Sarveshwar Foods Limited Announces JKHPMC's In-Principle Approval for INR 197.29 Crore Integrated Basmati Cluster Development Project in Jammu & Kashmir

PNN

Srinagar (Jammu & Kashmir) [India], December 17: Sarveshwar Foods Limited's (SARVESHWAR | BSE: 543688 | INE324X01026), one of India's leading Basmati rice processors and exporters, today announced that it has received In-Principle Approval from the Jammu & Kashmir Horticulture Produce Marketing & Processing Corporation (JKHPMC) for the implementation of a large-scale Integrated Basmati Cluster Development Project across RS Pora, Samba and Kathua districts.

The project, approved under the Holistic Agriculture Development Programme (HADP) (Project No. 22), carries a total investment outlay of ₹197.29 crore and is aimed at transforming the Basmati value chain in Jammu & Kashmir from seed to market.

A Major Boost to J&K's Basmati Ecosystem

The project will establish modern infrastructure for:

- Pre-production & scientific farming

- Post-harvest management & value addition

- State-of-the-art processing facilities

- Branding, logistics and marketing linkages

This intervention is positioned to significantly elevate the quality, scale and global competitiveness of Jammu's world-renowned Basmati varieties.

Project Investment Structure

The total investment of ₹197.29 crore will be funded through a mix of equity, term loans and HADP financial assistance, enabling large-scale infrastructure creation to support farmers and strengthen the Company's integrated value chain.

Key project allocations include:

- ₹71.14 crore for pre-production & production systems

- ₹57.59 crore for post-harvest management & value addition

- ₹12.74 crore for logistics, branding & marketing

- ₹55.83 crore for other project-related infrastructure

High Impact on Farmers and Rural Communities

The project will directly benefit farmers across the Basmati belt by:

- Increasing yields through scientific seed distribution

- Lowering production costs and reducing post-harvest losses

- Ensuring access to high-demand national and export markets

- Providing better storage, aggregation and processing systems

- Boosting rural employment and entrepreneurship opportunities

Under the program, large-scale seed distribution has been planned, covering:

- 91,254 hectares under Basmati (B370)

- 36,623 hectares under CSR 30

- 52,229 hectares under PB 1121 / PB 1501 and other premium varieties

This balanced varietal approach ensures higher productivity while preserving the unique aroma and grain quality of Jammu Basmati.

Leadership comment on the update: "This approval is a landmark moment for Sarveshwar Foods and for the farming community of Jammu & Kashmir. The Integrated Basmati Cluster will not only modernize agriculture in the region but also enhance livelihoods and reinforce the global stature of JK Basmati. We are proud to partner in this transformative initiative under HADP."

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