DroneAcharya Bags INR 46 Lakh Contract For World Bank's Drone Initiative For Nepal

SUMMARY

DroneAcharya has secured a contract worth INR 46.25 Lakh from EY to participate in the World Bank-sponsored "Nepal drone ecosystem acceleration program"

The initiative aims to accelerate Nepal's adoption of drone technology for applications like infrastructure development, disaster management, and precision agriculture

This comes amid other positive developments for DroneAcharya including DGCA certification for its AgriVeer drone and an upcoming merger with AITMC Ventures

Listed dronetech company DroneAcharya has bagged an INR 46.25 Lakh project from consulting firm EY to focus on advanced drone training in Nepal under a six-month project called “Nepal drone ecosystem acceleration program”.

The project, which was floated by the World Bank, aims to accelerate the adoption of drone technology in Nepal for critical applications such as infrastructure development, disaster management, security, and precision agriculture, DroneAcharya said in an exchange filing.

The dronetech company said that consultancy firm EY secured the contract from the World Bank and subsequently subcontracted the project to its consortium partners. Besides DroneAcharya, the firm has also partnered with IIT Ropar for the project.

“This collaboration combines expertise in consultancy, academia, and technical training to drive a comprehensive program focused on ecosystem analysis, gap identification, model development, and advanced drone training,” DroneAcharya said.

The development comes less than two weeks after DroneAcharya received the Directorate General of Civil Aviation’s (DGCA) type certification for its multipurpose drone, AgriVeer.

The company has also bagged multiple new contracts in the ongoing calendar year. In January, it secured new contracts from the Indian Army, defence ministry, and Tata Communications.

These developments come in the run up to the proposed merger of the BSE-SME listed company with AITMC Ventures. The companies signed a signed term sheet for a ‘strategic company merger’ in January 2025.

Back then, DroneAcharya’s founder and CEO Prateek Srivastava said that the merger will act as a “force multiplier” for both the companies and make the resultant entity a leader in India’s burgeoning drone tech space. Post the merger, the new entity will eye a mainboard listing in the near future.

Despite largely positive developments in recent times, the company’s shares have been on a downward trajectory for some time now amid the fall in the broader market. Since January, DroneAcharya’s shares have tanked over 40%, hitting a fresh all-time low of INR 66 on March 3.

Shares of the company ended Monday’s (March 10) trading session 4.99% lower at INR 70.95 on the BSE.