
PC Musthafa, the CEO of packaged food giant iD Fresh Food, thinks that idli and dosa batter would be the most consumed items in the world. In a podcast session for Siddhartha Ahluwalia's 'The Neon Show', Musthafa said there is no other item being consumed at the level of idli and dosa, popular breakfast food in Southern India.
Musthafa, who is now described as 'India's Breakfast King', had a very modest beginning when he, along with his four cousins, set up iD in a small kitchen in Bangalore in 2005. Now, his company, which secured Rs 507 crore funding from NewQuest last year, boasts of a staggering Rs 3,000 crore valuation.
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In 2021, iD unveiled the world's largest batter factory in Anekal - a major town in the suburbs of Bengaluru city - and launched a new factory in north India in 2022. iD sells idli and dosa batter made in the kitchen without any preservatives.
When asked why idli and dosa became so famous, Musthafa said: "Health aspect, and tradition." "Traditional Indian food has a history behind it. There is a reason why idli is popular in the south and chapati is popular in the north. So probably that is the reason, in a market like South, idli is so popular. Interestingly, people in the north also now love idli and dosa."
The entrepreneur then talked about how he launched his products in Delhi. "For the initial 15 years of our operation, we thought Delhi may not do well for us. So we decided to not (open our outlets). Two years ago, during Covid time, we decided to test the product in the Delhi market by airlifting from Mumbai. You can imagine, one kg of batter being airlifted from Mumbai to Delhi. We were positively surprised with the market response, and then we decided to set up a factory in Delhi. Delhi has now become the most successful region for us."
In the same podcast, Musthapa also revealed that his father earned 10 rupees a day when he was eight years old. "Later, when my father was earning Rs 50 every day, I used to earn Rs 10 along with him," he said.
Mustafa, who hails from Chennalode in Kerala's Wayanad district, went to India's premier business school - IIM Bangalore. During his time at the business school, he, in collaboration with his cousins, embarked on a venture to manufacture dosa and idli batter in Bengaluru. Now, iD has expanded its operations not only in other parts of the country but also in the UK, USA, Saudi Arabia, Oman, and Qatar.
Earlier, Mustafa said that a few months back, iD launched the frozen fruit blend in the UAE. "And a lot of you had asked me when we would launch it in India. So we did. Available in major supermarkets across Bangalore, Mumbai, and Hyderabad, it'll soon be on the e-com platforms too."