Discover the Innovative Approach to North Indian Cuisine at Daryaganj
Daryaganj, a popular North Indian restaurant brand, has made history by being the first casual dining restaurant to feature on Shark Tank India. During their pitch to the Sharks, the founders Raghav Jaggi, Amit Bagga, and Gurpreet Singh asked for 0.5% equity at a valuation of 180 Crores. After negotiations, the Sharks agreed to a deal with Aman for “1% for 90 lakhs,” which was lower than the original valuation but agreed upon as Aman had already visited the restaurant and expressed his admiration for their products.
Innovation and technology are at the core of Daryaganj’s approach to customer service and overall operations. The restaurant has invented unique packaging concepts like the Five Senses Delivery, Saunf Mishri Box, and Kulfi Drip Tray. The menu offers a range of classic and innovative dishes made only with the freshest and highest-quality ingredients.
Their customer base spans three generations, and the brand has served over 6 lakh people to date, with an annual recurring revenue of 45 crores poised to reach 100 crores by the end of this year. The brand has profitable outlets with an EBITDA of 20%, and corporate EBITDA of 11%, with an excellent revenue per seat of 90,000 per month. The highest revenue per square foot in the CDR segment is 4000 rs per sq ft per month (on carpet area), with a revenue recovery rate of 310% compared to pre-Covid levels. The restaurant has an average rating of 4.2+ on Zomato, Swiggy, and Google.
Daryaganj has won several awards, including Best North Indian Restaurant Chain, Best Packaging, Best Butter Chicken, and Restaurateur of the Year for Co-founder Amit Bagga. The brand’s mission is to offer authentic North Indian cuisine, warm service, and an overall excellent experience at a value-for-money price.
The brand currently has five casual dining restaurants and two cloud kitchens, with plans to open seven more casual dining restaurants and eight more cloud kitchens in Delhi NCR, Punjab, and North India, reaching 22 stores by September 2023, with the ultimate goal of opening 200 plus stores in seven years. The brand also plans to expand internationally to Thailand, Singapore, UAE, Canada, and Australia.
Daryaganj was launched in 2019 as a tribute to the late Kundan Lal Jaggi’s legacy, the inventor of Butter Chicken and Dal Makhani. The brand has successfully revived its secret recipes from 1947, making them the most popular North Indian restaurant chain.
Amit Bagga, CEO, and Co-founder 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 says,” 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”.
Daryaganj has made history by being the first casual dining restaurant brand to feature on Shark Tank India. With its innovative approach to customer service and operations, commitment to using only the freshest and highest-quality ingredients, and plans for expansion, the brand is poised to continue its success story in the years to come.
Conclusion
Daryaganj’s success can be attributed to their commitment to quality, innovative approach, and dedication to providing a superior customer experience. Their appearance on Shark Tank India is a testament to their impressive achievements and plans for future growth. As the first casual dining restaurant brand to be featured on the show, it has set a high bar for the industry and is sure to inspire many others to follow in its footsteps.
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