Shark Tank India Clash: Anupam Mittal Questions Rs 1,000 Crore Heritage Pitch

A few days after Peyush Bansal set records with a Rs 5 crore investment in the lifestyle brand NOOE, another milestone was achieved on Shark Tank India. The Savani family, representing three generations, pitched their company, Savani Heritage Conservation, which specializes in restoring historical landmarks. With over 300 restoration projects across 20 states, including the iconic Mumbai Royal Opera House and the Cellular Jail in the Andaman and Nicobar Islands, the family showcased their expertise and noble mission.

The Savanis sought Rs 3 crore for 1% equity, valuing their business at Rs 300 crore. They revealed impressive financials, stating a gross revenue of Rs 124 crore last year, with projects worth Rs 850 crore in the pipeline. Most of their revenue, they said, comes from government contracts, with payments arriving within 30 days—a claim that raised eyebrows among the panel of investors.

Anupam Mittal Questions Transparency

While the panel of sharks, including Anupam Mittal, Ritesh Agarwal, Kunal Bahl, Namita Thapar, and Vineeta Singh, were impressed by the numbers, Anupam voiced doubts about the Savanis' claims.

“When you say that you receive all payments within 30 days, I don’t know how to tell you this, but this is not possible. You’re either hiding something or telling half-truths,” Anupam remarked, referencing his experience with government contracts.

Both Kunal and Namita opted out of the deal, citing their lack of expertise in the heritage conservation space. Kunal emphasized his preference for investing in younger entrepreneurs with limited access to mentorship and funding.

Ritesh Agarwal Steps In

Ritesh Agarwal, with plans to expand his hotel business into heritage tourism, showed keen interest in the venture. He proposed Rs 1 crore for 1% equity and Rs 2 crore as debt at 10% interest, explaining how the partnership could benefit both parties.

Before the entrepreneurs could respond, Anupam shared personal insights, commending the family patriarch for building generational wealth but criticizing the business pitch. He expressed dissatisfaction with the nephew’s lack of financial clarity, advising the family to "get their house in order" before attempting to go public.

Deal Finalized Amid Mixed Opinions

Despite Anupam’s skepticism and his withdrawal from the deal, the Savanis negotiated better terms with Ritesh, reducing his equity demand to 0.8%. This marked a historic moment on the show, with the family securing funding for their mission of preserving India’s architectural heritage.

The pitch highlighted the importance of financial transparency, even when presenting a noble cause. While opinions among the sharks were divided, the Savanis’ commitment to their legacy-driven business ultimately won them the deal.