Starbucks completes one year in India

Seattle's best coffee, Starbucks, is celebrating its first anniversary in India. After a dream debut in Mumbai in October 2012, Tata Starbucks opted for a calibrated expansion strategy, opening only half the stores it had planned to open during the year.

But the company insists that both JV partners, Tata Global Beverages and Starbucks, are extremely happy with Starbucks' performance and trajectory in India and will be entering new markets in its second year of operation. In an interview to CNBC-TV18 Avani Davda, CEO, Tata Starbucks spoke about the venture and the road ahead.

Also Read: McCafe to make India debut, will it attract consumers?

Below is the edited transcript of Davda's interview with CNBC-TV18

Q: What does the way ahead look like?

A: Every one is aware that the coffee house a segment as whole is growing double digits. It is a very exciting market and ample of space for different players to be here. We believe that we have a very distinct coffee house experience and as we grow respectfully in India our challenge is really how do we weave the Indian consumer into our third place and how do we grow respectfully in terms of the food and beverages that we offer.

Q: What is the vision on profitability? How do both partners look to achieve profitability from individual stores?

A: A company like Tata which run several corporations very successful ones, when they look at a market like India or any other market in Asia we are going to be for the long term. The investments are made with definite returns in mind, but we are not here to share financial information in their right aspect. But I would like to share with you that the board is extremely happy with what we have achieved so far and both partners are committed to this market.

On October 21, 2013, Tata Global Beverage closed at Rs 159.65, down Rs 4.4, or 2.68 percent. The 52-week high of the share was Rs 181.70 and the 52-week low was Rs 122.00.

The company's trailing 12-month (TTM) EPS was at Rs 4.64 per share as per the quarter ended June 2013. The stock's price-to-earnings (P/E) ratio was 34.41. The latest book value of the company is Rs 37.49 per share. At current value, the price-to-book value of the company was 4.26.

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