Paras Defence Confident Of Cracking Crowded Drone Market, Says Munjal Shah


Paras Defence and Space Technologies Ltd. aims to be one of the top five companies in India’s crowded drone market.

The nation has more than 500 drone companies with great business potential, albeit with very poor organisation, Munjal Shah, managing director at Paras Defence, told BQ Prime’s Niraj Shah in an interview.

The drone business is going to be a great opportunity for everyone but also quite challenging as there will be competition, according to Shah. Paras Aerospace, the drone unit of the defence engineering company, has a large number of drones in many different varieties on offer for the next financial year, Shah said.

“For Paras Aerospace, we have already unlocked our balance sheet, and we will start seeing numbers from this quarter. We also believe we will have a good start this financial year,” Shah said.

Besides drones, the defence and space engineering company is also offering drone cameras. Recently, the company got an order for 65 drone parachutes from New Space, a Bengaluru-based company.

Shah is confident of growth across its businesses, citing its wide range of products and solutions. “We started as a tier-3 company, where we were making mechanical components,” he said. “We then moved on to making optical components, followed by electronics. We believe we will also contribute to the export market.”

Speaking about growth expectations, Shah said, “This year, we expect over 50% growth from our defence and space optics, about 35% growth from our defence electronic business, and 15% growth from our heavy engineering.”

Since Paras Defence is the only private player in India with the latest edition of the electro magnetic pulse protection solution, it will help expand exports, according to Shah

“This has a great export market, and we, being a very cost-effective solution provider, believe that our export numbers will also grow and probably be in double digits in the coming years,” Shah said.

Based on the order book and bids with a high probability of winning, the company will be delivering complete systems such as submarine periscopes, remote control weapon stations, and space cameras.


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