Growing saffron in heat? This Nagpur couple earns Rs 50 lakh doing it

Nagpur's extreme heat didn't stop this couple from growing saffron. Using aeroponic technology, they have recreated Kashmir's cool conditions and now earn Rs 50 lakh annually

Growing saffron in a city known for its scorching heat may seem impossible, but a Nagpur couple has turned this challenge into a thriving business. In a compact 400-square-foot room, Akshay Holey and Divya Lohakare Holey are cultivating the world’s most expensive spice without using soil or water. Their pioneering aeroponic technique has successfully recreated the cool, misty conditions of Kashmir, yielding remarkable results and generating an annual income of Rs 50 lakh.

 

Akshay, a BBA graduate, and Divya, a banker, embarked on their saffron journey in 2020. They saw a lucrative opportunity in the high demand for saffron, which remains underproduced in India.

 

 

“We decided to cultivate saffron as it’s expensive, its demand is high while production in the country remains low,” Akshay told The Times of India.

 

To master the nuances of saffron farming, the couple spent three and a half months in Kashmir over two years, learning directly from experienced cultivators. They started small, with just 100 saffron corms (roughly 1 kg), yielding only a few grams in their first cycle. Instead of being discouraged, they recognized the potential and invested in 350 kg of seeds. This step paid off as their next harvest produced approximately 1,600 grams of saffron.

 

Scaling up a sustainable business 

With growing confidence, they expanded further, establishing a 400-square-foot saffron unit in Hingna and an additional 480-square-meter facility. Over the past two years, their revenue has consistently ranged between Rs 40 and 50 lakh. But their success is not just personal; they are now helping others enter the saffron business.

 

“So far, we’ve trained 150 people, of whom 29 have successfully set up their own units across the state,” Akshay shared. For a fee of Rs 15,000 per participant, they offer training and guidance to aspiring saffron growers. Moreover, they purchase saffron from these growers for packaging and marketing, creating a sustainable ecosystem.

 

Impressive yield and profit margins 

Their innovative approach has yielded impressive results. “Last year, our output, including partner units, reached 45 kg,” Akshay revealed. The investment required to establish a 100-square-foot unit is approximately Rs 10 lakh, which can yield saffron worth Rs 5 lakh annually.

 

“It’s a one-time investment. Seeds are only bought once, and each seed produces three to five flowers, with three saffron strands per flower,” he said. Saffron is harvested between August and December, while the rest of the year is dedicated to seed cultivation.

 

Profitable and sustainable model 

One of the most striking aspects of their business model is its sustainability. The equipment in their aeroponic setup is built to last. “The machinery can run efficiently for 20 to 25 years,” Akshay added.

 

Additionally, their operating costs are minimal. “Our profit margin is around 80 per cent because there are virtually no ongoing expenses,” he said. Their use of solar power eliminates electricity costs, and since no fertilisers or hired labour are needed, they manage the entire process themselves.

 

Transforming lives with technology 

From an initial investment of Rs 55 lakh, the couple has earned Rs 1.3 crore in five years, with the bulk of their profits coming in the last two years. The saffron, graded by the Saffron Institute of Kashmir, is sold at Rs 630 per gram. 

“We merged traditional farming with technology. We are growing saffron using air and mist, without soil or water. And it transformed our lives,” Akshay stated.