From Temple Photographer to ₹6,500 Crore: The Intex Story

In the 1980s, a young man from Rajasthan stood outside Delhi's Birla Mandir clicking photos of visitors with a borrowed camera, selling those pictures on key rings for ₹2,000 to survive. Fourteen years later, with just ₹20,000 in savings, he founded Intex Technologies. By 2016, that company posted revenues of ₹6,400 crore. Today, Intex operates across 18,000 pin codes in India, employs thousands, and has become a household name in consumer electronics. This is the story of Narendra Bansal—the man who made technology accessible to every district in India, one affordable product at a time.

The Humble Beginning: A Boy from Rajasthan (1963-1980)

Narendra Bansal was born in 1963 in Hanumangarh, Rajasthan, to late Bhanwarlal Bansal, a grain merchant in Daryaganj, and Munni Devi. The eldest among four brothers and two sisters, Narendra attended primary school in his village before the family moved to Kathmandu, Nepal, where he finished secondary education at Vishwaniketan High School.

In 1980, the family returned to India, settling in a small accommodation at Shakti Nagar Extension in Delhi. Narendra finished his graduation in commerce from Delhi University. Unlike typical students with ambitions of secure government jobs or professional careers, Narendra had an entrepreneurial streak from the very beginning and wanted to establish his own business.

The Early Hustle: From Audio Cassettes to Birla Temple Photos (1980s)

In the 1980s, the music industry was at an inflection point and audio cassettes were gaining popularity with music enthusiasts. Narendra began by selling recorded audio cassettes in high school. After graduation, he moved to picking up and delivering cordless phones. He opened a shop at Naya Bazar in the Chandni Chowk area of Delhi, placed classified ads in newspapers, and assured potential consumers of refunds if they were not happy with the service. The business worked, but was not remunerative enough.

Then came perhaps the most humble phase of his entrepreneurial journey. Narendra clicked pictures of visitors at the Birla Temple in Delhi and sold those pictures on key chains. Using a borrowed camera and an initial investment of just Rs 2,000, he captured images of temple visitors and sold them as souvenirs. Though this lasted a few months, he did not see much potential in this business either.

The IT Opportunity: Floppy Disks and Ethernet Cards (1987-1994)

Narendra's life changed when he sensed a great business opportunity in a new and upcoming field: information technology. With the arrival of floppy disks in 1987, he recognized massive potential. With the same business model of distribution and trading, he expanded the business portfolio from floppy disks to hard drives and RAMs.

Narendra also worked in Delhi's Nehru Place market selling computer floppy disks and other accessories. This made him bumper profit. After this, he decided to expand his business and in 1992 took a small rented shop in Nehru Place and started assembling computers there.

International Impex: The Foundation (September 1994)

In September 1994, he started International Impex with a capital of Rs 20,000 into the business that operated out of a basement in East of Kailash in South Delhi. The company dealt in import of floppy disks, Ethernet cards, and other accessories. The company gradually expanded in assembling, sales, and after-sales services of computers.

This venture gave Narendra crucial experience in sourcing low-cost electronics components, enabling competitive pricing in the nascent Indian PC market during the mid-1990s liberalization era.

The Birth of Intex: A Name Coined on the Spot (1996)

Then, after a series of trials and errors, Narendra finally began selling Ethernet cards under the brand name Intex and thereby incepted Intex Technologies as an IT peripherals company in 1996 with his savings of Rs 20,000. The name was coined on the spur of the moment. It was derived from "Int" of Intel and "ex" of IMPEX (import-export). Little did he know then that it would become a household name 20 years later.

Intex Technologies (India) Ltd. was officially incorporated on January 22, 1996. The company was established in 1996 at New Delhi by Narendra Bansal with a simple yet profound mission: to make technology accessible to every district in India. Armed with determination and a relentless pursuit of excellence, he set out to transform his vision into reality.

The specialty of Intex products was that they came directly from manufacturers and wholesalers in China and Korea. Because of this, they were cheaper than other companies. The company made a profit of Rs 30 lakh in the very first year—an impressive achievement for a startup with minimal capital.

Early Expansion: Building the Portfolio (1997-2005)

In 1997, the company set up its head office in Delhi. Intex Technologies was formed with the vision of leveraging technology to improve the quality of life. Soon after, Intex Technologies diversified its product line by introducing webcams and keyboards to its IT peripherals offerings.

Subsequently, Narendra expanded the product range to include DVD players, home entertainment systems, and speakers. By leveraging direct manufacturer ties in Asia, Intex quickly scaled its operations, achieving annual revenues exceeding Rs 600 crore within a decade through a distribution network spanning over 1,000 retailers across India.

In 2005, Narendra Bansal established the company's manufacturing facility in India—a state-of-the-art fully functioning manufacturing unit was inaugurated in Jammu, India. Intex started domestic manufacturing in 2004 (sources vary between 2004-2005) and currently operates manufacturing facilities based in Jammu, Baddi (Himachal Pradesh), and Noida, manufacturing diverse products.

The Mobile Revolution: Entering Telecom (2007)

As the market dynamics changed swiftly post-2000, Narendra Bansal saw potential in telecom. In 2007, Intex forayed into making mobile handsets. The company introduced feature phones and mobile accessories to the mobile handset industry. As the demand for mobile phones surged, Intex responded by introducing budget-friendly smartphones to the Indian market.

These phones offered advanced features at an affordable price in a low budget, with top features available. This benefited the company tremendously, and the name of Intex went on the tongue of the people. In India, Intex has been recognized for its contribution in democratizing smartphones and bringing the smartphone experience to consumers across price ranges.

Interestingly, Narendra's own children gave up their iPhones for Intex. With good battery life, high affordability, and all the latest features available on Android, why would one shell out ₹40,000-₹60,000 if you can get an equally competent 'Made in India' handset for ₹10,000 or ₹15,000?

Consumer Durables: Beyond IT (2012)

In 2012, from an IT product company, Intex Technologies expanded its consumer durables portfolio with the entry into LED TVs business. The company launched the Consumer Durables vertical with DVD players, LCD TVs, LED & TVs. Intex surprised the market with its quality and pricing—a combination that resonated with value-conscious Indian consumers.

The LED TVs business saw growth of over 150%, and the company achieved a 6% share in LED TVs and 3% share in washing machines nationally. The company gained much traction after introducing smartphones, LED TVs, and washing machines.

The Peak Years: ₹6,400 Crore Milestone (2015-2016)

The company witnessed fairly high growth in the last few years. With a CAGR of 81% over the past 3 financial years, the company reached a turnover of almost INR 6,400 crore ($950 million) in FY 2015-16. Intex reached new heights with its highest revenue achievement of INR 6,400 Crores.

According to IDC Q4 2016 report, Intex was the No. 1 Indian mobile handset player with a 9.8% market share. As of 2016, the company was the second-largest selling mobile phone company after Micromax in mobile manufacturing.

By this time, Narendra Bansal's Intex Technologies was worth more than Rs 6,500 crore, and his personal net worth exceeded Rs 800 crore.

The Next Generation: Keshav Bansal (2012-Present)

In 2012, Narendra's son Keshav Bansal focused on the media branding of the company. Keshav Bansal, 24 years old at the time and a director of Intex Technologies, brought fresh energy and modern marketing approaches to the business.

Narendra Bansal is married to Alpa Bansal since 1990, and they have two children: Ishita Bansal (daughter) and Keshav Bansal (son). Currently, Keshav Bansal, son of Narendra Bansal, is the active director of the company.

Diversification: Gujarat Lions IPL Team (2016-2017)

Narendra Bansal recently diversified into the sports management arena and acquired the Gujarat Lions, an IPL team, which played in 2016 and 2017. Yes, it's the same Keshav Bansal who owns the IPL team, Gujarat Lions. This high-profile investment demonstrated Intex's financial strength and brand ambitions beyond consumer electronics.

Distribution Excellence: Reaching Every Corner

The company's presence has wide geographical spread through its network comprising 30 stock and sales offices and over 1,500+ service touch points. Sales are routed through a distribution network comprising 1,600+ distributors and 80,000+ dealers spread across the country. Intex also has retail presence in the country through its 100+ standalone brand stores called Intex Smart World.

With a presence spanning over 18,000 pin codes, supported by 500+ distributors, 25,000+ dealers, 11 warehouses, and 500+ authorized service partners, Intex products are not only widely available but also backed by best-in-class after-sales support.

Current Status: A Diversified Giant (2023-2025)

As of the financial year ending March 31, 2024, Intex Technologies (India) Limited generated revenue of INR 510 crore, reflecting a 1-year revenue CAGR of 46% and an EBITDA CAGR of 479%. The company's operating revenue range is INR 100 cr - 500 cr for the financial year ending on March 31, 2023.

Founded in 1996, Intex Technologies has grown into one of India's most trusted and diversified consumer electronics brands. What began as a single-product venture is today a company that offers a wide range of product solutions across:

• Consumer Durables: Smart TVs, Air Conditioners, Washing Machines, Refrigerators

• Audio Products: Air Coolers, Party Speakers, Multimedia Speakers, BT Speakers, Trolley Speakers, Tower Speakers, Soundbars

• IT Peripherals and Accessories: Keyboards, Mouse, Speakers, Webcams

• Display Solutions: LED TVs, Monitors

• Small Domestic Appliances (SDA): Mixer Grinders, Fans

• Mobile Accessories

• Security & Surveillance Systems

• Biometrics

• Lifestyle Electronics

Awards and Recognition

This spirit of innovation and consumer-first thinking has earned Intex numerous accolades, including the Mobility Excellence Award, World Brand Summit Award, BBC Knowledge Award, DT Digital Terminal Award, Editors' Choice Award, DMA Asia ECHO Award, and DeviceNext Award, among others. Each honor is recognition of the company's commitment to quality, innovation, and consumer satisfaction.

Intex is an ISO 9001:2015 certified company. Narendra Bansal has been honored with the Udyog Rattan Award and other accolades recognizing his entrepreneurial contributions.

Corporate Social Responsibility: Giving Back

In February 2017, Intex extended its support to Teach For India by sponsoring fellows dedicated to exemplary education for socio-economically disadvantaged children, while also providing professional development opportunities and resources to integrate underprivileged youth into mainstream schooling.

Additional activities include donations of 50,000 stationery kits valued at Rs 5 lakhs to underprivileged children in 2016, distributed through NGOs such as Teach For India, GiveIndia, Bhumi, and Care India. Intex has also collaborated with the Jaya Foundation for similar educational upliftment programs.

Leadership Philosophy: Selling Is an Innate Craft

As a self-made tycoon, Narendra Bansal firmly believes that one does not learn the art of selling at any school; it is rather an innate craft one is born with. His journey from selling audio cassettes to building a ₹6,500 crore enterprise validates this belief.

At the heart of this journey is visionary Chairman & Managing Director Mr. Narendra Bansal, who founded Intex with a vision to improve the quality of life for every Indian. His vision goes beyond products, focusing on creating opportunities for India's youth and delivering service excellence that builds lasting trust.

What Made Intex Succeed

Founder's Perseverance: From Birla Temple photographer to entrepreneur—Narendra's willingness to try multiple ventures until finding the right one demonstrated resilience.

Timing and Market Understanding: Recognizing IT peripherals opportunity in the 1990s, mobile revolution in 2007, and consumer durables growth in 2012 showed market intelligence.

Direct Sourcing: Importing directly from Chinese and Korean manufacturers enabled competitive pricing impossible for competitors sourcing through intermediaries.

Affordability Focus: Democratizing technology by offering quality products at accessible prices captured mass market.

Continuous Diversification: Not limiting to one product category—expanding from IT peripherals to mobiles to LED TVs to appliances—provided revenue stability.

Distribution Excellence: Reaching 18,000 pin codes through 25,000+ dealers ensured nationwide availability.

After-Sales Support: 500+ authorized service partners built trust and loyalty.

Make in India: Establishing manufacturing facilities in Jammu, Baddi, and Noida aligned with national priorities while reducing costs.

Family Involvement: Second-generation leadership through Keshav Bansal brought modern marketing and branding expertise.

Challenges: The Smartphone Decline

The company faced significant challenges when Chinese smartphone brands like Xiaomi, Oppo, and Vivo entered India aggressively. In April 2017, Narendra Bansal made a plea for help in an interview with the Financial Times, arguing for the Indian government to protect Indian mobile brands because "every child needs hand-holding by their parents."

Intex's mobile business, which had been a key growth driver, faced intense competition. However, the diversified portfolio across consumer electronics helped buffer the impact.

The Legacy: 28 Years and Counting

For nearly three decades, Intex has been committed to making world-class technology accessible to every Indian. As the company celebrated its 28th anniversary in February 2024, it reflected on an incredible journey that brought it to where it stands today—as a household name synonymous with quality, affordability, and innovation.

As Intex looks ahead, it continues to stay inspired by its legacy yet driven by the future. With diversity as its strength and innovation as its promise, Intex is building technology that is smarter, simpler, and more personal—technology that improves everyday life and leaves a lasting impact.

Every time an Indian family watches television on an Intex LED TV, cools their home with an Intex air conditioner, listens to music on Intex speakers, or uses an Intex appliance, they're experiencing the culmination of Narendra Bansal's vision—a vision born from clicking temple photos for ₹2,000, nurtured through selling floppy disks in Nehru Place, and realized through 28 years of relentless pursuit of making technology accessible to every district in India.

From Rs 2,000 to Rs 6,500 crore. From Birla Temple to 18,000 pin codes. From one man's dream to millions of homes. That's not just a business story—that's the Intex legacy.