Adani Group plans FSTC acquisition for defence, aviation training push: Report

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Adani Group’s push into defence and aerospace may soon expand into aviation training, with the conglomerate weighing a buyout of Flight Simulation Technique Centre (FSTC), according to people aware of the matter as reported by The Times of India.

The move, if completed, would mark the group’s first step into the pilot-training segment and add to its growing list of acquisitions.

FSTC, which began operations in 2012, operates four simulator centres spread across Gurugram, Hyderabad and Mumbai, and additionally runs four flying academies in Haryana, Surat and Solapur. Its clients span commercial airlines as well as the Indian armed forces.

When contacted about the potential transaction, co-founder and MD Dilawer Singh Basraon responded with, “You are giving me shocking news. I’m boarding a flight. I’m going on a holiday," the report said.

According to the report, the deal is expected to be channelled through Horizon Aero Solutions, the 50:50 partnership between Adani Defence Systems and Technologies (ADST) and Prime Aero.

ADST sits under Adani Enterprises, while Prime Aero belongs to Prajay Patel, son of Nationalist Congress Party leader Praful Patel. An Adani spokesperson did not respond to a query, said the report.

ADST has been expanding both through fresh investments and strategic takeovers. In December 2024, it secured a controlling stake in Air Works, giving it an entry into the MRO space. This was followed by acquiring half of Indamer Technics, with the other half already held by Prime Aero. Defence and aerospace remain high-priority areas for the group, which has put in about Rs 5,000 crore so far and intends to triple that figure soon.

The possible acquisition of FSTC could allow ADST to tap into the rising requirement for trained cockpit crew. Airlines and defence forces are mandated to put pilots through specific hours of simulator training, and demand is increasing amid geopolitical friction, higher defence spending and a need for more advanced flying skills.

ADST already supplies drones, loitering munitions and other military systems to the defence ministry, including equipment deployed during Operation Sindoor, the brief conflict between India and Pakistan in May.

Financially, FSTC generated an operating profit of Rs 124.2 crore on revenue of Rs 214.5 crore in FY24, compared with Rs 96.4 crore and Rs 165.1 crore the previous year. A note from India Ratings and Research in November 2024 pointed to revenue gains driven by continuous additions to its simulator and training-aircraft fleet, funded partly through borrowings.

Other players in the pilot-training landscape include CAE Simulation Training -- a joint venture between Canada’s CAE and InterGlobe Enterprises -- which mainly serves Indigo and Akasa, and the IPO-bound Flywings Simulator Training Centre. CAE predicted in August 2025 that India would need 20,000 new professional pilots over the next decade, with 98,000 required across the wider Asia-Pacific.