Sanjay Ghodawat Group Targets ₹15,000-Cr Revenue by 2030, Plans Multiple IPOs Over Next 2–5 Years

The Sanjay Ghodawat Group is charting an ambitious expansion path, aiming to achieve ₹15,000 crore in revenue by 2030 while preparing to take several of its businesses public within the next two to five years. Managing Director Shrenik Ghodawat outlined the group’s strategy in a recent interaction, highlighting aviation, consumer goods, and education as key growth engines.

The Kolhapur-based conglomerate currently reports a topline of ₹3,500 crore, with its regional airline Star Air contributing around ₹650 crore last year. By 2030, the aviation vertical alone is expected to bring in ₹6,000 crore. To support this growth, the company plans to invest ₹500 crore in its aviation operations over the next two years.

Ghodawat reaffirmed the group’s commitment to its low-cost, regional connectivity model under Star Air. “Our competition is not the top two national carriers, but trains and buses,” he said, adding that the route mix—currently 65% under the UDAN scheme—will gradually shift toward a 70% commercial share as more non-UDAN routes launch.

Beyond aviation, the consumer business is projected to scale from the current ₹1,500 crore to ₹3,000 crore in the next 3–5 years, driven by new launches targeting Gen Z, millennials and Gen Alpha. The education vertical, with revenues close to ₹300 crore, is expected to grow to ₹1,000 crore over the same period.

The group, which also operates in real estate, textiles, retail, FMCG and wind energy, has adopted a “5x5x” growth vision—fivefold expansion over five years—across all its business ecosystems.

Star Air recently secured ₹150 crore of its planned ₹350-crore Series B round from investors including Micro Labs and Deepak Agarwal of Bikaji Foods, with another ₹200 crore targeted next year. The fresh capital will fuel fleet expansion, network growth, NSOP operations and MRO capabilities. More private equity and institutional funding rounds are expected as the airline scales.

Ghodawat confirmed that the group aims to bring its various businesses to the capital markets within 24–60 months. “Eventually, the goal is to take each of these businesses public,” he said, noting that ongoing investments and strategic expansions have positioned the group for its next phase of accelerated growth.