~The company records a revenue of INR 75 crore from April to June 2023~
Growpital announces achieving a significant milestone by securing a total revenue of INR 75 crores within the first quarter of this calendar year i.e April to June 2023. Owing to the success, the company has added another feather to its cap and they have expanded to over 3000 acres of land across 11 states. One of these includes a coffee plantation in Chikmagalur, one of the most beautiful hill stations in Karnataka, 200 Km away from Bangalore, capitalizing on Karnataka's favourable topography and climate for coffee cultivation. This expansion comes as a part of Growpital's strategic growth plan and its commitment to diversifying its portfolio while creating platforms to empower farmers.
Since the state of Karnataka is known for its ideal environment that allows coffee plants to thrive and produce the finest crops, therefore Growpital wants to make the most of this market. The state contributes approximately 70% of India's total coffee harvest, encompassing both Arabica and Robusta varieties. Moreover, these coffee-producing regions also offer a plethora of engaging experiences suitable for all age groups, making them attractive destinations for coffee enthusiasts and nature lovers alike. The natural blessings of the four South Indian states, including the perfect climate and fertile soil, have nurtured the growth of world-renowned coffee beans.
"We are excited about our expansion into coffee production in Karnataka," said Mr. Rituraj Sharma, founder of Growpital. "This move aligns with our vision to offer a diverse range of agricultural products while delivering on our commitment to sustainability and quality. We look forward to contributing to the rich coffee heritage of Karnataka and providing our customers with exceptional coffee experiences."
By investing in the coffee plant, Growpital aims to enhance the livelihoods of local farmers, offering them a reliable source of income and opportunities for skill development. Growpital's commitment to empowering farmers and promoting sustainable agriculture underscores its dedication to driving positive change in the agricultural sector. The company's expertise in sustainable farming practices, combined with its commitment to innovation and ethical sourcing, will ensure that the coffee plant operates in harmony with the environment and contributes positively to the local economy.
Growpital's takeover of the coffee plantation in Karnataka denotes a significant breakthrough in their journey to establish themselves as prominent player in the agricultural industry. With a focus on quality, sustainability, and innovation, Growpital is set to make a significant impact in the coffee sector and cater to the increasing demand for premium coffee products.
Giving retail investors access to high-return prospects, Growpital was founded to democratize farm investments fundamentally. Operationally active since 2016 but formally founded in 2020 by visionary Agripreneur Mr. Rituraj Sharma and Mr. Krishnna Joshi, Growpital has been assiduously working towards reviving the agriculture sector – one investment at a time. Solving the problem of high risk and low returns of retail investors, the platform offers investment opportunities in commercial agriculture projects that produce the maximum potential returns while minimizing risks through strategic diversification of crop plantations and the practice of varied farming methods.
The company allows investors to actively influence the agricultural sector – thus solidifying their mission of connecting ‘Bharat to India’ - and earn modest returns. Growpital invests its funds and resources in a variety of agricultural projects, giving them the tools and support they need to manage risks and accomplish operational objectives. The company provides various investment options for investors, such as Baby farming, Planty returns, Harvest Premium and Banyan Tree. Growpital also ensures that the funds from the investment options mentioned on the platform are allocated to agricultural projects that a fitting group of agriculture professionals and knowledgeable farmers oversee.