Hyderabad-based Iceberg Organic Ice Creams is projecting a significant jump in its financial performance, targeting ₹100 crore in revenue for the current financial year (FY27). This marks a substantial increase from its ₹26 crore revenue recorded in FY26. According to founder Dr. Suhas B. Shetty, the company is looking to scale further to ₹250 crore in revenue by FY28 through an expanded physical outlet network and an upcoming entry into the quick commerce segment.
Founded in 2013, the brand currently operates 10 company-owned outlets situated across Nellore, Hyderabad, Bengaluru, and Vijayawada. Performance among these company-owned stores varies, with the lowest-performing outlet generating approximately ₹40 lakh a month and top-performing locations bringing in ₹1.2 to ₹1.3 crore monthly. While the company also maintains more than 25 franchise outlets, franchise sales currently account for only about 5 per cent of total revenue.
To accelerate nationwide availability, Iceberg plans to enter quick commerce platforms within the next six months. Shetty noted that relying exclusively on physical outlets would take considerably more time to establish a national footprint. The brand previously delayed its entry into quick commerce over the past year to 18 months due to high platform commission structures, which typically start around 40 to 45 per cent. To support its upcoming quick commerce push and acquire first-time customers, the company has signed a deal with an unnamed Bollywood celebrity for brand endorsements.
Looking ahead to FY28, the company plans to open more than 10 outlets across multiple Tier-I cities, including signature locations in Hyderabad, Bengaluru, Mumbai, and Delhi. The Mumbai outlet is scheduled to open within the next few months. Iceberg does not currently intend to establish dark stores or cloud outlets over the next couple of years, relying instead on quick commerce and potential entry into niche-format FMCG retail formats such as premium supermarkets.
On the manufacturing front, the company is planning a 10-acre manufacturing facility in Nellore with a capacity of one lakh litres per day. Scheduled for 2027-28, the project is estimated to cost approximately ₹100 crore. Shetty stated that the brand's existing manufacturing facility has sufficient capacity to support projected revenue for the next two years, with minor machinery additions planned before the current capacity is fully utilised.
Despite receiving interest from over 100 investors, Iceberg currently has no plans to raise external capital over the next two years. Shetty also ruled out an initial public offering (IPO) in the near term, indicating that a public listing may be considered around 2031-32.
"Iceberg Organic Ice Creams demonstrates a disciplined approach to growth by focusing on strong unit economics from its existing stores before pursuing rapid nationwide scale. Delaying external capital while building robust manufacturing and distribution strategies allows the company to retain control over its margins and operations. Entering the quick commerce space with prior brand backing is a calculated move, though maintaining healthy unit economics amidst platform commissions will be critical for long-term profitability." — Dr. Shishir Gupta, Founder & CEO, StartupLanes
