What Happened to Daryaganj After Shark Tank India?

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Kundan Lal Jaggi was the original inventor of butter chicken & dal makhani. Raghav is the grandson of Kundan Lal Jaggi.

Who is the Founder of Daryaganj?

Raghav Jaggi, Gurpreet Singh & Amit Bagga are the founders of Daryaganj. They are from Delhi. 

Daryaganj Before Shark Tank India?

Raghav wanted to revive his grandfather’s legacy. That’s why he opened Daryaganj in 2019. Currently, they have 5 restaurants and 1 cloud kitchen. All the restaurants are located in Delhi. CapEx for each new outlet is ₹1.5 ~ ₹1.75 Crores.

Raghav worked in a startup before. Amit is the CEO & co-founder of the company. Raghav is the founder of the company & Gurpreet is the main chef & COO.

Daryaganj has 3 things that can’t be replicated easily.

  1. They have a legacy of Kundan Lal Jaggi which can’t be replaced.
  2. Every single restaurant is profitable.
  3. Daryaganj is cash flow positive.

Equity Structure of Daryaganj

Raghav Jaggi50%
Amit Bagga20%
Angel Investor19%
Gurpreet Singh2.5%

What are the Annual Sales of Daryaganj?

Fiscal YearAnnual Sales
2021 – 2022₹22 Crores
2022 – 2023₹38 Crores Projected

How much money did they raise for Daryaganj?

Till now they’ve invested ₹13 Crores of their own money in the business. Their EBITDA margin in outlet level is 21% & corporate level is 13%.

The sharks were really impressed with the food and the team. Aman Gupta is a huge butter chicken fan. He’s a regular customer of Daryaganj.

How much money did they ask for Daryaganj?

They came to Shark Tank India seeking ₹90 Lakhs for 0.5% equity in the company. Which gives the company a valuation of ₹180 Crores.

Price of Daryaganj food items

Food ItemPrice
Butter chicken₹550
Dal Makhani₹385

Unit Economics of Daryaganj

Food Cost27%
Real Estate17%
Overhead & Commission15%

Which shark gave Daryaganj an offer?

Vineeta Singh gave the 1st offer. She offered them ₹90 Lakhs for 1%.

Peyush Bansal was out because he thought he couldn’t add any value to the business. There’s nothing to play with on the tech side. The entire business relies on food and food only.

Namita Thapar was out because she didn’t find any differentiator in the food. She didn’t have any expertise in this field as well. And she thought this was a very cluttered market.

Offer 1Offer 2Offer 3
Vineeta Singh – ₹90 Lakhs for 1%Anupam Mittal – ₹10 Crores for 20% at ₹50 Crores valuation & ₹90 Lakhs for 0.5% at ₹180 Crores valuationAman Gupta – ₹50 Lakhs for 1% & ₹40 Lakhs debt at 12% interest

Anupam Mittal offered them ₹10 Crores for 20% at ₹50 Crores valuation & also ₹90 Lakhs for 0.5% at ₹180 Crores valuation.

Aman Gupta offered them ₹50 Lakhs for 1% & ₹40 Lakhs debt at 12% interest. Which gives the company a valuation of ₹50 Crores. But this offer comes with a condition. The condition is, Aman Gupta has to be included in the secondary offload.

Company NameDaryaganj
FounderRaghav Jaggi & Amit Bagga
Asked Amount₹90 Lakhs for 0.5%.
Final Deal₹90 Lakhs for 1%
SharkAman Gupta
Company Net Worth₹90 Crores
Company Websitedaryaganj.com
Company StatusIn Business

What deal did Daryaganj get in Shark Tank India?

The deal was closed at ₹90 Lakhs for 1%. Which gives the company a valuation of ₹90 Crores.

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