Heritage Foods Ltd, a Hyderabad based firm, has plans of investing Rs 170 crore in two of its core divisions. This will give them the much. This move holds greater significance as the company is approaching towards becoming a $ 1 billion company by 2020. The investments would be made in around 4 years to help the company grow better. The investment would pitch in Rs 30 crore per year in order to form the backend of the infrastructure of its dairy business. The company is expected to have better market share in Northern and Western parts of the country. Heritage Foods Limited already has a strong foothold in Andhra Pradesh, Telangana, Karnataka, Tamil Nadu and Odisha.
Heritage Foods Ltd is owned by family members of Andhra Pradesh C.M Mr. N. Chandrababu Naidu. It has started its operations in Delhi-NCR, Mumbai and Pune. The company has strong tie ups with local farmers to procure milk.
Under the expansion plan amounting to Rs 170 crore, the company plans up on creating nearly 100 more retail outlets in next 4 years. This will increase the total floor space of the company to 600,000 sq.ft. At present, Heritage Foods has almost 90 stores under the Heritage Fresh brand.
As per the statistics released by National Dairy Development Board (NDDB), demand for milk will rise from 138 million tons to 100 million tons by 2022. Heritage Foods expects to capture a large chunk of this market share. To become a $ 1 billion company Heritage is expecting higher sales from value added products such as ice creams, butter, flavored milk, curd etc. a total of 50,000 litres of milk is supplied by the company to Mumbai and Pune and 10,000 litres to Delhi-NCR. In four years, it expects to sell about 300,000 litres a day in each of NCR and Mumbai markets.
About Heritage Foods
Heritage Foods is one of the fastest growing Private Sector Enterprises in India, with five-business divisions viz., Dairy, Retail, Agri, Bakery and Renewable Energy under its flagship Company Heritage Foods Limited. The annual turnover of Heritage Foods crossed Rs 2072.97 crores in financial year 2014-15.Presently Heritage’s milk products have market presence in Andhra Pradesh, Telangana, Karnataka, Kerala, Tamil Nadu, Maharastra, Odisha and Delhi and its retail stores across Bangalore, Chennai and Hyderabad.