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The company's subsidiary has entered into MoU with Kawa Space for indigenous developments and deployment of space intelligence, surveillance and reconnaissance (ISR) payloads which will include RF Wideband Software defined Radio (SDRs).
Further by signing this MOU, Paras Anti-drone Technologies and Spacekawa Explorations intends to develop and advance technologies for space applications that can address the challenges of a rapidly changing world.
Paras Defence and Space Technologies offers high precision products and turnkey solutions to the defense and space sector, operating in three main verticals – defence and space optics, defence electronics solutions, and heavy engineering. As on 31 December 2022, the Government of India held 58.94% in the company.
The company's consolidated net profit rose 27.25% to Rs 9.76 crore on 31.09% increase in sales to Rs 60.88 crore in Q3 FY23 over Q3 FY22.
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