The Mumbai-based company, which retails several dairy products including cheese, ghee, unveiled "Slurp" priced at Rs 20 for a 200ml pack.
"Slurp" is made from alphonso mangoes with milk and will be available in Mumbai, Kanpur and Chennai.
"Two years ago we launched butter milk (here). We are coming again with one of the best fruit juices, Alphonso mango based fruit juice Slurp", company chairman, Devendra Shah told reporters here after unveiling the product.
The company has two manufacturing facilities at Manchar, Pune and Palamaner in Chittoor district, Andhra Pradesh.
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Parag Milk Foods Ltd., Chief Marketing Oficer, Mahesh Israni said the company had "technology" at the Palamaner factory to manufacture the fruit juice drinks. "We are making fresh milk, yoghurt, UHT milk at Palamaner (factory)".
The domestic fruit drink market is valued at Rs 10,219 crore of which juice segment constitutes Rs 7,150 crore.
To a query, he said "Slurp" would be available in Chennai, Kanpur, Mumbai initially and would be expanded "nationally".
Parag Milk Foods already ships some products to countries including UAE, United States, Singapore, Japan and Mauritius among others.