Daryaganj, the legacy brand from the streets of Delhi is renowned for its dedication to using only the freshest and highest-quality ingredients in its menu, which features both classic dishes and innovative new creations that offer a sensory feast.
Daryaganj has pitched for 90 lakhs of Investment in exchange for 0.5% Equity, taking their valuation to INR 180 Crores. The Sharks further negotiated the deal at Shark Tank after which Daryaganj agreed to a deal with Aman for “1% for 90 lakhs,” Which was much lower than the valuation asked earlier. But the team Daryaganj agreed to the deal as Aman Brings in a lot of value and would be a great mentor for the team.
Also, Aman already knew about the brand and had visited a few times. He expresses that he is a big fan of our products. A family office named VVLS is also an early-stage angel investor.
The brand embraces an innovation and technology-first approach, employing it in every aspect of the customer experience and overall operations. Daryaganj has introduced several groundbreaking packaging concepts, such as the Five Senses Delivery, Saunf Mishri Box, and Kulfi Drip Tray.
Amit Bagga, CEO and Co-founder of Daryaganj, said, “I believe to win a lottery, you need to at least buy a ticket, which means to achieve something really big, you need to at least try and not expect it to happen on its own. With a decision to apply to Shark Tank, Daryaganj restaurants surpassed five rounds to make it to the studio, pitching to the sharks directly. Daryaganj is the first Casual dining restaurant brand ever to be featured on Shark Tank India.”
Raghav Jaggi, Founder, and Promoter at Daryaganj, said,” My Grandfather Kundan Lal Jaggi created what the north Indian tandoori cuisine to the world is. He was the inventor of Butter Chicken & Dal Makhani, and following his principles, we are taking his legacy forward”.
Catering to all three generations, Daryaganj has served over 600,000 customers and boasts an annual recurring revenue of 45 crores, with plans to reach 100 crores by the end of the year. Their outlet-level EBITDA is at 20%, with each outlet profitable individually, and corporate EBITDA at 11%. Their revenue recovery compared to pre-covid is an impressive 310%, and they have an average daily table turn of 2.7 times their seating capacity. Additionally, they have an excellent average rating of 4.2+ on Zomato, Swiggy, and Google for all their restaurants.
Daryaganj has won ten prestigious awards this year, including the Best North Indian Restaurant Chain, Best Packaging, Best Butter Chicken, and Restaurateur of the Year for Co-founder Amit Bagga.
The Daryaganj brand currently has five casual dining restaurants (CDR) and two Cloud Kitchens (CK), with plans to open seven more CDR outlets and eight more CK in Delhi NCR, Punjab, and North India by September 2023, doubling their current revenue. Their long-term plans include expanding into South and West India, with a goal of opening 70 outlets within three years and 200+ stores within seven years.
The brand is also planning for international expansion in Thailand, Singapore, UAE, Canada, and Australia, with all stores being company-owned. The brand has already raised funds for this year’s expansion, but they remain open to exploring strategic investors for future growth.
Daryaganj has outlets in prominent locations such as Worldmark 1, Aerocity; Regal Building, Connaught Place; Pacific Mall, Tagore Garden; Ambience Mall, Gurgaon; and DLF Mall of India, Noida, UP. They also have current Cloud Kitchens at Rajouri Garden and Noida, with plans to open at least eight more in the future.
To support their expansion, Daryaganj is exploring various models, including self-funded leased company-owned company-operated (COCO) stores, property owner/property developer-funded stores with a higher rental or revenue share in return for their investment in the restaurant Capex, leasing out ready F&B spaces at 5-star hotels at prime locations, and an infra leasing model with a minimum guarantee on the investment and additional upside from revenue share for the investor.
