For our latest weekly series, we delve into the captivating world of India’s most influential and enduring business dynasties. From their humble beginnings to their rise to prominence and everything in between, we uncover the rich tapestry of tales about business dynasties that have played key role in shaping the nation’s economic landscape.

From your local, nondescript daily-need stores to the expansive, high-end supermarket chains, there’s no refuting how Haldiram’s enjoys a ubiquitous presence. The name itself is synonymous with desi snacks. In the wake of the liberalisation of 1991, when many Indian companies succumbed to the cut-throat competition from international brands, Haldiram’s stood tall, not only resisting the eventual subsumption but also dwarfing behemoths like PepsiCo in annual revenues. How did they do that? As cliche as it might sound, they clung to their tradition but also embraced innovation and modernity to keep pace with the march of time. The story of Haldiram’s success is the story of evolution. They understood very early the importance of diversification in a crowded market like this. 

The Modest Beginning

It all started in the hot and sultry town of Bikaner, renowned for forts and duststorms and riding camels, where hardscrabble existence forced young Ganga Bhishen Agarwal, fondly known as Haldiram, to join his father’s shop that sold bhujia in a bustling bazaar. 

While the bhujia owes its origin to this city, it wasn’t Haldiram or his forefathers who invented this addictive, crispy snack. As Pavitra Kumar mentions in her book chronicling the rise of Haldiram’s empire, “Around 1885, during the reign of the benevolent Maharaja Dungar Singh, the first batch of bhujia was made in Bikaner.” 

However, when Bhishen Agarwal joined his family vocation, he brought a subtle deviation to the traditional recipe that he acquired from the culinary wisdom of his aunt, Bikhi Bua. On her occasional visit to her paternal place, Bikhi Bua would always bring bhujia which was different from the offerings in the market. 

Instead of adding chickpea flour, Bhishen Agarwal would add moth (lentil flour), a staple diet in Rajasthan, to suit the local palate. The result was a crispier and crunchier bhujia that would be sold at a higher price than the regular bhujia. Even at a ripe age, Bhishen Agarwal was a marketing genius. He would name his new offering, ‘Dungar Sev’, after the famous king of Bikaner.

“The new bhujia was an instant winner. Haldiram got his first sweet taste of success as the sales grew to more than anything the family had ever seen! Customers would come to the shop and ask especially for ‘Haldiram’s bhujia’, and buy not only more often, but in greater quantities too!” writes Pavitra in ‘Bhujia Barons’.

The Rise Of Haldiram’s Empire

Buoyed by the unprecedented success, Bhishen Agarwal, accompanied by his sons, Moolchand and Rameshwar Lal, established their first shop outside Bikaner, in Kolkata. It turned out to be a huge success, but they didn’t allow the sudden influx of wealth to blur their vision, and make rash decisions. Only two decades after establishing themselves in Kolkata, they considered venturing further, to Nagpur and Delhi. 

It was Shiv Kishan, the eldest grandson of Bhishen Agarwal, who took reign of the Nagpur branch, today known as Haldiram’s Nagpur. Manohar Agarwal and Madhusudan Agarwal decided to capitalise on the north Indian market, setting up their base in New Delhi and also creating the brand Haldiram’s. The Bikaner business was inherited by Shiv Ratan Agarwal, who named it Bikaji, in honour of Bika Rao, the founder of the city.

The Kolkata business, owned by Prabhu Shankar Agarwal, now operates under the name of “Prabhuji: From the House of Haldiram’s”. Their revenue pales in comparison to other units of Haldiram’s but they are the most controversial. In 2005, Prabhu Agarwal was detained for allegedly attempting to murder a tea vendor for not giving up his space for the mall.

Legal Dispute

As the adage goes, never do business with people you love, or you’ll end up losing them. And if the business is as large as Haldiram’s, the disputes are going to be larger. While it was initially agreed that none of the scions would enter each other’s territory, the agreement, unlike the taste of Haldiram’s, failed to stand the test of time. 

When Prabhu Shankar Agarwal threatened to open a restaurant under the name of Haldiram’s Bhujiawala, Moolchand’s sons, Manohar Agarwal and Madhusudan Agarwal, filed a lawsuit against them. In 2013, the court ruled in favour of Haldiram’s, New Delhi, after which Prabhu Shankar Agarwal was forced to rebrand his company to “Prabhuji: From the House of Haldiram’s”.