Rejoicing Foodworks CEO confident Türkiye’s actions are not affected by tensions in India
New Delhi: India’s fast food restaurants, the rejoicing Food Ltd (JFL) operates more than 900 restaurants in Turkey, said that despite the diplomatic pressures encountered between New Delhi and Ankara in between the “sindoor” operations, he called for a ban on travel to the country, despite the diplomatic pressures encountered by New Delhi and Ankara during the “sindoor” operation.
“I won’t be too worried about macroeconomic factors or any geopolitical risks affecting Turkey,” Sameer Khetarpal, MD, CEO and MD, said on Wednesday’s post-profit call.
The rejoicing food factory holds the main franchise rights of Domino’s pizza in Turkey through its subsidiary DP Eurasia NV. DP Eurasia is the exclusive franchisee of Domino Pizza in Türkiye, Russia, Azerbaijan and Georgia.
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As of the March quarter, cheerful Foodworks operated 906 stores in Türkiye, including 746 of Domino’s pizza chain, while Coffy is 160 of the Turkish coffee chain. Overall, the company operates 3,316 stores and 2,304 stores in India alone.
“If you go to Turkey, they ignore any political changes, whether it’s against dominoes and Coffy, which is actually a Turkish brand. They don’t care about any geopolitical risks, whether it’s tariffs or Russian-Ukrainians, or anything that’s happening on the Indian-Pakistan border.
Despite the fluctuations in USD, Türkiye’s real GDP (adjusted to inflation) has always increased by 3% to 4%. Khetarpal added that inflation has eased over the past two and a half years, resulting in lower interest rates, indicating an improvement in macroeconomic conditions.
“I am satisfied with the macroeconomic situation in Turkey and the core arguments we have – it is the largest consumer base outside of Europe and Russia, the youngest population, almost three and a half, four times, GDP per capita for India to India.
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After India’s recent clash with Pakistan, countries such as China and Türkiye have made public and support Pakistan, while condemning India’s attack on terrorist sites in neighboring countries.
Therefore, there have been widespread calls for boycotting Turkish goods and stop traveling to Türkiye. Online travel portals reported a surge in cancellations and issued warnings to avoid the country.
Meanwhile, the company’s consolidated revenue increased by 33% year-on-year in the quarter ended March 31, 2025 ₹210.32 million. Profits fell 76% during the period ₹$4.933 billion in fees and investment in overseas subsidiaries. Fees increased by 32.3% in the quarter ₹20.449 million.
Its revenue comes from international sectors including Türkiye, Azerbaijan and Georgia ₹This quarter was 4.802 million.
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Over the entire year, JFL’s operating revenue grew 44% ₹81.417 million. It has added 325 stores over the past twelve months.
The cheerful Foodworks Limited operates 3,316 stores in six markets (India, Türkiye, Bangladesh, Sri Lanka, Azerbaijan and Georgia). The group owns franchise rights for three global brands – Domino, Popeyes and Dunkin, as well as two of their own brands, Hong’s Kitchen and a Turkish coffee.
The sponsor of HT Media Ltd published Mint, a rejoicing food factory closely related. However, there is no promoter crossover.
