PixxelSpace-led consortium to make country's first commercial earth observation constellation
According to the agreement, the consortium will invest Rs 1,200 crore over next five years to set up the 12-satellite constellation. It will own, manufacture, launch, develop ground infrastructure, operate the satellite constellation as well as commercialise the data generated.
'By generating high-resolution, indigenous satellite data, the initiative will significantly reduce India's reliance on foreign sources, ensure data sovereignty, and position the country among the global leaders,' said IN-SPACe.
The bid for partnership with the government — which will provide technical and policy support — was won by the consortium of PixxelSpace, Piersight Space, Satsure Analytics India, and Dhruva Space, at the financial stage. At least two other consortiums, led by Astra Microwave Products and GalaxEye Space, had also been shortlisted after a technical evaluation.
The satellites will be equipped with panchromatic, multispectral, hyperspectral, and microwave SAR sensors — which can produce images of the Earth in varying degrees of detail. The data would be used in the fields of agriculture, infrastructure development and urban planning, disaster management, security, as well as climate change monitoring.
'(This) demonstrates the capability and confidence of Indian companies to lead large-scale, technologically advanced, and commercially viable space missions that serve both national and global markets,' said Dr Pawan Goenka, IN-SPACe Chairman.
The constellation will be deployed in a phased manner over four years to ensure continuous service upgrades and expanded coverage. Once the constellation becomes operational, it will be among the most advanced earth observation systems in the world.
'We are grateful to IN-SPACe and the Government of India for trusting our consortium with this historic mission. Together with our partners Satsure, Dhruva and PierSight, we look forward to building world-class space-tech capabilities that serve the whole planet from Indian soil. This is India's moment to lead the world in space-powered solutions,' said Awais Ahmed, CEO of PixxelSpace.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
14 minutes ago
- Mint
Centre outlines plan to meet the energy requirements of 2047 India
The Union ministry of petroleum and natural gas has outlined a strategic plan to meet India's energy needs by 2047, the year the government aims to attain 'developed nation' status. In a recent meeting, the ministry discussed pathways to develop a unified strategic vision for shaping India's energy future and aligning national priorities with key Indian and global energy trends, petroleum and natural gas minister Hardeep Singh Puri said on X on Thursday. The meeting gains significance as it has been held in the backdrop of the ongoing tariff wars and geopolitical tensions. "In an insightful strategic plan, we outlined the pathbreaking changes India needs to introduce in order to meet the energy needs of 2047. The presentation discussed pathways to develop a unified strategic vision for shaping India's energy future; align national priorities with key Indian and global energy trends, how to Make in India for the World, advancing energy self-reliance and sustainability through reforms, enhance domestic output, value maximisation of mature fields, and the creation of future-ready energy ecosystems in the country, said his tweet. 'We also discussed ways and the need for strengthening the @PetroleumMin organization and capabilities for future readiness to be able to deliver,' he added. India's energy demand has been growing and has touched new record levels in the past few years. According to data from the Petroleum Planning and Analysis Cell, India's petroleum product demand continues to remain robust, with consumption seen at a record 252.9 million tonnes for the ongoing fiscal year (2025-26). This is 4.65% higher than the 241.8 million tonnes projected for 2024-25, driven by key transport fuels petrol and diesel. This would be the third year in a row that India's petroleum product consumption has hit a record high. At a time when global oil demand is expected to taper down in the years ahead amid economic slowdown concerns and the transition towards electric mobility, India has emerged as one of the few outliers. To be sure, the transition to electric mobility, having started only recently, is expected to gain pace and penetrate the automobile market in a significant way going ahead. According to the International Energy Agency (IEA), India's demand for oil will increase more than any other country at a million barrels per day (bpd) over the next five years, making it the main driver of global demand growth. The meeting for charting the plan to meet the long-term energy demand also gains significance as India aims to become the refining and petrochemical hub of the world. India's oil refining capacity is expected to reach 309.5 million metric tonnes per annum by 2028, from the current 256.8 MMTPA. India is also an exporter of petrol and diesel, among other petroleum products.
India.com
17 minutes ago
- India.com
Crackdown on Boss IPTV and affiliates, viewers warned of legal action and severe penalties
Image for representational purposes New Delhi: An international operation has exposed a large-scale illegal Internet Protocol Television (IPTV) operation streaming pirated content across various digital platforms. According to the reports, this unlawful network has been implicated in severe copyright infringement and data privacy violations. The network is operating under brand names such as Boss IPTV, Guru IPTV, Tashan IPTV, Brampton IPTV, Vois IPTV, Indian IPTV, Punjabi IPTV, Edmonton IPTV, Boss Entertainment IPTV, and UltrastreamTV. These services have been illegally broadcasting premium Indian and international content including channels and programs from Star, Zee Network, Colors, Sony, Sun Network, ETV, Aha, Sonyliv, as per the police. They are also streaming global streaming platforms such as Netflix, Amazon Prime Video, Hulu, and international sports leagues—without securing proper licenses or permissions. Here are some of the key details: These illegal services were delivered through Android/Linux-based set-top boxes or via apps on smart devices They were aggressively promoted online via social media, websites, and blogs, offering premium content at prices significantly below legal services. As per the government investigations, these platforms do not pay content owners or platforms for rights, deeply harming the entertainment industry. The global South Asian broadcast sector loses an estimated USD 200– USD 300 million annually due to IPTV piracy, affecting licensed platforms like YuppTV. There are serious security concerns apart from economic damage Pirated IPTV services frequently collect user data, including credit card details, and are often connected to phishing scams, tax evasion, and potentially the funding of other criminal activities, such as drug trafficking and terrorism. To recall, in 2021, following a complaint filed by YuppTV, the Faridabad Cyber Crime Branch conducted a raid on Boss IPTV operations in India, resulting in the arrest of six individuals connected to the illegal piracy network. YuppTV has further filed a civil complaint in the United States District Court, represented by Goldstein Law Group, LLC ('GLP'), targeting Boss IPTV and its affiliated entities. According to GLP: 'Any subscriber using illegal IPTV pirate services… may be linked to copyright infringement, a crime under U.S. federal law. Convictions may result in felony charges, and non-citizens convicted of such offenses may be subject to deportation under U.S. law.'
Economic Times
17 minutes ago
- Economic Times
Muthoot Finance gets target price boost from Jefferies and Nuvama. Is it time to buy?
Leading brokerage firms, Jefferies and Nuvama, have raised their target prices on Muthoot Finance following the company's robust Q1FY26 performance. Both firms have reiterated their bullish stance on the non-banking financial company, citing strong growth in gold loan assets, margin expansion, and improved asset quality as key positives. ADVERTISEMENT The newly assigned target prices reflect a healthy 19% upside in the stock from its closing price on Wednesday. Additionally, after the results, the stock surged 11.3% to its new 52-week high of Rs 2,793.65 on the BSE. Jefferies has maintained its 'Buy' rating on Muthoot Finance while increasing its target price to Rs 2,950 from Rs 2,660, valuing the stock at 2.7x September 2027 estimated book value. The brokerage highlighted the company's 90% YoY growth in standalone profit to Rs 2,046 crore, driven by strong gold loan growth, margin expansion, and NPA to Jefferies, Muthoot Finance's Q1 performance benefited from a favourable macro environment for gold loans, with AUM up 42% YoY and loan-to-value (LTV) ratios offering headroom for further growth. Margins improved sequentially, with the net interest margin (NIM) rising by 88 basis points to 12.2%. This was aided by recoveries totalling Rs 3.5 billion, including Rs 1 billion from asset reconstruction companies, and the rest from non-performing loan settlements. ADVERTISEMENT The brokerage also noted that while loans are largely fixed-rate, about half of borrowings are floating and mostly linked to MCLR, implying some lag in cost repricing. Jefferies expects Muthoot to deliver a 23% profit CAGR with return on equity (ROE) exceeding 21% over FY26–28, supported by steady loan growth, controlled credit costs, and limited loan losses. Unlock 500+ Stock Recos on App ADVERTISEMENT Nuvama has also reiterated its 'Buy' recommendation, raising its target price to Rs 2,993 from Rs 2,625, based on a 3.4x FY26 estimated book value. The brokerage described Muthoot's Q1FY26 as a 'strong all-round beat,' significantly outperforming peers across growth, profitability, and asset quality pointed out that consolidated AUM rose 10% QoQ and 42% YoY, with gold AUM alone growing 40% YoY and 10% QoQ. Margins expanded by 88 basis points sequentially, aided by recoveries from both NPL settlements and ARC transactions. Even excluding recoveries, yields remained steady, unlike the declines seen among other lenders in the sector. ADVERTISEMENT The brokerage also highlighted the company's efficient cost management and significant reduction in credit costs during the quarter. Recoveries of Rs 3.5 billion, including Rs 1 billion from ARC sales, directly contributed to yield improvement. Additionally, subsidiaries' growing contribution to the gold loan business is expected to support overall momentum. Nuvama added that management remains confident in sustaining both yield and growth levels going Finance on Wednesday reported a consolidated net profit of Rs 1,974 crore for the quarter ended June 30, 2025, up 65% from Rs 1,196 crore in the corresponding period last year. ADVERTISEMENT Sequentially, profit rose 37% from Rs 1,444 crore in Q4FY25. The lender's consolidated loan assets under management (AUM) reached a record Rs 1,33,938 crore, representing a 37% year-on-year increase and a 10% rise from the previous loan AUM, a key business segment for the company, grew 40% YoY to Rs 1,13,194 crore, marking its highest annual growth in this segment to company also reported other operational highlights during the quarter, including crossing the Rs 1 trillion market capitalisation milestone, opening 22 new branches, and winning six awards at the E4M Golden Mikes, such as the Golden Category award for Best Integrated TV Campaign and the Silver Category award for Best Use of Influencers/Celebrities on TV for its 'Sunheri Soch' Season 3 campaign. Also read: Zerodha's Nithin Kamath on how a boring, invisible Sebi step brought windfall gains for retail investors (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
