• Home
  • Internation Expansion
  • Meet Indian Entrepreneurs Eyeing Big International Expansion and Other SMB Shutdown Stories of the Week

Meet Indian Entrepreneurs Eyeing Big International Expansion and Other SMB Shutdown Stories of the Week

By on March 27, 2022 0

Expanding is part of scaling a business, but taking it beyond your country’s borders takes a lot of effort and perseverance. This week, SMBStory spoke to a few entrepreneurs considering global expansion.

Dhaval Ajmera – Ajmera Realty

What’s behind the enduring legacy of family businesses? Along with family values ​​and trust, there’s also the not-so-small matter of understanding each generation’s unique point of view.

In a single conversation with SMBStoryDhaval Ajmera, second generation entrepreneur and director of the Ajmera Group of Companies, explains how a small family business became a name to be reckoned with in the real estate industry, and provides insight into its five-decade-old history, and how it has spread its wings to the UK and Bahrain.

Dhaval tells the story of how his uncle, Chhotalal S Ajmera (also known as Chhotubhai), started as an ordinary boy who came to Mumbai from Vasavada, a small village in Gujarat, to create one of India’s most renowned property companies, the NSE-listed Ajmera Group.

Chhotubhai wanted to create affordable homes for the middle class and started by constructing a township comprising 600 buildings, with 16,000 apartments in Mira Road, Mumbai, which Dhaval says is “Asia’s first such township”.

“His approach to housing didn’t stop at building apartment buildings, but extended to creating a livable environment and community with all the necessary amenities,” says Dhaval.

Dhaval claims that Ajmera Group of Companies has so far delivered 45,000 apartments covering 30 million square feet of space in India. In FY21, Ajmera Realty and Infra recorded sales of Rs 617 crore, while the group recorded sales of Rs 900 crore (which includes Rs 617 crore of Ajmera Realty and Infra) in the property sector .

Over the next 15 months, Ajmera Realty and Infra will have a pipeline of seven new launches spread over 3.2 million square feet to launch in Wadala, Ghatkopar, Juhu, Pune and Central Mumbai in Maharashtra, with a value of sale estimated at around Rs 4,400 crores.

Ajmera’s reach has also extended overseas and the company has set up small residential projects in London.

Read the full story here

Rout Biraja Prasad – Biggies Burger

Fast food chains such as McDonald’s, Burger King, Taco Bell, Dominos, Dunkin Donuts, etc. – dominate the Quick Service Restaurant (QSR) segment in India. However, none of these companies are headquartered in India.

While the international giants have established themselves, their Indian counterparts such as Bengaluru-based Biggies Burger are ambitious and aspire to reach the size of these companies.

Founded by Biraja Prasad Rout in 2011 as a weekend hobby, Biggies started with a small kiosk in the electronic city of Bengaluru, near the Infosys office.

Biraja says he was interested in the fast food chain trend when he worked at HCL Limited. The lack of local brands forced him to push this opportunity further.

Today, Biggies Burger has 71 outlets (47 operational and 24 under development) in 25 cities, excluding North India. The founder points out that Biggies Burger operates as a franchise model, without a company-owned outlet in Bengaluru.

This year, Biggies has big plans for national and international expansion. Along with a foray into Singapore, the brand plans to open 306 outlets by 2024, with the current rate of five franchises per month.

Read the full story here

Other favorites of the week:

Winny Patro – Recordent

Micro, small and medium enterprises (MSMEs) form the backbone of India’s economy. However, access to credit and credit financing are among the major challenges facing this sector.

According to rough estimates, 27-29% of small and medium-sized enterprises (SMEs) operate without any access to formal credit, resulting in a credit demand cycle. SMEs, being traditional in nature, struggle to cope with these challenges.

Enter Recorden, which helps small and medium businesses manage and monitor their credit risk using data. The Hyderabad-based company was incorporated in 2018 but only started operations in 2021 amid the pandemic.

It offers four main products – cRediDue, cRediEye, Legal and E-arbitration. From helping MSMEs generate invoice reconciliation notifications and creating customer credit history to sending legal opinions, Recordent India offers a host of services. It claims to have generated over 71,000 invoices, helped recover over Rs 2,460 crore in payment fees collected from SMEs on the platform and Rs 2.5 crore in business credit reports till date.

Read the full story here

Edited by Teja Lele Desai