In this fiscal year, Asteria Aerospace intends to exceed sales of Rs 100 million

In this fiscal year, Asteria Aerospace intends to exceed sales of Rs 100 million

According to a top official of RIL group’s drone startup Asteria Aerospace, the company hopes to increase by about ten times this fiscal year and break the Rs 100-crore sales milestone. After the government issued a permissive policy for the sector in September last year, Asteria Aerospace co-founder and director Nihar Vartak told PTI that the drone services company has grown exponentially.

”The government agencies are coming with drone related work. We are participating in the Prime Minister’s Svamitva Scheme, working with three state governments for land records and also with private enterprises in the field of oil and gas and telecom. Dimensions have opened multifold after relaxation of the rules,” Vartak said. Svamitva (Survey of villages and mapping with improvised technology in village areas) scheme is a new initiative of the Ministry of Panchayati Raj.

”We have grown 6 times and expect to grow 10 times this fiscal,” Vartak said on the sidelines of the Drone Festival adding that the company expects to cross Rs 100 crore revenue mark this fiscal year. However, Vartak did not disclose its revenue figure for the last financial year. He said that after the drone rules, the government has been helping the sector by coming out with projects related to drones.

Before Drone policy, Asteria’s 95 per cent business came from defence, police or paramilitary and 5 per cent came from other institutions. Now it is 60 per cent from Defence, police and paramilitary and the rest from government services and private enterprises, he said. Vartak said that the company has increased drone production capacity from 10-15 units per month to 100-150 units. ”Earlier we had 5-6 drone teams. It has now increased to 50-60 teams within a period of six months,” Vartak said.

He said India’s drone festival — Bharat Drone Mahotsav 2022 — has brought together key stakeholders in the domain, including startups, in order to showcase India’s presence and innovation in the sector. ”I believe, this along with the new Drone Rules 2021, will further boost the creation of Geospatial data through drones in India,” Kumar said.

The company is looking to tap GIS (geographical information system) mapping related work and take the service across more states in coming months. GIS mapping firm Esri India managing director Agendra Kumar on the sidelines of the Drone Festival said that in order to scale drone adoption in India, there is a need for a solution or an ecosystem that simplifies drone flying, data capture, processing, and consumption.

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