Singapore’s Thakral Corp Bets Big on India’s Drone Boom

Thakral Corp Ltd, a Singapore-listed conglomerate, is diving deeper into India’s booming drone industry by expanding its B2B arm, Bharat Skytech, to manufacture and supply drone components locally, announced Group CEO Inderbethal Singh Thakral on Wednesday.

“We see immense potential in South Asia’s drone market,” said Thakral. “Bharat Skytech strengthens India’s manufacturing ecosystem while positioning us to meet growing regional demand.” The company is also leveraging its 23% stake in Skylark Drones, an Indian drone-tech leader, to offer cutting-edge, enterprise-grade drone solutions to clients, including Fortune 500 companies.

Thakral Corp is capitalizing on India’s “Make in India” initiative, exploring opportunities to produce enterprise-grade drones and expanding its distribution of DJI’s audio-visual products, such as action cameras and gimbals. These products have become top sellers on India’s major e-commerce platforms, Amazon India and Flipkart, reflecting strong market traction. The company also sees growing drone adoption in Sri Lanka and Bangladesh, particularly in agriculture and enterprise applications.

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Beyond drones, Thakral Corp is broadening its footprint in India’s lifestyle sector. The group launched India’s first Nespresso boutique at New Delhi’s Select Citywalk mall earlier this year and has since expanded the brand’s presence on Amazon India. Plans are underway to open more retail stores and strengthen B2B distribution channels for Nespresso in India.

India’s resilient economy, now the world’s fourth-largest and projected to be the third-largest by 2028, underpins Thakral’s optimism. The group is also advancing a 21-acre healthcare and mixed-use development in Gurugram, a fast-growing hub near New Delhi with high demand for premium real estate and healthcare infrastructure. “Our Gurugram project is strategically located in one of India’s most dynamic real estate corridors,” Thakral noted, highlighting its potential to drive significant future growth.

Financially, Thakral Corp reported a stellar first half of 2025, with revenue soaring 25% year-on-year to SGD160.5 million and a record-breaking net profit of SGD109.3 million. The board declared an interim dividend of 2 Singapore cents per share. The lifestyle division, including beauty and fragrance brands, remained robust, with 65 retail stores across Greater China and India, bolstered by the addition of skincare brand Yuesai.

In Australia, Thakral’s GemLife Communities, catering to the over-50s demographic, launched a blockbuster IPO on the ASX on July 3, 2025, raising AUD750 million with a market capitalization of AUD1.58 billion, marking Australia’s largest IPO of the year. In Japan, Thakral’s six commercial properties in Osaka maintained a 98% occupancy rate, driven by strong demand and limited supply in the office market.

The company’s Beauty Tech Group is also progressing toward a potential IPO, with its performance remaining strong. Thakral’s diversified portfolio, spanning drones, real estate, and lifestyle, positions it to capitalize on growth opportunities across multiple markets. “We’re at a pivotal moment,” Thakral said, emphasizing the company’s commitment to innovation and long-term value creation.

As India’s drone sector continues to soar, Thakral Corp’s strategic investments in Bharat Skytech and Skylark Drones signal its ambition to lead in this high-growth industry while cementing its presence in one of the world’s most dynamic economies.

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