Newspace India to invest Rs 10,000 crore to launch commercial satellites

Bengaluru: In the next five years the space sector, New Space India Limited (NSIA) In)
target investment of Rs 10,000. “We expect to have an investment of approximately ?2,000 crore per year, starting next year or the year after that. That will be the kind of investment that we will be kind of seeking to do every year. We are estimating manpower requirement of 300 people in about five years,” Radhakrishnan Durairaj, executive director of NSIL said on Friday in Bengaluru.

The company had revenues of ?300 crores in the previous fiscal and around ?400 crores in the current year. He added that the NSIL anticipates around ?400 crore revenue next fiscal as well as it looks to scale up operations. “We have contracts for four more dedicated launches but our NDAs (non-disclosure agreements) prevent us from revealing more details. All are foreign satellites,” he added.