Being on the board of the Singapore-based Ecosystem Advisory is not Vishal Jindal’s first venture, as he has previously founded other companies.
In 2015, Vishal Jindal co-founded Biryani By Kilo, which has become one of India’s top-selling food brands with soaring annual revenue. However, he is not content with the brand’s recent success and aims to achieve a turnover of Rs 1000 crore in the next two to three years. This is the story of an IITian who decided to venture into the biryani business and succeeded beyond expectations.
Jindal’s role in the business venture includes overseeing strategy and marketing. As a foodie himself, he brings a valuable perspective. Although he has been involved in other businesses, the biryani business is his passion. The main idea behind the business was to revive the Khansama tradition of India, where each order is prepared individually and packed in a clay pot, sealed with baked flour.
Vishal Jindal has a history of founding successful companies. Prior to his involvement with Biryani By Kilo, Jindal founded a private equity fund based in Gurgaon named Carpediem Capital Partners. Additionally, he served as the founder and MD of Fidelity Ventures and CEO of Akshayam Capital. Jindal’s success in his previous ventures demonstrates his expertise in business and finance.
In addition to his current board position at Ecosystem Advisory, Vishal Jindal has an impressive entrepreneurial history. He founded Carpediem Capital Partners, a Gurgaon-based private equity fund, and served as founder and MD of Fidelity Ventures as well as CEO of Akshayam Capital. He also has experience as the director of Bhartiya Electronics Pvt Ltd, which he founded and grew into a multi-million dollar company with offices in all major cities and 100 employees. Prior to his entrepreneurial ventures, Jindal worked as a marketing associate for Amano Cincinnati Inc in the United States in 1994.
He obtained his engineering degree from IIT, followed by an MBA from Syracuse University in New York. He also pursued finance at the London School of Economics.
The company’s revenue target for the financial year 2023 is Rs 300 crore, despite the current losses. However, the founder expects to achieve a break-even point in June 2023. The company receives more than 10,000 orders per day, with an average ticket size of Rs 700-750. It has a presence in over 45 Indian cities, including all major metros, with a network of more than 100 outlets.
The company earned a revenue of Rs 135 crore in FY 2022, up from Rs 65.6 crore in FY 21. Their target is to achieve a turnover of Rs 1000 crore within the next 2-3 years.
Moreover, in the financial year 2023, the company plans to increase its marketing spend. In an interview with TOI, Jindal expressed his ambition to build a business larger than McDonald’s and Starbucks.
