The paper has presented the results of financial analysis of a 160 acres eucalyptus farm in Ahmedabad District. The soil on the farm is sandy loam type and the water is brackish. The fixed capital investments in the business were estimated at Rs. 400 thousand. The analysis supported the conclusions that, in certain situations, (i) individual farm entrepreneur may expect significantly higher returns by practising tree-culture than crop-culture, and (ii) forestry activity with fixed investments averaging Rs. 2,500 or more per acre may prove to be much more economical than with lesser or no investments. Based on these conclusions, the need for involving farm firms in the task of bringing culturable waste lands under trees has been stressed.