A consortium of Larsen & Toubro (L&T) and Hindustan Aeronautics (HAL) are working on launching an industry-led Polar Satellite Launch Vehicle (PSLV), which will put a satellite in space by 2024.
“Currently, we are executing contracts for five PSLVs in a consortium mode with HAL, and it will be an industry-built launch vehicle. It will be used for industry operated missions,” Arun Ramchandani, executive VP & Head-Defence at L&T told FE in an interaction.
The opening up of space for the private sector comes after the Indian Space Research Organisation (ISRO) intends to focus more on scientific missions and R&D, handing over the commercial missions to the industry. NewSpace India (NSil), the commercial arm of ISRO, has the primary responsibility of enabling Indian industries to take up high-technology space related activities.
It is also responsible for promotion and commercial exploitation of the products and services that come from these space programmes.
“That’s the way it’s happening in the world, and it will happen in India also. We will have the industry-led PSLV launch happening sometime in 2024,” he added.
For the Chandrayaan-3 launch, it provided launch vehicle hardwire, S-200 boosters, which gives the initial thrust for the launch vehicle, umbilical systems and deck panels. The company, which has been associated with ISRO for the last 50 years, had earlier supplied heat shields, track radars, deep space network antennae and G-Sat stations.
According to L&T CEO & MD S N Subrahmanyan, “The moon landing is a resounding validation of the tenacity and spirit of the ISRO scientists. We are proud to have been part of this historic occasion and humbled by the confidence the nation has placed in our high-tech manufacturing expertise”.
“From SLV to LBM-3, we have been involved in all the missions,” he said, adding, the company would also be involved with other projects such as Aditya and Gaganyaan among others. L&T is also scouting for similar opportunities with other nations, which are at “exploratory” now, Ramchandani added.
In FY23, L&T’s defence engineering business recorded a 50.1% rise in order inflow by bagging some large value domestic orders totalling Rs 12,125 crore, compared to Rs 8,079 crore in the previous year. It earned revenues of Rs 3,504 crore, an 8.6 % rise, compared to the previous year, according to its annual report.