Contracts & Customers
Prime Fresh Named Implementing Agency for ₹124 Crore Nashik Vegetable Cluster
By News Desk ·
Key takeaways
- Prime Fresh was appointed implementing agency for the Nashik Peri-Urban Vegetable Cluster, with an estimated investment of ₹124 crore across 10,000 hectares.
- The project includes 6,000 MT of cold storage, 3,000 MT of frozen storage, 14 farm-gate packhouses and 10 refrigerated vehicles.
- Prime Fresh signed a grant agreement with the National Horticulture Board on October 15, 2026, ahead of the October 30, 2026 launch event.
Prime Fresh Limited has been appointed implementing agency for the Nashik Peri-Urban Vegetable Cluster, a project with an estimated investment of ₹124 crore across 10,000 hectares. ScanX reported the appointment on October 30, 2026. The company signed a grant agreement with the National Horticulture Board for the project on October 15, 2026.
Prime Fresh's Role in the Nashik Cluster
The appointment follows the launch of 12 horticulture clusters nationwide by Prime Minister Narendra Modi under the Cluster Development Programme. The National Horticulture Board oversees the programme, which is aimed at strengthening the horticulture value chain through post-harvest management and market linkages. The National Horticulture Board revised eligibility norms and subsidy rates for its commercial horticulture and cold storage schemes in August 2026 to prevent duplication of benefits, The Tribune reported.
The Detailed Project Report sets out 6,000 MT of cold storage and 3,000 MT of frozen storage capacity, alongside 14 farm-gate packhouses, 10 refrigerated vehicles, two aggregation centers and one integrated packhouse. Facilities for vegetable freezing, dehydration and value addition are included, as are digital traceability and quality control systems. The programme targets direct benefits for around 11,000 farmers through training in modern agricultural practices, access to quality planting material and technical assistance.
Hiren Ghelani, Director of Prime Fresh, said the entrustment is a crucial milestone for the company. He said the aim is to enhance farmer incomes and reduce crop wastage through robust cold-chain networks. The national initiative spans approximately 1.46 lakh hectares and benefits over 1.3 lakh farmers across 12 clusters.
How the NHB Approvals Unfolded
Prime Fresh submitted two Detailed Project Reports and business plans to the National Horticulture Board on August 19, 2025, ScanX reported. The board granted in-principle approval for the Nashik Cluster Development Programme on September 13, 2026, and the grant agreement was executed on October 15, 2026. The company informed BSE Limited of the signing under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Prime Fresh's Investment in Poonaagrocart
Prime Fresh's Audit Committee approved a revised investment structure on June 30, 2026, to acquire a 51% stake in Poonaagrocart LLP for ₹51 lakh, with the transaction scheduled to complete by March 31, 2027, ScanX reported. The company reported a 15.7% year-on-year rise in Q1 FY27 revenue to ₹61.71 crore and a 50.8% increase in profit after tax to ₹4.35 crore, according to the same outlet.