
Nashik unit of Hindustan Aeronautics Ltd to roll out its first Tejas MK1A jet in June
: The first Tejas
from the Nashik production line ofwill roll out this June, sources have said.The defence PSU had first planned to unveil the jet in May, but the sources said that deadline was postponed due to certain technical difficulties.Nashik's HAL hub is in Ozar and is the company's third production line for the
, after the two in Bengaluru.
Tired of too many ads? go ad free now
The Ozar facility, inaugurated on April 7, 2023, cost HAL Rs 150 crore to set up and is expected to make eight LCAs every year, boosting the jet's overall annual production from the current 16 to 24.The MK1A variant of the LCA includes improvements in combat avionics and air-to-air refueling capabilities, officials said.In Feb, TOI had reported that the Indian govt plans to crank up the production of Tejas jets.
IAF has received 38 of the 40 Mark 1 variants of the fighters it had ordered as part of two contracts in 2006 and 2010. As for the MK1A variant, HAL is expected to deliver 83 of them, under the Rs 46,898 crore deal it signed in Feb 2021. The Nashik division of HAL has a total of 2,207 employees, including 1,188 technical experts, 624 experts for technical support and 395 engineers. It also makes and overhauls Su-30s and Mig-21s. In fact, its Su-30 MKI Repair and Overhaul (ROH) facility at the Nashik hub was set up in 2014, the first of its kind anywhere in the world, to meet the operational requirements of the IAF.In 2000, HAL Nashik received orders from govt to manufacture 232 Su-30 MKI aircraft for the IAF. HAL Nashik delivered the first Su-30 MKI aircraft to the IAF in 2004. The last lot of 12 fighter aircraft was completed in 2019-20. After that, HAL Nashik has had no new orders for the jet from IAF.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Hans India
25 minutes ago
- Hans India
Rs 159.59 cr sanctioned for ROBs
Guntur: Union Minister of State for Rural Development Dr Pemmasani Chandrasekhar said the Union Ministry of Railways has sanctioned Rs 159.59 crore for the construction of Syamala Nagar and Sanjeevaiah Nagar ROBs. He made it clear that the Centre will bear full expenditure for the construction. In a statement, he said so far, the Union Ministry of Railways sanctioned ROBs at Sankar Vilas Centre, Gaddipadu, Pedaoalakaluru, Nandivulugu and Mangalagiri at a cost of Rs 572.47 crore. He said he met railway general manager Ajay Jain and thanked him for sanctioning Rs 572.47 crore for ROBs.


Time of India
an hour ago
- Time of India
Fidelity marks up IPO-bound Lenskart's valuation to $6.1 billion
A fund managed by US-based Fidelity has marked up the valuation of omnichannel eyewear retailer Lenskart by over a fifth to $6.1 billion at the end of April 30, according to a monthly portfolio holdings update by the financial services major. This marks a 21% increase of the company's fair value in Fidelity's books compared to the $5 billion valuation at which it acquired the shares in June 2024 during a secondary transaction that also saw Singapore's Temasek join Lenskart's roster of blue-chip investors. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo Crossover funds such as Fidelity, which invest both in publicly traded and privately held companies, periodically review the valuation of their portfolio companies. To be sure, the fair value of a company is ascertained on the basis of a number of factors, including financials shared with investors, market conditions and the performance of comparable peers. Since inception in 2010, Lenskart has closed nearly $2 billion in funding, including secondary deals. It is due to set up its largest eyewear manufacturing facility in Telangana with an investment of about Rs 1,500 crore. Live Events As reported by ET, the eyewear retailer is considering a $1 billion public offering at a potential $10 billion valuation, double that of its last funding round as reported by ET. Earlier this month, Lenskart converted into a public company by changing its registered name from Lenskart Solutions Private Limited to Lenskart Solutions Limited through a special resolution passed by its shareholders. Lenskart had closed a $200 million secondary round last June at a $5 billion valuation, with investments from Singapore's sovereign fund Temasek and Fidelity. Separately, in July 2024, Lenskart founders Peyush Bansal , Neha Bansal, Amit Choudhary, and Sumeet Kapahi had invested almost $20 million in the company. Previously, in March 2023, Lenskart had raised $600 million from Abu Dhabi Investment Authority and ChrysCapital. Of this, $450 million was a secondary share sale, which allowed existing investors such as SoftBank and Chiratae Ventures to partially sell their stake in the company. This round had valued Lenskart at $4.5 billion. Lenskart bagged the top honour at The Economic Times Startup Awards 2024 . It was named the Startup of the Year by an elite jury for its success in building a fast-growing, large-scale omnichannel consumer retail venture while creating an entirely new category. In FY24, Lenskart's net loss shrank to Rs 10 crore from Rs 64 crore in FY23, which the company attributed to technology-driven operational efficiencies. Operating revenue rose 43% to Rs 5,428 crore, while earnings before interest, taxes, depreciation, and amortisation (Ebitda) more than doubled to Rs 856 crore. The Gurugram- based company produces about 25 million frames and 30–40 million lenses annually. It operates over 2,500 stores across India and Southeast Asia in addition to a strong online presence. The company has yet to file financial statements for fiscal year 2025 with the Registrar of Companies.


Hans India
an hour ago
- Hans India
AP partners with WEF for energy centre in Amaravati
Vijayawada: In a significant move to establish Andhra Pradesh as a global hub for innovation and sustainable development, the state government partnered with the World Economic Forum (WEF) to launch 'WEF-AP Centre for Energy and Cyber Resilience' in Amaravati. This initiative aligns with the government's ambitious 'Swarna Andhra Vision 2047'. A Government Order issued on Thursday formalized the establishment of this centre, which will operate under the WEF's global Centre for the Fourth Industrial Revolution (C4IR) Network. Notably, it will be India's first thematic C4IR centre and will focus on two critical areas: energy transition and green industries in collaboration with WEF's Centre for Energy and Materials (CENMAT) and AI-led digital transformation and cyber security, in partnership with WEF's Centre for Cyber Security. This initiative stems from high-level meetings with the WEF in Davos and is poised to position Amaravati as India's leading center for green energy, sustainability, and cyber security. The project is being spearheaded by Chief Minister N Chandrababu Naidu and IT Minister Nara Lokesh, with the overarching goal of enhancing AP's international profile and attracting significant investments in clean energy, Artificial Intelligence, and digital infrastructure. The centre's key objectives include elevating AP's global standing, fostering international partnerships, supporting the growth of green industries, enhancing cyber security capabilities, and running pilot projects in clean energy, smart grids, and the application of AI in sectors such as agriculture and governance. Furthermore, it aims at upskilling the workforce in cyber security and emerging technologies and connecting the state with prominent global platforms like the WEF's annual meeting at Davos. The state government has allocated Rs 36 crore to support the Centre's operations for three years. It will initially function from Vijayawada or Amaravati and will be governed by a high-level committee chaired by IT Minister Nara Lokesh.