SRINAGAR: In a modest 400-square-foot room in their Nagpur flat, Akshay Holey and his wife, Divya Lohakare Holey, are defying conventional farming by growing saffron—one of the world’s most expensive spices—without soil or water. Using an innovative aeroponic technique, the couple has successfully replicated Kashmir’s climate in one of India’s hottest cities, generating an annual revenue of up to Rs 50 lakh, The Times of India reported.
Their journey began in 2020 with a small 80-square-foot experimental unit on their terrace in the Lok Sewa Nagar area. Recognising the high demand and limited domestic production of saffron, they spent over three months in Kashmir learning traditional farming techniques before adapting them to their unconventional setup.
Starting with just 100 saffron corms, the newspaper reported, the couple initially produced only a few grams. Encouraged by their results, they expanded operations, investing in 350 kilograms of seeds. Today, they operate across 480 square metres in two locations, including a 400-square-foot unit at their Hingna flat. Their efforts have paid off, with production reaching 45 kilograms last year, including contributions from their partner units.
Beyond their own success according to the newspaper the couple has trained 150 aspiring growers, 29 of whom have successfully established their own saffron units. For Rs 15,000 per participant, they provide training and help set up units, later buying back the saffron for packaging and marketing.
The economics of their model are compelling. Setting up a 100-square-foot unit costs approximately Rs 10 lakh and yields saffron worth Rs 5 lakh annually. With minimal running costs, including solar-powered operations and no need for fertilisers or labour, their profit margin stands at an impressive 80 per cent.
Since launching their venture, the couple has invested Rs 55 lakh and earned Rs 1.3 crore over five years, with the bulk of their profits coming in the last two years. Their saffron, graded by the Saffron Institute of Kashmir, sells for Rs 630 per gram.
“We merged traditional farming with technology, growing saffron using air and mist, without soil or water. And it transformed our lives,” Akshay told the newspaper.
