Paras Defence Eyes $1 Billion Opportunity In Optical System Space

Paras Defence & Space Technologies Ltd. is eyeing a $1 billion opportunity in the optical system space, with plans to set up a development park with an outlay of Rs 500 crore, according to its top executive.

The defense and space engineering products manufacturer plans to set up an optical systems development park and is in talks with Maharashtra and Karnataka governments to acquire 20 acres of land for the facility, Managing Director Munjal Sharad Shah told NDTV Profit.

"This will be India's first optics park that will be a one-stop shop for high-end design, manufacturing, and testing of optical systems used for automotive cameras to very high-end space cameras," Shah said.

"Initially the solutions will be provided by us, but we will be looking for collaborations with original equipment manufacturers. The country needs something like this to be on par with the best globally," Shah added.

The company is eyeing a $1 billion opportunity in the optical system space and hopes to have a 50% share of that in the next three years, Shah said. The current order book stands at Rs 850 crore, with similar sizes of orders under various stages of discussions, he said.

The orders under the radar are in high-end defense systems, telescopes, earth observatories, and satellites, Shah said.

The company at present is executing a complete avionics suite and cockpit for an indigenously designed 19-seater aircraft named Saras.

"We are the systems integrator for the program, and it will be completed this year," Shah said.

The company is also working on an electromagnetic pulse protection system where it sees good revenue visibility this year and in the coming years. It is also involved in border surveillance and high-end defense electronics.