Dr. Suhas B. Shetty, founder of Iceberg Organic Ice Creams
Iceberg Organic Ice Creams, which calls itself India’s first organic ice cream brand, is targeting ₹100 crore in revenue in the current financial year (FY27), up from ₹26 crore in FY26, its founder Dr. Suhas B. Shetty said. The company is targeting a further increase in revenue to ₹250 crore in FY28 as it expands its physical outlet network and enters quick commerce.
The Hyderabad-based brand, founded by Shetty in 2013, currently operates 10 company-owned outlets across Nellore, Hyderabad, Bengaluru and Vijayawada. Shetty said the lowest-performing company-owned outlet generates about ₹40 lakh a month, while the top-performing outlet generates ₹1.2-1.3 crore a month. The company also has more than 25 franchise outlets, although franchise sales contribute only about 5 per cent of the company’s revenue, he said.
Shetty said the company plans to enter the quick commerce segment within the next six months, as expanding through physical outlets alone would take significantly longer to establish nationwide availability.
“Physical outlets will take a very huge time. We want to scale ourselves in terms of availability of the product across the country rather than anyone does that before,” Shetty said.
The company currently has no presence on quick commerce platforms or through general retail distribution. Shetty said the company had held off on entering the segment for the past year to year-and-a-half because of the commission structures typically sought by quick commerce platforms.
“If I go as it is today without any brand collaboration… their discussion might start from 40-45 per cent of their commission, which will not help brands like me,” he said.
The company has now signed a deal with a Bollywood celebrity for a brand endorsement, although Shetty declined to disclose the celebrity’s identity. He said the endorsement would help the brand acquire first-time customers as it enters quick commerce.
For FY28, the company is targeting revenue of ₹250 crore. Shetty said the company plans to open more than 10 outlets across multiple Tier-I cities over the next year, while also entering quick commerce. The company is planning signature outlets in Hyderabad, Bengaluru, Mumbai and Delhi, with the Mumbai outlet expected to open within the next few months.
Shetty said the company does not plan to establish dark stores or cloud outlets over the next couple of years and will rely primarily on quick commerce for wider geographic availability. The company may also enter niche-format FMCG retail outlets such as premium supermarkets, he said.
On manufacturing capacity, Iceberg is planning a 10-acre manufacturing facility in Nellore with a capacity of one lakh litres a day. The project, planned for 2027-28, is estimated to cost about ₹100 crore.
Shetty said the company’s existing manufacturing facility has sufficient capacity to support its projected revenue for the next two years, with some additional machinery to be added as required. The new facility is expected to be ready before the existing capacity is fully utilised.
Despite receiving interest from more than 100 investors, Shetty said the company has no plans to raise external capital over the next two years. He also ruled out an IPO in the near term, saying he expects to consider a public listing around 2031-32.
Published on August 28, 2026
