Parag Milk Foods has announced a ₹400 crore investment over the next 3–4 years to accelerate its next phase of growth, with a strong emphasis on scaling up its high-potential, new-age brands—Avvatar and Pride of Cows. The company aims to increase the contribution of these brands from the current 4.7% to 20% of its total business.
“We are strategically investing ₹400 crore through internal accruals to expand both horizontally and vertically. This includes doubling our cheese production capacity and significantly strengthening our new-age portfolio,” said Akshali Shah, Parag Milk Foods Executive Director.
Capacity Expansion to Fuel Growth
Parag Milk Foods is currently operating its cheese production facility at full capacity—60 metric tons per day—and plans to double it to 120 metric tons. This expansion is expected to significantly boost Avvatar’s business, which the company expects to double within the next three years.
“New-age businesses will be the growth engine for Parag Milk Foods going forward,” Shah added, highlighting the strategic shift toward premium, functional, and wellness-oriented dairy offerings.
Avvatar: Riding the Whey Protein Wave
Since its launch in 2017, Avvatar, India’s only vegetarian whey protein brand, has seen sixfold growth in just three years. The company has already invested ₹200–₹250 crore from IPO proceeds to set up its whey filtration plant and launched new flavors like mango whey protein.
Looking ahead, the brand is set to diversify into 2–3 new segments, including protein snacks, protein chips, and expanded flavors in protein bars and shakes. Distribution will also expand, with entry into e-commerce platforms, medical stores, and modern trade channels.
“We will now focus our investments on marketing and distribution to deepen Avvatar’s reach,” Shah stated. The brand currently retails through specialized sports nutrition stores and aims to broaden its presence through omnichannel retail strategies.
Pride of Cows: Building a Sustainable and Scalable Future
On the premium dairy side, Pride of Cows—the company’s farm-to-home brand—has grown from a herd of 1,000 cows in 2005 to over 5,000 today. The brand is associated with over 5 lakh farmers across Maharashtra and southern India.
To meet increasing demand, the company has invested ₹70–₹80 crore to expand Bhagyalaxmi Dairy Farm. The new greenfield facility at Bota near Nashik spans 500 acres and will eventually house 20,000 cows, aiming for a peak daily production capacity of 2.5 lakh litres by 2027.
This self-contained facility will feature biogas units, renewable energy systems, and a 10-crore-litre rainwater harvesting reservoir, aligning with the brand’s commitment to sustainability.
“Pride of Cows has evolved beyond just milk. We are now a lifestyle brand targeting the wellness-driven consumer,” Shah noted. The brand has diversified into high-protein milk, ghee, paneer, curd, Greek yogurt, and low-fat dairy variants.
Targeting the Breakfast Table
The company is keen to position Pride of Cows as a breakfast category leader, aiming to introduce new offerings in the value-added dairy segment. Upcoming products include high-protein yogurt and paneer, Greek yogurt, and natural cheeses.
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The brand, currently present in 8 cities, has ambitious plans to scale up to 40 Indian cities over the next 3–4 years. Distribution will be ramped up through modern trade, quick commerce platforms, and other key retail formats.
“Pride of Cows, currently a ₹80–90 crore brand, is projected to triple its business in the next three years as we expand our presence, launch new products, and enter high-potential retail spaces,” Shah said.
Holistic Brand Push Across Portfolio
The ₹400 crore infusion will also support product innovation and launch activities across the company’s other established brands, including Gowardhan and Go. These brands will continue to play a role in the company’s overall value-added dairy and ready-to-eat strategies.
With a clear focus on premiumisation, innovation, and sustainability, Parag Milk Foods is positioning itself to capture the evolving preferences of urban and health-conscious Indian consumers.
The company’s strategic emphasis on functional dairy, clean labels, and future-ready infrastructure places it on a strong growth trajectory as it transforms from a traditional dairy player to a modern, wellness-focused food enterprise.
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