata, and Ahmedabad.

Revenue Targets Before Going Public

Burma Burma is on track to achieve ₹300 crore in revenue by 2027, with a target profit margin (EBITDA) of 20% before going public. Currently, the company is generating ₹120 crore in revenue and expects to close the year at ₹150 crore.

Doubling in Size Over the Next 2-3 Years

The company has seen impressive growth, with revenue increasing from ₹29.5 crore last year to ₹53 crore in the first half of this year. Burma Burma aims to double in size within the next two to three years, positioning itself for strong financial performance ahead of its IPO.

Focus on Indian and International Markets

While the company’s main focus remains on expanding its footprint in India, Burma Burma is also exploring international markets, particularly the UAE and the UK, for potential growth opportunities.

Revenue from Delivery Platforms

About 12% of Burma Burma’s overall revenue comes from delivery services, and the company expects this percentage to remain steady in the future.

Strong Growth in Recent Years

Over the past year, Burma Burma has doubled its number of outlets and its annual recurring revenue, jumping from ₹46 crore in 2023 to over ₹100 crore in 2024. The company is optimistic about the potential for even greater growth in cities like Mumbai, Bengaluru, and NCR.

Innovation in Burmese Cuisine

Burma Burma also boasts its own research and development lab, where the team continuously works on innovating with new ingredients. The company remains focused on expanding and exploring the richness of Burmese cuisine.