BENGALURU: Newspace India Limited (NSIL), the commercial arm of ISRO, which started operations in 2019 has clocked a revenue of Rs 300 crore in its first year and is now looking at a revenue of Rs 400 crore from operations in 2020-2021.
Additionally, the company is looking to invest Rs 2,000 crore per year for five years and up its manpower capability from the existing 20-25 to 300 to cater to the country's and international space requirements.
The money will be raised by a mix of equity and debt, Narayanan G, Chairman NSIL, told mediapersons on Friday.
He said that the enterprise was foreseeing a paradigm shift, from having a mandate to produce and operate launch vehicles from ISRO, to procuring, owning, launching and providing space based services, primarily in the communcation sector to its various customers
As per a top source from the organisation, more revenue comes from satellite related missions than launches.
NSIL has already started discussions with users about communication satellite capacities. It is also in talks with the department of space to take ownership of two communication satellites.
NSIL is also looking at owning the already operating satellites in space. "We propose to take over the satellites run by ISRO," said Narayanan.
The space enterprise, which has been incorporated as a completely government owned enterprise with a paid up capital of Rs 10 crore on March 6 2019, has an authorised capital of Rs 100 crore.
A recent budget announcement identified 700 crore for the company in the coming financial year. How it will be taken into the company is under discussion, said Narayanan.
With a global demand for launching small satellites, the enterprise is looking at production of the PSLV and is expecting to engage with industry partners in the next six months.
The enterprise is looking at capturing a mid segment class of vehicles. "Today we are the best in the world to cater to that segment of the market. The other competitive vehicle in similar class to PSLV is Arianespace's (Italian) Vega. Whereas Soyuz (Russia) and SpaceX (USA) are heavylift launchers. PSLV is ideally suited for mid-segment satellite with its success rate, number of launches performed in India and commercial competitiveness," said Radhakrishnan D, Technical and Strategy Director, NSIL. He told The New Indian Express that the enterprise eventually aims to produce GSLV, GSLV-Mk3, and SSLV launch vehicles.
So far, NSIL has launched 342 satellites from 24 countries, with 80 per cent of all small satellites being from the US.
NSIL to launch four international satellites by 2023
The launch of four international satellites is on the anvil for NSIL.
While refusing to disclose details of the customers due to a non-disclosure clause, Radhakrishnan D, Technical and Strategy Director, NSIL, on Friday said the company has four dedicated international launch service agreements of which two will be launched next year and two more the year after that.
Three of these launches will be on board ISRO's Polar Satellite Launch Vehicle (PSLV) and one will be via the Small Satellite Launch Vehicle (SSLV).
He was confident that the order book target will be achieved in a big way, with two communication satellites coming into the picture.
NSIL is looking to clock a revenue of Rs 400 crores in 2020-21 and has the same projected revenue for 2021-22.
While this Central Public Sector Enterprise (CPSE) has been planning to take over ISRO's communication and remote sensing satellites to add to its revenue, Narayanan G, chairman NSIL, said the enterprise is looking for new emerging demands for satellite services and will concentrate on it.
In the two years of its existence, NSIL executed launch services spread over 4 PSLV missions for 45 auxiliary customer satellites and the recent one, a primary satellite for INPE Brazil.
Towards the manufacture of PSLV, its core strength globally for mixed launches, NSIL has already issued the request for proposal for identifying an industrial partner.
In the meantime, NSIL is also looking to acquire two communication satellites for DTH and broadband, and Narayanan said discussions are on at an advanced stage with the Department of Space (DoS).