Paras Defence forms a strategic joint venture with HevenDrones to introduce India’s first hydrogen-powered drones, focusing on defence and homeland security.
The share price of Paras Defence and Space Technologies gained attention on May 6 following its announcement of a strategic joint venture with Heven, a leading global innovator in drone technology.
Paras Defence, known for its advanced optics and optronic systems, has partnered with HevenDrones Israel, a subsidiary of US-based Heven. The latter is globally recognised for developing autonomous, hydrogen-powered, mission-specific drones.
This joint venture will establish a new entity in India to design, manufacture, and supply next-generation drone systems. These systems will primarily serve India’s defence and homeland security needs, with plans to tap global markets over the long term.
The JV will be the exclusive platform bringing hydrogen-powered drone technology to India. These drones, designed for high endurance and modular payload capability, will be entirely developed and deployed from Indian soil.
The hydrogen-powered drones are expected to play a critical role in applications such as:
The JV’s offering will be among the first of its kind in India to deliver ready-to-fly hydrogen drone solutions tailored to military-grade requirements.
Heven has gained global prominence for its next-generation unmanned aerial systems (UAS), designed for high-end logistics and security use cases. This venture leverages Heven’s validated technology, now being indigenised through Paras Defence’s manufacturing capabilities.
Paras Defence itself continues to show strong growth. The company reported nearly double the year-on-year net profit for FY25, with revenue up by 35.8% and EBITDA margins expanding to 26.2%. It also announced its first stock split and dividend, backed by a healthy order book exceeding ₹9 billion.
The JV will manufacture HevenDrones’ complete portfolio of unmanned systems, focusing initially on military-grade applications. The sourcing strategy includes:
With validated systems already in place, the venture is ready to demonstrate and deliver these drones immediately. The initial focus will be on India’s defence and homeland security sectors, with export opportunities to be explored after establishing a strong domestic foundation.
Disclaimer: The article is for informational purposes only and not investment advice.
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