Kwality Dairy(India) Limited was incorporated as public limited company on 1992. The company was promoted by P N Ghai. Kwality Restaurant was started by I K Ghai and P L Lamba in 1941. Since icecream was one of the main items served in these restaurants, Ghai/Lamba group opened factory type ice-cream manufacturing units in Delhi and Mumbai around 1955. In 1995 the company started producing Ghee,Skimmed Milk Powder etc. The total cost of the above project was Rs.3600 crores and was financed by way of public issue. The company had set up a new project for manufacturing Ice Cream Mix Powder.