We See Kashmir an Emerging Diary Market: Chairman
Srinagar – Calling Kashmir a vibrant emerging market, Pune-based Parag Milk Foods- a private dairy player and manufacturer of brands such as Go Cheese and Gowardhan Milk, Thursday unveiled its range of products in the Valley.
Chairman and Founder of Parag Milk Foods (PMF), Devendra Shah, said that their aim was to create a white flood with dairy parlours across the country with its range of products like milk, cheese and yoghurt outlets, through the franchise route.
Our company has great plans for the Go and Gowardhan range of dairy products. Our vision is to be seen as the fastest growing & most innovative dairy producer in the sector. The Ultra High Temperature (UHT) Milk launch is one such step in that direction. We plan to improve our sales through new product launches and constant innovations, Shah told reporters while addressing a press conference at a local hotel here.
With launch of UHT Milk under Go brand, we are further expanding the product basket under the brand portfolio and also extending the reach of Go brand beyond urban Cheese consumers to much diverse consumers in the hinterland of the country, he said.
The officials at PMF claims that their current revenues was at Rs 920 crore and projects Rs 3,000 crore in revenues by 2015. They said its current operations include 3,000 specially bred Holstein Friesian cows, 3,200 village collection centers, 1.2 lakh retailers and 1,200 distributors.
Over the last 20 years we have created value for farmers as well as delighted consumers with innovative and high quality products. Parag is committed to bring new and exciting products to the market and emerge amongst the top value-added food companies in India, Shah said.
Shah said that the key objective in entering the UHT milk space is to cater to the growing needs of young consumers, who seek safety, nutrition and convenience.
Increasing urbanization and working women profile will increase the demand for safe, convenient and ready to drink milk in India. With UHT milk being safe and ready to drink without the need of boiling, its popularity among urban households is expected to increase significantly in the near future, he said.
The chairman, PMF said, Parag Milk Foods has great plans for the Go and Gowardhan range of dairy products. Our vision is to be seen as the fastest growing and most innovative dairy producer in the sector. The UHT Milk launch is one such step in that direction. We plan to improve our sales through new product launches and constant innovations, he said, adding With launch of UHT Milk under Go brand, we are further expanding the product basket under the brand portfolio and also extending the reach of Go brand beyond urban Cheese consumers to many diverse consumers in the hinterland of the country.
North head, PMF, Joginder Ranjan said that the aim to hit the valley market was to give better milk products to the consumers.
This is an untapped diary market, which we believe has a huge potential emerging as a successful turf for us. We will provide the better quality dairy products, he said.
Parag is one of the leading private dairy companies in India and markets its products under the Gowardhan, GO and Pride of Cows brands. It has a market leading position in cheese and ghee segment among the pizza chains.
Of late, Parag managed to raise Rs 155 crore ($28.8 million) from IDFC Alternatives (earlier known as IDFC Private Equity), as part of a second round of private equity fundraising. The money will be used to build capacities in various product lines.
The company processes close to 11 lakh liters of milk per day across its two plants in Manchar near Pune and Palamner in Andhra Pradesh. Parag has the largest cheese plant in Asia with a capacity of 40 tonnes per day. Pertinently, the overall dairy market in India is estimated at $60 billion, while cheese accounts for $100 million. The market is dominated by cooperatives, though PMF claims a 30 per cent share of the cheese market.
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