Synopsis
A Nagpur couple, Akshay Holey and Divya Lohakare Holey, has turned a 400-square-foot room into a saffron cultivation unit using aeroponic technology. By growing the expensive spice without soil, they have built a business generating annual revenue of Rs 40-50 lakh. Their saffron sells for around Rs 6.3 lakh per kg. After investing Rs 55 lakh, the couple targets to achieve Rs 1.3 crore earnings over in 5 years.
Growing saffron is usually associated with the cold climate of Kashmir, but a couple in Maharashtra has found a way to cultivate the expensive spice in Nagpur. Akshay Holey and Divya Lohakare Holey have turned a 400-square-foot room into a saffron-growing facility, using technology instead of traditional farming methods. Their venture is built around aeroponics, a technique that allows plants to grow without soil. The couple uses controlled conditions and nutrient-rich mist to cultivate saffron, demonstrating how technology can create opportunities beyond conventional agriculture. The business has also delivered encouraging financial results. According to Akshay, their saffron venture has generated annual revenue of around Rs 40 lakh to Rs 50 lakh in the last few years.
How a Nagpur couple started growing saffron
Akshay, a BBA graduate, and his wife Divya, who previously worked in the banking sector, started exploring saffron cultivation in 2020. They identified an opportunity in a market where demand for saffron remains high, while domestic production is relatively limited. However, growing the spice in Nagpur was not going to be easy.
Instead of relying on conventional farming, the couple decided to understand the technology behind indoor saffron cultivation. They travelled to Kashmir and spent around three and a half months over two years learning from experienced saffron growers. Their initial experiment involved just 100 saffron corms, weighing approximately 1 kg. The first harvest produced only a few grams of saffron.
But the couple continued experimenting. They subsequently invested in 350 kg of saffron corms, and their next production cycle yielded approximately 1,600 grams of the spice. That early success encouraged them to expand the operation.
How they grow saffron without soil in Nagpur
Saffron cultivation generally requires specific climatic conditions, making it difficult to grow in regions with extreme temperatures. The Holey couple addressed this challenge through aeroponic farming. In this method, plants grow without being planted in soil, while their roots receive moisture and nutrients through a controlled misting system.
Their indoor facility recreates the conditions required for saffron cultivation. This allows them to grow the spice in Nagpur, despite the city's hot weather. They eventually established a 400-square-foot production unit in Hingna. They also developed another facility measuring 480 square metres to expand their operations.
The couple follows a seasonal production cycle. Saffron harvesting takes place between August and December, while the remaining months are used for growing and maintaining the corms for future harvests.
Rs 40-50 lakh annual revenue and 80% profit margin
The financial potential of their venture has been one of its biggest attractions. Akshay said their business has generated annual revenue of Rs 40 lakh to Rs 50 lakh in recent years. Their saffron, which is graded by the Saffron Institute of Kashmir, is sold at approximately Rs 630 per gram. This translates into a price of around Rs 6.3 lakh per kilogram.
The couple has also shared an estimate of the investment required to establish a small saffron-growing facility. According to Akshay, setting up a 100-square-foot unit requires approximately Rs 10 lakh and can generate saffron worth around Rs 5 lakh annually. He has also claimed that the business can deliver profit margins of approximately 80%.
The couple attributes its relatively low operating expenses to the technology used in the facility. Solar power helps reduce electricity expenses, while the absence of conventional soil-based farming eliminates the need for fertilisers. They also manage much of the work themselves rather than depending on hired labour. Akshay estimates that the machinery used in their setup can function for 20 to 25 years, making it a long-term investment.
From growing saffron to helping others start businesses
As per TOI report, the couple's ambitions have moved beyond their own production facilities. They are now helping aspiring entrepreneurs learn indoor saffron cultivation. Akshay said they have trained around 150 people so far. Of these, 29 have successfully established their own saffron-growing units across Maharashtra.
The couple charges Rs 15,000 for its training programme, which provides guidance to people interested in entering the business. There is another part to their model. They also purchase saffron produced by these partner units and handle its packaging and marketing. This arrangement gives smaller growers an opportunity to focus on cultivation without having to independently manage the entire sales process.
A business built around technology and agriculture
The couple's journey began with a small experiment in 2020. Over the next five years, they invested in technology, learnt from traditional growers and gradually expanded their production. Akshay has said that their initial investment was around Rs 55 lakh. The venture has generated approximately Rs 1.3 crore in earnings over five years, with a significant share of the returns coming in the last two years.
Their combined production, including output from partner units, reportedly reached 45 kg last year.
