ISRO arm eyes business order worth $100-150 million
The Economic Times
Business in the skies is picking up, at least for Indian space agencies with Antrix Corporation, the commercial arm of the Indian Space Research Organisation (ISRO) chasing contracts worth $100-150 million back here on earth, this year.
Demand remains high for its low-cost space solutions not only from the US and Europe, but from emerging countries like Algeria, Chile, Brazil, Argentina, Kazakhstan and Middle East.
â€œWe hope to clock 8% growth and touch revenue of Rs 1,000 crore. We have a backlog of orders worth Rs 3,000 crore which will be completed in the next 3-4 years,â€ Antrix managing director, KR Sridhara Murthy, told ET. Antrixâ€™s revenue for 2007-08 was Rs 940 crore. â€œWe are in discussions with customers for satellite contracts,â€ he added.
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