Domino's Pizza India to spend 2.5 bln rupees on expansion

NEW DELHI (Reuters) - Domino's Pizza India, a franchisee of U.S.-based Domino's Pizza Inc, plans to invest 2.5 billion rupees over the next 3 years to open new outlets, a senior official said on Monday.

"We want to be a 500 stores company by 2010," Ajay Kaul, the firm's chief executive officer, told reporters on the sidelines of the World Economic Forum India summit.

He said the investment would be spent on expansion as well as on upgrading existing manufacturing facilities.

Kaul said the company had set a revenue target of 10 billion rupees by 2010, but did not reveal expected revenues for the current fiscal ending March 2008.

Domino's India currently runs 180 stores across 33 cities.

Indian drugs and chemicals maker Jubilant Organosys holds a 67 percent stake in Domino's Pizza India, while the remaining 33 percent is owned by JP Morgan.