Bharat Petroleum Corporation Limited, a PSU oil firm, is now planning to convert its 60 'In&Out' outlets into profit making ventures. The company has plans to convert those into food courts and coffee shops so that those outlets would able to be more profitable. This step will be taken by the company by next fiscal.

For this purpose the company has tied up with leading food giants like McDonalds, Subway and Nirula's. The company has investment plans of around Rs. 20 Cr for this revamp plan.

"Many of these outlets were incurring losses. We have shut down a few while converting a few into food courts, coffee shops and book stores. We propose to have 60 such converted outlets next fiscal," said George Paul, general manager of BPCL.

The state run petroleum major has 300 outlets across the country and already has revamped 50 of them. The company is expecting a revenue of Rs 400 Cr from the 'In&Out' outlets this year.

While last year the company had posted the revenue from these outlets of Rs 290 Cr. BPCL posted revenue of Rs 85000 Cr in last fiscal from its retail business. The company has raised its guidance this year and expecting a 20% growth this year.