The present study analysed a total of 272 saffron (Crocus sativus L.) genotypes using multivariate analysis. We carefully observed and recorded information about the floral, morphological and corm attributes. Significant variations were observed among the genotypes for all the traits, indicating a high level of variability and suggesting a great potential for saffron improvement. The phenotypic variances were found to be greater than the estimated genotypic variances. Descriptive data on various morphological traits revealed significant differences in the frequency of phenotype classes as well as a wide distribution range. The high heritability estimates were observed in average number of daughter corms per plant (ANDCPP), initial weight of corms (IWC g), no. of buds/corm (NBPC), – no. of leaves in main sprout, (NLMS), number of sprouted buds per corm (NSBpC) and total number of leaves (TNL), whereas average weight of daughter corms per plant (AWBCPP), corm diameter (CDcm), pistal length (PL) cm, style length (STYLcm), fresh weight of pistals per plant (FWOPPPmg) and stigma length (STML cm), revealed medium sense of heritability. The traits dry weight of pistals per plants (DWOPPP mg), inner tepal width (ITW cm), leaf length (LLcm), number of flowers per corm (NFpC), outer tepal length (OTLcm), parianth length with tube (PLWT cm) and weight of stigma (WSTG mg) exhibited low broad-sense heritability. Principal component analysis (PCA) divulged that the first eight component characters had an eigenvalue greater than one with a contributory cumulative variance of 66.15% to the total variance, while as rest of the 16 components contributed 33.85% of total variation in a set of 272 genotypes of saffron. The eigenvalues for yield attributing traits for significant PCs ranged from 5.48 (PC1) to 1.03(PC8). The current study has revealed that there was a sufficient variability in a set of saffron germplasm lines which forms the basis for performance-based clonal selection. Moreover, identified elite genotypes based on saffron yield and corm attributes could be used in the saffron breeding programme for the development of saffron varieties.