According to founder and managing director Prateek Srivastava, DroneAcharya Aerial Innovations Ltd, which is funded by ace investor Shankar Sharma, aims to increase its operational income by 300% within three years by educating 25,000 drone pilots each year.
“The topline for FY24 should be 50-60 crore with 18-20% PAT” (profit after tax). We anticipate 300% year-on-year topline growth and 18-20% PAT growth over the next three years. Around 300% is very doable, both optimistically and cautiously.” Srivastava stated that the long-term goal is to increase revenue to 1,000 crore by 2026-27.
According to Srivastava, the firm plans to make roughly 4 crore in profit and 18 crore in operational revenue for the current fiscal year. The firm earned a net profit of roughly 70 lakh in the first quarter and continues to do well in the September quarter.
Srivastava began his career as a research fellow at the Indian Space Research Organisation (ISRO) in 2007. He entered the drone market in 2013 and started DroneAcharya in 2017. He worked with the Indian subsidiaries of multinational drone companies PrecisionHawk and Terra Drone from 2013 until 2017.
The markets were caught aback last week when DroneAcharya’s initial public offering was oversubscribed 177 times. The IPO attracted subscriptions totaling 6,016 crore against an issue size of 34 crore.
“Shankar has been a professional investor for a long time. He advised me to go public, even though the corporation was still in its early stages at the time. But then he persuaded me. Otherwise, we planned to go public in 2023-2024, but we accelerated it by a year. “It helped, and the results are available for everyone to see,” Srivastava said, adding that he is sure of development because the company has solved an immediate problem—a pilot shortage.
“India wants thousands of registered pilots and there are not more than 10 active training outfits. We are all one. We now have a 25% market share, which we want to preserve or increase during the next three years. So even just 10,000 pilots and an average price of 45,000-50,000 works up to 50 crore,” he added.
The long-term goal is to train around 25,000 drone pilots every year. DroneAcharya plans to expand its training schools from two in Gandhinagar and Pune to eight in four months and 25 by March 2024, including four in the North-East. It offers 12 courses ranging from geospatial information systems to cinematography to becoming a Directorate General of Civil Aviation-certified pilot.
“Currently, we have capacity of 200 students each month, but training approximately 40-50 students. By April, we anticipate a monthly usage rate of 2,000 students. We are also receiving. “We are also receiving,” he continued.
India wants thousands of registered pilots and there are not more than 10 active training outfits.
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