Chandrababu run Heritage Foods eyes Rs 6K cr sales by 2022

Heritage Foods, promoted by family of Andhra Pradesh Chief Minister N Chandrababu Naidu, today announced a foray into North India with dairy products as it aims to become a national player and clock Rs 6,000 crore revenue by 2022.

"We have entered into North India with the promise to deliver freshest milk to the consumer. We want to be a national player and focus on value added products. We are targeting revenue of Rs 6,000 crore in five years," Heritage Foods Executive Director Brahmani Nara told PTI.

The company said milk supplied in Delhi will be collected from farmers located just 5 hours away, ensuring its freshness and quality.

Heritage Foods, which earlier this month completed acquisition of dairy business of Reliance Retail, will offer entire range of milk and milk products such as curd, butter, buttermilk and ice cream.

The company, which has a strong presence in South India, reported sales of Rs 2,380 crore in financial year 2015-16 and dairy accounted for 75 per cent of its total sales.

Nara said the company is in talks with an international firm for a joint venture to launch products in the curd segment and would make an announcement soon.

She, however, did not disclose the name of the company.

Nara also said the products would be priced at par with that of competitors such as Amul and Mother Dairy.

Heritage Foods is a private sector enterprise with several business divisions including dairy, retail, agri, bakery and renewable energy.

The company currently operates 15 milk processing plants near its markets in 15 states. It also has 5 processing plants post-acquisition of Reliance Retails dairy business.