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

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

As per market experts, the Yoga followers of Baba Ramdev are the loyal customers of Patanjali. "Just because I am a baba does not mean we cannot marry modernity with spirituality, we can make, let's say desi jeans", Ramdev told the Telegraph.

Patanjali Ayurved, which has taken on the likes of Unilever with its range of natural and ayurveda nutrition and personal-care products, plans to enter the restaurant business in India and compete with McDonald's Corp., Kentucky Fried Chicken Corp. and Subway Restaurants. By next year, Patanjali would be in the leading position and in most of the product categories, it would be number one, " Ramdev said.

This way, Patanjali has become India's 3rd largest FMCG company, beating traditional, and established companies such as Nestlé, Godrej Consumer, Britannia, and Dabur.

Talking about its distribution network, the yoga practitioner said, "We will create more entrepreneurs".

Additionally, a PTI report yesterday said that Ramdev is exploring several new initiatives to open a chain of restaurants under the Patanjali brand.

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The aim, according to Ramdev, is to wean Indians off what he considers unhealthy food. But, as the consumer base shifts to Patanjali brand, the company is confident to break the monopoly and is targetting revenue of Rs 20,000 crore in financial year 2017-18 (FY18). In 2016-17, Patanjali Ayurved contributed Rs 9,634 crore to its turnover, while Divya Pharmacy, which manufactures ayurvedic medicine, had clocked Rs 870 crore sales.

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.

Now operating primarily from Hardwar, Patanjali is looking to set up facilities at destinations such as Noida, Nagpur and Indore, among others, that would take his production capacity to Rs 60,000 crore in the next one year from Rs 35,000 crore now.

He jokingly said that the company's target to double the turnover by next fiscal will certainly give sleepless nights to foreign MNCs operating here.

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