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Jubilant FoodWorks | 2,455 Domino’s stores, and behind them an exit from Dunkin’

2026.03.26

Article summary

Jubilant FoodWorks, established in 1995 and headquartered in Noida, is a major QSR operator and the master franchisee for Domino’s Pizza in India. At the end of March 2026 it had 2,455 Domino’s Pizza stores in India and 3,636 stores in six countries across the group, having opened 351 new stores in FY2026. Consolidated revenue for FY2026 (fiscal year ending March 2026) was ₹9,513 crore (1 crore = 10 million rupees), and for January to March 2026 revenue was ₹2,499 crore (up 19% year on year) with net profit of ₹82 crore. It also operates Popeyes, Hong’s Kitchen, and COFFY of Turkey, while Dunkin’ has shrunk to 27 stores and will not be renewed when the contract expires on December 31, 2026, ending in withdrawal. Domino’s Pizza accounts for more than 90% of revenue.

This article is based on what we could verify As of September 19, 2026 This page is based on the disclosures and news reports from each company that we were able to confirm as of that date. Amounts in the text follow the notation commonly used in India, with ₹1 crore = 10 million rupees, and yen figures are approximations calculated at a little over 1.7 yen to the rupee. Store counts, funding raised, and results at Indian companies change over short periods, so when making a business decision, please check the latest information in primary sources such as each company's own announcements.

Jubilant FoodWorks is the master franchisee for Domino’s Pizza in India and has the largest store network in Indian QSR. At the same time, it is letting go of Dunkin’, which it also held, when the contract expires at the end of 2026. It shows where a company that holds several brands draws the line between what it keeps and what it shuts down.

Company profile

Item	Details
Year founded	1995
Headquarters	Noida (Uttar Pradesh)
Management	Chairman: Shyam S. Bhartia／CEO&MD: Sameer Khetarpal
Revenue	₹9,513 crore (FY2026 = fiscal year ending March 2026; about 166 billion yen)
Number of stores	3,636 stores in six countries (end of FY2026), of which 2,455 are Domino’s Pizza in India
Employees	More than about 30,000
Listing	Listed on the BSE and NSE
Main brands	Domino’s Pizza, Popeyes, Hong’s Kitchen, COFFY (Turkey). Dunkin’ exits when the contract expires at the end of 2026

A company that has narrowed itself to pizza

In FY2026 (fiscal year ending March 2026) it opened 351 new stores over the full year, reaching 3,636 stores in six countries. Of those, Domino’s Pizza in India accounts for 2,455. For January to March 2026, revenue was up 19% year on year at ₹2,499 crore and net profit was ₹82 crore.

Domino’s is strong in India because pizza is a product that is easy to adapt for vegetarians. Dough, sauce, and cheese are the base, and whether to add meat is only a matter of which topping goes on top. Compared with chains that carry products which have to use beef, the burden of reworking the menu was small.

What the brand it shut down tells us

Dunkin’ had shrunk to 27 stores as of December 2025, and in March 2026 the company announced that it would not renew the franchise agreement that expires on December 31, 2026. Because Domino’s Pizza accounts for more than 90% of revenue, the company says the impact on results is limited.

The combination of doughnuts and coffee did not mesh with breakfast habits in India. In urban India, chai and fried snacks are the standard in the morning, and it is hard to match either the price or the occasion when bringing sweet baked goods into that setting. The fact that more than ten years produced only 27 stores is a useful input when judging whether a foreign restaurant brand will work in India.

That it has newly taken on COFFY, a coffee chain from Turkey, can also be read as trying a different way in with the same drink.

Points for Japanese companies

If you are looking for a partner to open a restaurant franchise in India, an operator with several brands such as Jubilant is a candidate. Because it already has the kitchen, delivery, and staffing systems in place, the launch is fast. Its partner, however, allocates resources after comparing several brands. If the numbers do not come, the contract drops off the renewal list, as Dunkin’ did.

When a Japanese restaurant business partners in India, it needs to look first at where its own brand will rank within that partner.