RBA Q2 FY27 Guidance vs Delivery (RBA Management Mirror)

India Store Additions Pace Reaffirmed Against 80-Store Target Guided in Jun'26 Qtr; Forward Pace Upgraded to 80-100

In Sep'26 Qtr, management reported the India store network reached 607 restaurants, contributing to a consolidated increase of 75 stores YoY. This operational pace aligns with the earlier guidance issued in Mar'26 Qtr and reaffirmed in Jun'26 Qtr to add approximately 80 restaurants annually in India using a cluster-based rollout. Looking ahead, management upgraded its annual build-rate guidance, transitioning from the historical 50 to 70 range toward adding 80 to 100 restaurants annually in the future. The real estate pipeline is now being developed 6 to 8 quarters ahead to ensure a linear opening schedule, with internal EBITDA projected to fully fund India expansion next year without utilizing primary equity capital.