Ashok, Sriram Chitlur, and Srinath Setty: Cultivating Sustainable Success with Agricultural Asset Management

In the bustling city of Bengaluru, where urban landscapes and commercial endeavours dominate, a trio of individuals is quietly spearheading a movement toward sustainable farming. Ashok, Sriram Chitlur, and Srinath Setty, the core team behind Bengaluru-based start-up Hosachiguru, are not just managing farmland; they are cultivating a vision for a greener, more sustainable future.

Srinath Setty’s journey into sustainable farming is a testament to the profound impact of reconnecting with one’s roots. Initially involved in the lucrative commercial real estate business in Bengaluru, Srinath, along with his cousins, ventured into property development. However, a yearning for something more meaningful led him to explore the world of sustainable farming. Coming from a family of farmers in Karnataka, Srinath understood the challenges of traditional farming, particularly the constraints imposed by limited land availability. Recognizing the need for a scalable and sustainable agricultural model, Srinath, along with his uncle Ashok and Sriram Chitlur, set the stage for what would become Hosachiguru.

Founded in 2008 by Ashok and Sriram, Hosachiguru emerged as a response to the monotony of IT jobs and a desire to contribute to sustainable farming practices. The journey began with a focus on sandalwood cultivation, inspired by Ashok’s fondness for Mysore Sandal soap. The initial experiment with eight acres paved the way for a successful sandalwood farm by 2014.

Srinath joined the venture, and together, they formed Hosachiguru in 2014, leveraging their collective expertise. The company follows a simple yet impactful business model, managing farmland for owners and acquiring land for investors based on water availability and soil conditions. Their approach involves meticulous planning, including soil preparation, drip irrigation systems, and hiring skilled labourers.

Hosachiguru’s portfolio encompasses 19 sustainable projects spread across an impressive 900 acres, nearly double the size of Monaco. The projects are divided between horticulture and timber cultivation, with an emphasis on sustainable practices. The company refrains from promising specific returns on investment; instead, it offers an opportunity for investors to participate in land ownership and tree cultivation. In the horticulture sector, the company achieved profitability within three years by strategically selling fruits to online retailers and exporters. The timber business, with a longer gestation period, showcases a nine-year-old teak plantation spread over 35 acres, boasting a valuation of ₹35 crore for the trees.

Hosachiguru has embraced innovation to enhance farm efficiency and reduce costs. With an emphasis on water conservation and soil health, the company has implemented weather stations and soil moisture sensors across all projects. By optimizing water usage and improving organic matter in the soil, they’ve managed to reduce costs by at least 30 percent. The company’s commitment to transparency is evident in its online tools that allow owners and investors to monitor farm-related information. CCTV surveillance ensures security, and details such as tree locations, fertilizers used, and workforce statistics are readily available. Additionally, Hosachiguru provides recreational spaces on farmlands, including farmhouses and cycling tracks, enhancing the experience for investors.

With a mission to add 500 more acres under cultivation in the coming year, Hosachiguru is poised for significant growth. The company, backed by an undisclosed investment from Venkat Narayan, CEO of Prestige Group, has evolved into a profitable venture. Srinath anticipates an annual revenue of ₹40 crore by the end of the current financial year.

While skepticism exists due to past scams in the agricultural investment sector, Hosachiguru distinguishes itself through its commitment to transparency and accountability. The company’s online monitoring tools, coupled with on-ground initiatives, provide a holistic view of their operations, instilling confidence in investors and landowners alike.