Paras Aerospace Private Limited, a subsidiary of Paras Defence and Space Technologies announced that it has bagged a contract for procurement of 400 units of agri-drones for IFFCO Nano Fertilisers, including two years annual maintenance contract (AMC). The order is worth approximately Rs 42.2 crore. “We are pleased to inform you that Paras Aerospace Private Limited, subsidiary of Paras Defence & Space Technologies Limited, has received the contract for procurement of 400 units of agri-drones for IFFCO Nano Fertilisers, including two years AMC, totaling to approx. Rs 42.4 Crores (Excluding Applicable Taxes),” the company said in a regulatory filing.
The contract includes supply of 400 agri-drones including accessories, spares, training for drone pilots and AMC. According to the company, the entire delivery is to be completed by 31 March, 2024. It said that the value of deliveries including the drones, accessories and spares is approximately Rs 34.7 crore and the value of AMC for two years is approximately Rs 7.7 crore which totals the entire order to Rs 42.2 crore.
Earlier in June, Paras Defence and Space Technologies had announced that it has bagged a contract worth Rs 53 crore from the defence ministry’s research and development laboratory, Instrument Research & Development Establishment (IRDE). The contract, it had said, was for supplying Optronic Periscopes, including installation support, for Integrated Combat System (ICS). This is expected to be executed in two phases – a partial delivery will be made in FY24 and the balance delivery by FY25 or earlier.