Paras Defence And Space Technologies Limited has informed the Exchange regarding a press release dated May 05, 2025, titled "Paras Defence and Space Technologies Ltd. Announces Strategic Joint Venture with Heven, a Leading Global Drone Innovator".
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Paras Defence has announced a joint venture with HevenDrones Israel, a subsidiary of US-based Heven, to set up a new Indian company that will design, manufacture, and supply next-generation drone systems for defence and homeland security. This marks the first time hydrogen-powered drone technology is being brought into India, with the JV positioned to serve logistics, tactical surveillance, border operations, and high-altitude missions. HevenDrones will contribute its proprietary platforms, intellectual property, production know-how, and prototypes, while Paras Defence will handle manufacturing, sales, local compliance, and operations in India. The company highlighted strong FY25 financials, including nearly doubled year-on-year net profit, 35.8% revenue growth, 26.2% EBITDA margins, and an order book exceeding ₹9 billion, alongside its first stock split and dividend.
This JV opens a new high-growth drone manufacturing vertical for Paras Defence, diversifying beyond optics and traditional defence engineering and giving it access to differentiated hydrogen-powered UAV technology aligned with India's self-reliance push. For shareholders, it signals strategic expansion into a fast-growing segment with near-term revenue potential, though actual financial contribution will depend on order conversions and execution.