In the latest episode of Shark Tank India Season 4, the spotlight shone brightly on the Savani family, whose company, Savani Heritage Conservation, has been restoring India’s heritage sites for over three generations. Founded by Shantilal J. Savani, a humble mason with a vision to preserve India’s cultural legacy, the Mumbai-based firm has grown into one of the most respected names in the heritage restoration sector.
The Savani family’s ambitious goal is to preserve 1,000 monuments by 2030. So far, they have restored 300 historic homes and landmarks, including the renowned Royal Opera House. Using traditional techniques and sustainable materials, they also manufacture handmade tiles, bricks, and other elements to maintain authenticity in their projects. Anupam Mittal praised their work, especially on the Opera House, noting, “I have visited the place a few times and must say you guys have done a great job on it.”
The Savani family sought Rs 3 crore for 1% equity, valuing their company at Rs 300 crore. Anupam jokingly responded, “Itna bada valuation layer ho, mereko aap apna bhatija bana lo. Chacha bhatija, ek aur bhatija.” Vineeta Singh added humor, saying, “Aapko uske liye pehle restore karna padega. You are a heritage property.”
Ram Savani explained that 85-90% of their projects come from government contracts, with the rest from private clients. Highlighting challenges, he mentioned, “The biggest challenge in India is that people spend on restoration but neglect its maintenance.” Ram also detailed their restoration of Uparkot Fort in Junagadh, Gujarat.
The Savanis revealed a revenue of Rs 124.7 crore, the largest ever reported on Shark Tank India. Anupam expressed skepticism about the receivables cycle, suggesting potential discrepancies or hidden details. Consequently, Kunal Bahl and Namita Thapar exited the deal, citing a lack of expertise in the heritage restoration field.
Ritesh Agarwal offered Rs 1 crore for 1% equity and Rs 2 crore in debt at 10% annual interest for three years, calling it a win-win situation. Vineeta opted out, while Anupam shared a personal connection, seeing a reflection of his father in Shantilal. He advised the Savanis to reconsider their IPO ambitions due to their financials and also backed out.
After negotiations, Ritesh and the Savanis settled on 0.8% equity. The deal, valued at Rs 125 crore, marked the highest valuation in Shark Tank India’s history. Anupam remarked on the unusual numbers, saying, “Ritesh ne kyun kiya yeh toh wohi jaane. Uske haath mein thodi zyada khujli hai humse that is for sure.” Ritesh, however, was thrilled about the historic deal.
Next, Rajesh and Aastha from Jaipur pitched their silver jewelry brand, Shyle, aiming to combine traditional Indian craftsmanship with contemporary design. Their brand, which uses ancient methods like thappa, rava, and chitai, sought Rs 70 lakh for 1% equity. Aastha shared that the brand name, which rhymes with “style,” was chosen for its domain availability, highlighting their savvy in acquiring Shyle.com after four years of negotiation for Rs 1.9 lakh.
Anupam appreciated their smartness, comparing it to his Shaadi.com domain acquisition, which cost significantly more. The couple’s story and their commitment impressed the sharks, leading to an analysis of their unit economics.
After reviewing the business, Namita and Ritesh made a joint offer of Rs 70 lakh for 1.5% equity with a 1% royalty until the principal amount was recovered. Anupam proposed Rs 1.4 crore for 5% equity, asking if they preferred royalty “in Marwadi.” Misunderstandings arose, but eventually, Namita clarified the terms, leading to a deal with her and Ritesh. Rajesh assured the sharks of their integrity, saying, “Ma’am, hum humari zubaan ki khate hai, hum waise log hai hi nahi jaise soch rahe hai.”
This episode showcased the diversity of pitches, the intricacies of negotiations, and the importance of trust and transparency in business dealings, setting a new benchmark in Shark Tank India’s vibrant history.

See insights and ads
Like
Comment
Send
Share