DroneAcharya has secured a contract for the establishment of a specialised drone training laboratory aimed at enhancing the skills of the Indian Army personnel in drone operations.
The company disclosed this development in a filing with the stock exchange.
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The scope of the contract, valued at Rs1.87m ($21,660), encompasses the provision of necessary hardware and the execution of drone piloting training sessions.
The commencement of the project was marked on 27 January 2025, with an expected completion by 28 March 2025.
In the filing, the company statesd: “This achievement reflects our commitment to advancing drone technology and highlights our growing reputation as a trusted partner in the defence sector. Partnering with the Ministry of Defence strengthens our credibility and paves the way for new opportunities in innovation and growth within this domain.
“We encourage all stakeholders to take note of this significant development.”
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By GlobalDataFollowing the announcement of the contract, the company’s shares experienced a surge, climbing more than 4% in early trading, reaching Rs108 per share on 28 January 2025.
According to forecasts by GlobalData, India’s defence budget is set to expand to $415.9bn over the period from 2025 to 2029, representing a compound annual growth rate of 3.7%.
This budgetary growth is part of India’s strategic initiative to sustain military readiness and bolster its military stature on both global and regional stages.
The contract with the Indian Army comes on the heels of DroneAcharya’s recent move to merge with AVPL International, a drone technology startup.
