Shark Tank India 4: The Royal Opera House's restoration brand bags a historic deal from Ritesh Agarwal; Anupam Mittal says 'Uske haath mein zyada khujli hai'

Shantilal J. Savani, together with his family members Ram and Jagrut, showcased their family's remarkable heritage, Savani Heritage Conservation, on Shark Tank India. This Mumbai-based company has been renovating India's heritage sites for over three generations. Starting with Shantilal, a simple mason who set the groundwork for this monumental company from scratch, the Savani family has carried on his vision and skill, earning a place among the most revered names in the heritage restoration field.
The pitchers ask from the sharks was Rs 3 cr for 1% equity on the valuation of
Rs 300 crores. Anupam says, 'Itna bada valuation layer ho, mereko aap apna bhatija bana lo. Chacha bhatija, ek aur bhatija.' Vineeta joked, 'Aapko uske liye pehle restore karna padega. You are a heritage property.' The pitchers further explain the kinds of restoration they do for monuments and other aesthetic properties all over India.
Ram shared, that '85 to 90% of the restoration projects come from the government and the rest from private clients. The biggest challenge in India is that people spend on restoration but neglect its maintenance.' Ram then detailed about Gujarat, Junagarh's Uparkot Fort's restoration. The pitchers shared their revenue of Rs 124.7 crores which is the largest revenue on Shark Tank India.
After understanding their business, net profit and receivables cycle. Anupam says, 'I have worked with government companies, and the receivable cycle that you are saying is impossible unless you pay a facilitation and consultation fee. I am not sure what are you hiding but there is something that we are missing out on calculations. Either you aren't sharing the right numbers, or hiding something from us.'
Kunal Bahl and Namita Thapar exited the deal as they didn't see their expertise in it. Ritesh gives an offer of Rs 1 crore for 1% equity and Rs 2 crores in debt for 10% per annum interest for 3 years. Ritesh reveals it's a win-win for them. Vineeta backs out from the deal, while Anupam reveals he was reminded of his father looking at Shantilal. Anupam then advices Ram about understanding his business and how they want to go for IPO but don't have the right numbers. And opt out of the deal.
The pitchers and Ritesh then come over a negotiation and Ritesh makes a counter offer of 0.8% which makes the revenue of Rs 125 crores. Pitchers take the deal. Ritesh reveals, 'This is the highest valuation deal in Shark Tank India's history.' Anupam then reacted, 'I feel the numbers weren't reconciling. Ritesh ne kyun kiya yeh toh wohi jaane. Uske haath mein thodi zyada khujli hai humse that is for sure.' Ritesh shared that he was quite elated about cracking the historic deal.