Mumbai, Maharashtra, India | 1st January 2021: Prashant Dwivedi led Mumbai based cleantech startup, Navbharat Water Pvt. Ltd. has announced its objective to cross INR 100 crore business by 2023.
Backed by skilled staff and strong technical support, Navbharat Water offers Avant-grade customised wastewater management and treatment solutions. With state-of-the-art facilities, the firm provides comprehensive services to its clients. From treatment processes to recycling and reuse, it offers complete industrial, commercial, and domestic wastewater management solutions.
Established in January 2020, the firm is successfully offering its solutions to a varied clientele that includes industrial segments, hospitality, healthcare, retail segments, commercial buildings, IT parks, malls, warehouses, and large-scale infrastructure amongst others.
While most of the companies across the spectrum are witnessing a slump in their revenue, Navbharat Water has successfully scaled-up its business significantly.
Prashant Dwivedi, Managing Director of Navbharat Water, said, “We started in January 2020 and despite the lockdown, we managed to get some marquee customers that includes four major players in hospitality and realty sectors and some other customers in food tech. We are gaining projects at a fast pace and the numbers will swell dramatically.”
An IIM Calcutta alumni, Lawyer, and Environmentalist, Prashant Dwivedi founded Navbharat Water intending to protect the most valuable resource on the earth – water. “It is possibly the most important resource for humanity and we need to conserve it.”
“We set up Navbharat Water that’s into the business of water treatment with a view to doing our bit for the environment. We have the technology to set up STPs and ETPs that cover the entire gamut from basic water treatment to ZLD (Zero Liquid Discharge),” he adds.
Now, the company is planning to cross INR 100 crore business mark by FY23-24. “I expect this business to hit 100 Cr. topline by 2023,” says Prashant Dwivedi.
Moreover, on the question of raising capital and building valuation like most of his peers are aggressively doing, he says, “I don’t see the need for it. Business, if done correctly, should be inherently profitable. I run debt-free businesses. I believe it’s better to have a 30cr/100 Cr. bottom-line/top-line than a loss-making 5000 Cr. business. Profitability is the key to any business that we do.”
Investment announcement
An active investor, Prashant Dwivedi, says, “We invest in businesses that have positive unit economics and help them scale up. One of the various companies that I have invested in is a spectacle lens manufacturing company and I have made it profitable in 3 years. We are growing 100% yoy and will continue to do so for quite some time. We started with one lab in 2017 and now have 4 labs in India. I basically identify and focus on making one investment every year and scale it up.”
While announcing his investment plans he said that he invests in the business that “Should be profitable, scalable, and sustainable. The founder plays the most important role, so he/she must be extremely passionate and motivated to scale the business. The founder’s energy coupled with our experience makes it fairly easy to scale up in a sustainable fashion.”
“I am sector agnostic and invest in whatever makes financial sense to me. I personally feel there’s a huge fortune to be made in brick and mortar businesses. There’s more stability and lesser heartburn. You can focus on building the business than be worried about the next round of funding. To be clear, I don’t imply that any model is good or bad, personally, I prefer keeping it simple,” he adds.
“Logistics is close to our heart and is currently primed for technological disruptions. There’s a desperate need to move beyond legacy systems. We are in touch with some startups that are targeting the correct problems that need to be solved. We will add at least one of these companies to our investment portfolio shortly.”
