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Jubilant Foodworks’ QSR crown faces first real test
Financial Express Pune
|January 12, 2026
Devyani-Sapphire merger creates a $1 billion challenger in India's fast-food market
FOR YEARS, JUBILANT Food-Works has towered over India’s quick-service restaurant (QSR) market.
The operator of Domino’s Pizza and Dunkin’ Donuts built its dominance on speed, scale and relentless execution, opening a yawning gap with rivals.
With a consolidated topline of ₹8,142 crore in FY25, analysts expect revenues to cross ₹9,200 crore in FY26, alongside a store network approaching 4,000.
That long-unquestioned leadership, however, is now set for its toughest challenge yet.
This story is from the January 12, 2026 edition of Financial Express Pune.
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