Singapore’s Thakral Corp to manufacture drone components in India

Singapore, Aug 14 (PTI) Singapore-listed Thakral Corp Ltd is expanding its B2B arm, Bharat Skytech, to produce and supply drone components to manufacturers in India, Group CEO and Executive Director Inderbethal Singh Thakral (Bethal) has said.

“We continue to see strong potential in South Asia’s drone sector. Through Bharat Skytech, we’re supporting India’s manufacturing ecosystem while positioning ourselves to benefit from rising regional demand, Bethal said on Wednesday.

“Our investment in Skylark Drones complements this, giving us access to scalable enterprise solutions across key industries,” he said in the financial report for first half of this year ended June 30, 2025.

Further, the group is exploring opportunities for manufacturing enterprise-grade and other drones in India. It has been actively focusing on Chinese-origin DJI’s expanded range of audio-visual products such as digital action cameras, gimbals and related accessories, the company said.

These products have gained significant momentum in India, securing bestseller spots on the country’s biggest e-commerce platforms, Amazon India and Flipkart, said Thakral Corp. The group also holds a 23 per cccent stake in Skylark Drones, a leading Indian drone-tech firm providing end-to-end, drone-agnostic solutions for enterprise drones. Their clients include notable Fortune 500 companies.

The Singapore-based Indian origin group also highlighted the growing adoption of drones in markets such as Sri Lanka and Bangladesh, particularly in agriculture and enterprise use, presents further upside.

“We remain focused on expanding our retail footprint in Greater China and building Nespresso’s presence in India following the successful launch of our first boutique,” Bethal underscored.

Earlier this year, the group launched India’s first Nespresso boutique (coffee) at the Select Citywalk mall in New Delhi, followed by the brand’s debut on Amazon India.

Building on this, the group’s current expansion plans include additional retail stores and a broader footprint in B2B distribution, it said.

Despite external pressures, India’s economy continues to demonstrate resilience, noted Thakral Corp in the report. India recently became the world’s fourth-largest economy and is expected to become the third largest by 2028.

With strategic investments in both real estate and lifestyle, the group said it is well positioned to capture this growth.

The group is progressing on its 21-acre healthcare and mixed-use development in Gurugram, a prime real estate hub adjacent to New Delhi. As one of India’s fastest-growing affluent cities, Gurugram offers a compelling landscape with a high demand for premium real estate and world-class healthcare infrastructure, it said.

Bethal added: “We also see meaningful long-term value in India. Our plans on development of the Gurugram land are progressing well and the land is strategically located in one of the country’s most dynamic real estate corridors.

“As India’s economy continues to expand, this investment has the potential to become a significant contributor to the Group’s future growth,” he said.

The group’s 1H2025 revenue rose 25 per cent year-on-year (yoy) to SGD160.5 million and recorded the highest ever net profit attributable to shareholders of SGD109.3 million. The board has declared an interim dividend of 2 Singapore cents per share.

The group reported strong lifestyle business, saying demand continued in China for its beauty and fragrance products. The group currently manages 65 retail stores in Greater China and India, including 27 stores from its latest portfolio addition, skin care brand Yuesai.

In Australia, the group’s GemLife Communities launched its IPO on the ASX on July 3, 2025, raising AUD750 million with a market capitalisation of approximately AUD1.58 billion, making it the largest IPO in Australia so far in 2025.

The group also reported strong demand for its Japanese properties. In 1H2025, Osaka’s office market saw strong momentum, led by robust rental growth in Grade A assets and tightening vacancies across all segments, reflecting solid tenancy demand amid limited supply.

Average occupancy across Thakral’s six commercial buildings in Osaka came in at about 98 per cent leading to stable profits. The group is also expanding its beauty and fragrance products business in Greater China, with plans to open new retail stores for its portfolio of brands in 2025.

The Beauty Tech Group has made progress since our last update, including continued discussions around a potential IPO. While the process remains underway, the business continues to perform well. PTI GS RHL