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09:59 AM, July 13, 2017
HAL Targets 17900 Crore ($2.8B) Revenue From Operations In Current Fiscal
T. Suvarna Raju, CMD HAL (left) and Mr Ashok Kumar Gupta, Secretary, Department of Defence Production during signing of MoU in Delhi on July 11, 2017 (Image:HAL)

India's Hindustan Aeronautics Limited has targeted a revenue from operations to the tune of INR17900 Crore ($2.8Billion) during the 2017-18 fiscal year, which is claimed to be its highest ever.

HAL signed a Memorandum of Understanding (MoU) for the financial year 2017-18 with Ministry of Defence (MoD) in Delhi yesterday. The annual MoU was signed between Mr Ashok Kumar Gupta, Secretary, Department of Defence Production and Mr T Suvarna Raju, CMD-HAL. 

The Company has also laid specific emphasis on Capacity building, Modernization, Solar Power plants, aiming to achieve capital expenditure of Rs.1300 crores ($201 million). 

The Company’s thrust is on Make-in-India projects such as Hindustan Turboprop Trainer-40 (HTT-40), Light Combat Helicopter (LCH) and Light Utility Helicopter (LUH). Among the important milestones targeted to be achieved include clearance by DGCA for civil version of Do-228 aircraft, Jaguar DARIN-III Upgrade and Mirage 2000 Upgrade.   The Company also aims to achieve 5% increase in indigenous content through indigenisation under Make-in-India initiatives.

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