Was land allotted to Patanjali at a throwaway price, asks HC

Was land allotted to Patanjali at a throwaway price, asks HC

When Baba Ramdev announced a year ago that he is all set to take his company go past beyond Rs.10,000 revenues, not all believed it but the results are out.

"We will not divide our menu into North Indian and South Indian", Ramdev told TOI.

Patanjali ghee is the largest-selling product in the company.

"Honey (sales) is around Rs 350 crore and would grow to Rs 500-Rs 600 crore this year".

Growing at a rapid pace the Patanjali brand promoted by Baba Ramdev has offered good competition to other brands both local and worldwide, and according to Ramdev himself, Patanjali will become the largest brand in India within 1-2 years. Besides, the company is aspiring to further strengthen its presence and lead in most of the product categories. "We plan to give tough competition to global fast food chains too".

The Haridwar-based FMCG company more than doubled its turnover to Rs 10,561 crore in 2016-17 compared with Rs 5,000 crore in 2015-16.

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Nirupam has alleged that while the current market value of the said land is at least Rs 100 crore per acre, Ramdev's Patanjali Ayurveda received it at a throwaway price of Rs 25 lakh per acre.

Patanjali Ayurved that covers products ranging from food, personal care, home care and health care recorded a turnover of Rs 9,346 crore, followed by Divya Yog Pharmacy that deals in ayurvedic medicines (Rs 870 crore) and Patanjali Gramudyog that deals in cattle feed and related products (Rs 345 crore).

"We are working on a business plan and branding strategy to enter the restaurant business by serving nutritious and hygienic food", he said.

"Our Noida facility would have a production capacity of Rs20,000 crore, Nagpur 15,000 crore to Rs 20,000 crore and Indore Rs5,000 crore, " Ramdev pointed out.

Last year, Ramdev said he was planning to launch "desi" jeans, women's and office wear. A jump from Rs 5000 crore revenues to Rs 10,216 crore in a year is no small feat, especially in the cut-throat FMCG sector. "The company will take time to understand the restaurant business before opening one", Patanjali CEO Acharya Balkrishna said, adding that it would take a year or even more.

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