Realtor Uppal Group enters liquor business, aims Rs 70cr annual revenue in 3yrs

New Delhi, Sep 24 (PTI) Real estate developer Uppal Group has entered into a liquor business with an investment of over Rs 100 crore, and the company is targeting to achieve Rs 70 crore annual revenue in the next three years.

The Uppal Group, which has developed luxury residences and SEZs, has ventured into the liquor business. It has set up alcobev arm Uppal Brewers & Distillers Pvt Ltd (UBD), and has already launched two whiskey brands- Soorahi and Madhvan.

Both labels are currently available in Delhi and Punjab.

"Backed by an investment of over Rs 100 crore, funded entirely through internal accruals, UBD has set its sights on a three-year sales target of 1,00,000 cases annually in the super premium whisky segment, alongside a topline of Rs 65–70 crore," Uppal Group said.

The company also plans to set up its own bottling unit in Uttarakhand or Madhya Pradesh by 2025-26 fiscal, and a malt distillery is part of its longer-term roadmap.

"With the new AlcoBev business, we are looking at curating a portfolio of premium-only brands for catering to India’s fast-growing alco-bev market," said Kanhav Uppal, Head of Operations, The Uppal Group, and Co-Owner, UBD.

"We currently have a contractual tie-up in Punjab and have a plan to set up our own manufacturing. But till we are able to reach that milestone, we are eyeing exclusive leased-line operations," said Ankur Sachdeva, Co-Founder & CEO, UBD.

UBD plans to launch at least two more labels in the coming years in the super-premium and luxury segments.

Expansion into Haryana started in September, with plans to add one new state every quarter starting October, taking the total market count to 8-10 states by FY27.

In the real estate business, Uppal Group has acquired around 100 acres of land in the Tehri and Rishikesh districts, where it will develop both 100-plus branded residences and a 60-key resort hotel. PTI MJH MJH DR DR