Godrej Aerospace, a Godrej and Boyce business unit, has bagged an order to build turbo engines in partnership with the Gas Turbine Research Engine Center at the Defence Research and Development Organisation (DRDO) lab.
The company has an order for eight modules of six engines and the plan is to finish the first round of development by early 2024, said Maneck Eddie Behramkamdin, AVP and Business Head, Godrej Aerospace. He told businessline that the remaining modules would be delivered in a 27–30 month time frame.
“The development engine, a Kaveri derivative, will be used to power one of the aircraft. While aircraft manufacturing is not new to India, modules of engines of this class are being manufactured indigenously for the first time by an Indian private company,” he noted.
Revenue growth
The company has grown at CAGR of 20–22 per cent over the last two to three years, which is expected to continue, it said.
It expects to close the year with revenues of Rs 800-850 crore, with aerospace and defence contributing Rs 650 crore and the remaining coming from its space segment. “Aerospace accounts for 50–55 per cent of the total revenues, and it is a rapidly growing industry. Next year we plan to increase it by about 20–25 per cent, of which 30–40 per cent would come from the commercial side and the balance from the defence side,” he said.
Further, going forward, the focus would be on both space and aero engines, which it believes are the future. Additionally, it will continue to focus on defence systems.
Aero-India 2023
This year the company would have three kiosks at the Aero Show.
“We will focus on defence systems, largely missile systems, actuators, and LRUs. Besides, there will be a full display of engines and engine components. Basically, the three things that we would communicate at the Aero Show are – what we are doing, what the future holds, and how we plan to develop the infrastructure.”