The Company's business, results of operations and financial condition could be adversely affected by adverse developments in its relationship with, or performance of, third-party food delivery apps.

The Company is exposed to all risks associated with leasing real estate, and any adverse developments could materially affect its business, results of operations and financial condition.

The Company generates all its revenue from Pune, Maharashtra and nearby locations; any event adversely affecting the consumer food services industry in this region could materially hurt its business.

The Company proposes to utilise a significant portion of Net Issue Proceeds toward construction of its Haveli Project in Lonavala, Maharashtra, exposing it to project execution and completion risk.

The Company, its partnership firm and its Promoters are parties to certain tax proceedings; an adverse decision in such proceedings may materially affect the Company's business and financial condition.

If the Company is unable to continue building the "Pind Punjab" brand, its business, reputation and results of operations may be adversely affected.

The Company may not be able to identify and obtain suitable restaurant locations, impacting its ability to achieve its growth strategy and development commitments, adversely affecting its business.

The Company had negative cash flows in certain fiscal years from its investing and financing activities; sustained negative cash flows going forward would adversely affect its results of operations.

Certain discrepancies and non-compliances have been noticed in some of the Company's financial reporting and records relating to filing of returns and deposit of statutory dues with tax authorities.

The Company has had instances of regulatory non-compliance, including certain lapses relating to regulatory filings, internal controls and internal record-keeping under applicable company law.