A Nagpur couple has defied conventional farming wisdom, transforming a modest 400-square-foot room into a highly profitable saffron business. Akshay Holey and Divya Lohakare Holey utilize advanced aeroponic technology to cultivate saffron indoors, despite Nagpur's naturally hot climate, now earning more than ₹4 lakh per month.
Their pioneering venture has rapidly scaled, achieving an annual revenue between ₹40-50 lakh. The saffron produced by their soil-free method sells for approximately ₹630 per gram, which translates to a remarkable ₹6.3 lakh per kilogram.
From Banking to Saffron Farming
Akshay, a BBA graduate, and Divya, formerly in banking, identified a significant market opportunity in 2020: a consistent demand for saffron in India coupled with limited domestic production. To master the intricacies of saffron cultivation, the couple dedicated over three months across two years, learning directly from experienced growers in Kashmir.
Their initial experiment was small, involving just 1 kg of saffron corms, which yielded only a few grams of the precious spice. Undeterred, they refined their process and later invested in 350 kg of corms, resulting in a yield of 1,600 grams of saffron, a success that encouraged them to expand operations.
Aeroponics: The Key to Indoor Success
Traditionally, saffron is associated with the cold, specific climate of Kashmir. The Holeys successfully recreated these conditions within their indoor facility by meticulously controlling temperature, humidity, and light. Their aeroponic system delivers essential moisture and nutrients directly to plant roots through a fine mist, eliminating the need for soil and conventional fertilizers.
This innovative approach allows cultivation even during Nagpur's extreme summer heat. Furthermore, the couple has integrated solar power to significantly reduce electricity costs, and by managing much of the operation themselves, they keep overall operating expenses low. Saffron is harvested from August to December, with the remaining months dedicated to growing and maintaining corms for the subsequent cycle.
Quality, Profitability, and Expansion
The saffron from their business undergoes grading by the Saffron Institute of Kashmir, assuring its premium quality. Akshay estimates their operation achieves an impressive profit margin of about 80 percent. He suggests that a 100-square-foot unit, requiring an initial investment of around ₹10 lakh, can generate approximately ₹5 lakh in saffron sales annually, with machinery designed to last 20-25 years.
The couple's initial investment of ₹55 lakh has yielded approximately ₹1.3 crore over five years, with a substantial portion of these returns realized in the last two years. Beyond their own production, the Holeys have expanded into training and market linkage. They offer a training program for ₹15,000 and have already educated around 150 individuals, leading to 29 new saffron-growing units across Maharashtra.
They also support smaller producers by purchasing saffron from partner growers, then handling the packaging and marketing, allowing cultivators to focus solely on farming. Last year, the combined output from their facilities and partner units reached an estimated 45 kg of saffron.