How these 21-year-old twins are profitable purchasers like Apollo, IGL, state govts with their consultancy enterprise
Twins Yuvraj and Yashraj bhardwaj When they were only 14 years old, they developed a keen interest in scientific research, technological innovation, and business consulting.
They loved reading research journals, developing research ideas, and learning about innovation.
Yuvraj (21) tells SMBStory:
“When we were still at school, we started research projects such as pumpkin cleaners and Bajra cleaners. The Bajra purifier, which used coarse grain to purify water, has been recognized by the Ganga River Conservation Agency, the governments of Malaysia, Austria, Israel, the SF Fellowship, etc. “
In 2017, at the age of 17, the two patented their research and used funds from grants, scholarships, and awards to get started Petonic Infotech, a consulting company.
“In the consulting industry, consulting is a great service offered by most companies, but it often lacks execution value. Such advice does not always help customers. We wanted to close this gap by using our knowledge and passion for scientific research and technological innovation, ”says Yashraj.
According to the duo, consulting is usually affordable for larger businesses, which is why the brothers decided to expand similar services to small businesses as well.
Petonic Infotech began advising companies of all sizes in sectors such as technology, finance, agriculture, manufacturing, F&B, healthcare, and government.
Some of its larger clients include Apollo Hospitals, Indraprastha Gas (IGL), the Uttarakhand Government, and the Himachal Pradesh Government.
“We work intensively on project management consulting, transformation consulting, M&A services, academic research, strategic studies, fraud analysis, data analysis, IT and more,” says Yuvraj.
Petonic strives to work with a collaborative approach and focus on innovation and creative solutions that meet the specific needs of these customers.
Though the brothers do not disclose the company’s earnings, they say they have managed and worked on client assets / projects worth $ 860 million to date, adding that their results-oriented business model has been a success factor. The medium-sized company with 120 members also works according to a model with fixed fees.
The founders of Petonic Infotech, Yuvraj Bhardwaj (left) and Yashraj Bhardwaj (right)
The brothers viewed starting Petonic as a way to gain financial freedom.
“We come from a humble background and our parents thought like typical middle-class parents. They always did what they thought was best for us, ”says Yashraj.
While they might not be interested in video games or movies, the two shared a love of cricket. When they were eleven, their parents wanted them to stop exercising so they could focus on their studies and eventually find a stable job.
“When we had to stop playing cricket, we felt a pinch,” he adds.
The duo felt that if they had more money they could have kept playing cricket. This became a motivating factor in their decision to start their own business.
In the early days, the brothers had to get customers to believe in their potential. They let their results speak for themselves, which helped them establish a proven track record of successful projects.
Effects of COVID-19 and future plans
In 2020, the global management consulting industry declined by about 15 percent and is expected to withdraw in 2021 $ 241 billion to $ 204 billionreports Beroe Inc.
However, Petonic Infotech has not seen a decline over the past year, the brothers claim.
“Indeed, the COVID-19 pandemic has accelerated our growth and opened doors for our customers to solve challenging problems. Our workload has increased, the challenges are exciting and we are expanding our team to 200 this year, ”says Yashraj.
The company’s business and operating model puts it in competition with the four major consulting and accounting firms in terms of projects.
A recent example of this is when Petonic hired the top companies to get a mandate from Integrated Living Support Project (ILSP) Promotion of the ‘Hilans’ brand, a farmer-friendly initiative by the government of Uttarakhand.
It is now planned to build a global brand for consulting services from India.
“We try to solve problems and not push customers into raising piles of money without delivering results. Our results-oriented business model will continue to be our success factor. Our current project pipeline shows that we can increase our sales four times this year, ”says Yuvraj.
Edited by Saheli Sen Gupta