Nagpur couple cultivates saffron in indoor facility; generates ₹40-50 lakh in annual revenue | Details
Saffron is traditionally associated with the cold climate of Kashmir, but a couple from Maharashtra is proving it can be grown elsewhere. Akshay Holey and Divya Lohakare Holey have turned a 400-square-foot room in Nagpur into an indoor saffron-growing facility, using aeroponics instead of conventional soil-based cultivation.
By growing the high-value spice in a carefully controlled environment using nutrient-rich mist, the couple has taken an unconventional route into agriculture. The venture has also proved commercially successful, reportedly generating annual revenue of ₹40 lakh to ₹50 lakh in recent years.
According to a Times of India report, Akshay Holey, a BBA graduate, and Divya Holey, a banker, began experimenting with saffron cultivation in 2020. They installed an 80-square-foot vertical aeroponic unit on their terrace in the Lok Sewa Nagar area of Nagpur. Before embarking on the venture, the couple reportedly spent three and a half months in Kashmir over a period of two years, learning the nuances of traditional saffron farming.
Over the next five years, they invested in technology, learnt from traditional saffron growers and gradually expanded their production. Explaining their decision to enter the field, Akshay told TOI, "We decided to cultivate saffron as it's expensive; its demand is high while production in the country remains low."
He said they initially purchased 100 saffron corms, each weighing approximately a kilogram, and produced a few grams. Encouraged by the results, the couple expanded their operation and invested in 350 kg of corms. Akshay said, "We managed to produce around 1,600 grams, and since then, we've grown to 480 sqm units across two locations, including a 400 sqft setup at our flat in Hingna."
TOI reported that the couple's initial investment was around ₹55 lakh. Over five years, the venture reportedly generated nearly ₹1.3 crore in earnings, with a significant share coming in the last two years. Their combined production, including output from partner units, reportedly reached 45 kg last year. Between 2023 and 2025, the couple consistently generated annual revenues of ₹40 lakh to ₹50 lakh.
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Growing saffron outside its traditional regions can be challenging because the crop requires specific weather conditions. To overcome this limitation, the Holey couple told TOI that they adopted aeroponics, a soil-free cultivation technique in which plant roots are suspended and supplied with water and nutrients through a fine mist.
The indoor setup replicates the environmental conditions required for saffron cultivation, allowing the couple to grow the spice in Nagpur despite the region's high temperatures. Their cultivation process follows a seasonal cycle. The saffron harvest runs from August to December, while the remaining months are dedicated to growing and maintaining the corms for subsequent harvests.
The saffron produced by the couple is reportedly sold for around ₹630 per gram after being graded by the Saffron Institute of Kashmir. At this rate, a kilogram of the spice would cost approximately ₹6.3 lakh.
Akshay outlined the investment required to start a small-scale saffron cultivation unit. He estimates that a 100-square-foot facility can be set up for about ₹10 lakh and produce saffron worth nearly ₹5 lakh annually. According to him, the venture can offer profit margins of around 80%.
The couple says technology has helped keep the unit's running costs under control. Solar energy helps lower electricity bills, while their soil-free cultivation method eliminates the need for fertilisers. Since they handle much of the work themselves, they also save on labour costs. Akshay further estimates that the equipment installed at the facility has a lifespan of 20 to 25 years, making it a long-term investment.
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