The Bangalore-based Taneja Aerospace and Aviation Pvt Ltd (TAAL) has diversified to foray into the software solutions space. The company has set up a wholly-owned subsidiary - Taneja Software Technologies Ltd - with an investment of Rs 3 crore to develop aerospace and avionics software.
Speaking with The Financial Express, Taneja Aerospace and Aviation chairman Khusroo Rustumji said, ``We are now focussing on providing software packages to aircraft manufacturers. TAAL has domain knowledge in avionics. Through strategic tie-ups with foreign companies, we aim to be key players in this area over the next two years.'' TAAL joint managing director Arvind Nanda said, ``There is a huge demand for embedded systems for aircrafts especially in the European market. This is a niche sector and Taneja software would address this market.
We will also provide software support for flight management system. Hence we are in talks with several aircraft manufacturers including US-based Rockwell Collins.'' On the potential of heli-tourism in the Indian scenario, Mr Rustumji said,``The mindset of the Indian tourist has not progressed enough to utilise aircharter services for sight-seeing purposes. Besides this, the cost structure inhibits the utility factor. Our target clientele are still mostly foreign tourists and corporates.'' The heli-tourism package designed by TAAL is pushed through tour operators. The package ranges from Rs 22,000 to Rs 1.2 lakh for various destinations across India. TAAL has a tie-up with KSTDC and is in talks with the tourism boards of Kerala and Tamil Nadu to provide similar services. TAAL has invested Rs 20 crore on a manufacturing facility for production of P68C, a six-seater twin piston engine aircraft.
The production unit which can manufacture 12 aircrafts in a year can be scaled up to produce 24.
The company has also started manufacturing aerostructures (aircraft components) for the export market. It has bagged trial orders from firms in Israel and France. Mr Nanda said Taneja's USPs were low labour costs and quality assurance. TAAL has launched the corporate aircraft programme or the half-share scheme designed for the dealer-oriented companies with multi-location enterprises in remote towns and industrial estates of India.
CAP offers two packages which includes a half share program of 200 flying hours which would cost Rs 1.15 crore. The other deal is a quarter share program of 100 flying hours priced at Rs 62.5 lakh. On the company's future strategy, Mr Nanda said, `` We will focus on consolidating TAAL's position in the fixed-wing aircharter sector. Aggressive promotion of the corporate aircraft programme and to establish Taneja Software as a leading software solutions provider to the aviation industry are on top of the agenda.'' TAAL totted up revenues of Rs 11 crore last fiscal and is projecting revenues of Rs 15 crore for the current financial year. The company expects Taneja Software to make Rs 10 crore over the next two years.
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