Hyderabad: Ready-to-eat food products company iD Fresh Food is planning to set up a large unit in Hyderabad next year to meet the needs of its growing batter business in the city where it sees the potential of Rs 200-crore market in the next five years. The company currently operates a unit at Prashanti Nagar Industrial Estate of Kukatpally in Hyderabad with a 20,000 kg of batter per day capacity.
Musthafa PC, CEO, and co-founder, iD Fresh Food said, “We are commissioning the world’s largest idli batter plant in Bengaluru by the end of this month with an investment of Rs 55 crore. Hyderabad too has a large potential, and we will set up a large plant here as well, which may have 1,00,000 kg of batter per day capacity. We are in talks with the Telangana government and exploring locations around Hyderabad currently.”
The company has seen a 25-30 per cent growth in overall sales during Covid-19 in Hyderabad, in spite of the reduced institutional sales business. The city accounts for 20 per cent of the national sales contributing Rs 48 crore each year, and dairy business will add another Rs 12 crore.
“Pan-India, we have done Rs 240 crore business last year and this year, we expect this to go up to Rs 330-350 crore. We touch 30,000 outlets across our markets every day and have presence through e-commerce platforms,” he informed.
iD Fresh Food has expanded its dairy portfolio with the introduction of iD Curd into Hyderabad market, where it will be made available in 1,000 stores. It is also looking at contract manufacturing arrangements in Hyderabad.
Funded by Premji Invest and Helion Venture Partners, iD ventured into the dairy segment with its paneer product in 2016, which today contributes Rs 6 crore worth of business. In Hyderabad, iD holds around 25 percent of the market share for paneer since the launch of the product. Musthafa said, “As part of our growth strategy, we are looking at a revenue of Rs 40 crores for FY21 from our dairy business.”