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Results · Agriculture & Food Systems

Growpital reports ₹55 crore FY23 revenue

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Growpital logo
Date
Company
Growpital
What it does
Farmland investment platform
Kind
Results
Founded
2020
Sector
Agriculture & Food Systems

What they do

Growpital let retail investors and NRIs fund commercial farming projects and promised fixed, tax-free profit shares

What happened

It said revenue from operations jumped over 17 times to ₹55.66 crore in FY23 and that it made a profit

Why it matters

It claimed over ₹90 crore raised from 2,000-plus investors, spread across 3,500 acres of farmland

The details

  • Growpital said its FY23 revenue from operations rose to ₹55.66 crore from ₹3.24 crore.
  • That is a jump of more than 17 times in a year.
  • The company said it was profitable.
  • Farming costs made up about 94% of its spending.
  • The figures were shared by the company, not from filed accounts.

The bigger picture

  • It promised investors 10% to 15% tax-free profit sharing.
  • Returns were framed as agricultural income, which is tax-exempt in India.
  • Money had a 12-month lock-in, with deductions for early exit.

About the business

  • Growpital pooled investor money as working capital for farm projects.
  • It earned revenue by selling crops.
  • It was founded in 2020 by Rituraj Sharma and Krishnna Joshi.

Founders

  • Rituraj Sharma, Co-founder
  • Krishnna Joshi, Co-founder

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