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Uppal Brewers and Distillers, which recently rolled out premium Scotch malt whisky Madhvan, is planning to invest ₹100 crore to scale its premium offerings.
An arm of Delhi-based realtor Uppal Group, the firm is eyeing to tap the demand for whiskies in India.
Ankur Sachdeva, co-founder and CEO, said that the company aimed to achieve sales of 100,000 cases in the premium segment over the next three years.
“There are no limitations on the investment, and we are committed to backing the venture fully. Nearly 53-55 per cent of a case’s shelf price goes towards duties and taxes, which are funded entirely through internal accruals. If we achieve our three-year goal of 100,000 cases annually, we will deploy ₹100 crore or more solely to fund this,” Sachdeva told Business Standard.
Earlier this month, Uppal Brewers launched Madhvan, a premium Scotch malt whisky priced at ₹990 for a 750ml, in less than eight months after rolling out its first label, Soorahi.
Uppal Brewers indicated that ‘Product 3’ and ‘Product 4’ are in the pipeline, likely as new whisky expressions, which will also cater to the premium and luxury segments.
The liquor brand aims to have a bottling plant in either of the two states, Uttarakhand or Madhya Pradesh, by the end of the ongoing financial year 2026 (FY26). Currently, the venture has a contractual tie-up in Punjab.
“We cater to a discerning, quality-conscious consumer base, and our focus is on ensuring that product, pricing and quality remain paramount. As the business expands, our immediate priority is to set up a bottling plant, owned, leased or both, while a distillery is part of our five-year roadmap,” added Sachdeva.
Soorahi and Madhvan are currently available in states including Punjab, Delhi and in an early stage of rollout in Haryana. The company plans to expand into 5–6 additional states, one each quarter, taking its presence to 10 or more states by the end of FY27.
Commenting on domestic and global footprint, Sachdeva said, “There is significant headroom for growth within India. For now, our strategy is to enter one new state each quarter. While we remain open to exploring global opportunities as they arise, our immediate priority is to strengthen our presence in the Indian market before looking overseas.”
India’s alcohol market, valued at ₹5.3 trillion ($62 billion) and projected to grow 8-10 per cent in FY26, continues to be dominated by spirits, which account for nearly 70 per cent of revenues, according to a CRISIL report. Growth is particularly strong in the premium and aspirational segments, fuelled by urban consumers seeking products that combine craft with cultural identity.
