BOMBAY <CURY> BASES GROWTH ON LOCATION, COSTS Bombay Palace Restaurants Inc, with its emphasis on location and low food costs, expects its 1987 sales to increase 150 pct to about 22 mln dlrs from about 8.5 mln dlrs in 1986, according to President Sant S. Chatwal. Chatwal told members of the Dallas financial community at a lunchtime briefing, "we go for prime locations everywhere and make sure our leases are very favorable." As previously announced, the company expects to report 1986 earnings of about 700,000 dlrs, or 31 to 33 cts a share, on revenues of 8.5 mln dlrs. Chatwal said the final figures would be released in about two days.