Agencies & public sector
NewSpace India Limited
ISRO's commercial arm, a Department of Space PSU incorporated in 2019 that sells PSLV, SSLV and LVM3 launches and reported ₹3,026.09 crore revenue in FY25.
NewSpace India Limited is the commercial arm of the Indian Space Research Organisation, incorporated on 6 March 2019 under the Companies Act, 2013 and placed under the administrative control of the Department of Space. ISRO describes its remit as enabling Indian industries to take up high technology space related activities, and the promotion and commercial exploitation of the products and services emanating from the Indian space programme. Its authorised business areas cover production of the Polar Satellite Launch Vehicle and the Small Satellite Launch Vehicle through industry, launch services and space-based applications such as transponder leasing and remote sensing, building communication and Earth observation satellites to user requirements, transfer of technology developed by ISRO centres, marketing of spin-off technologies, and consultancy. The company works from the ISRO headquarters campus on New BEL Road in Bengaluru.
Answering the Lok Sabha on 26 March 2025, Minister of State Jitendra Singh reported NSIL revenue of ₹3,026.09 crore in FY25 against ₹2,116.12 crore in FY24, a rise of 43 per cent, with profit before tax of ₹1,242.12 crore against ₹803.59 crore, up 54 per cent. By that date the company had launched 135 international customer satellites and three Indian satellites on a commercial basis. Its own website records the LVM3-M6/BlueBird Block-2 mission as accomplished on 24 December 2025. The union budget for 2026-27 allocated NewSpace India Limited ₹1,403 crore, against ₹1,030 crore the previous year.
NSIL is the vehicle through which ISRO hardware is being handed to private manufacturers. It contracted a Hindustan Aeronautics Limited and Larsen & Toubro consortium in 2022, under an ₹860-crore contract, to build five PSLV-XL rockets, and in September 2025 signed a Small Satellite Launch Vehicle technology transfer agreement with HAL alongside ISRO and IN-SPACe, which ISRO said paves the way for the commercialisation of SSLV. Unnamed NSIL officials told ETV Bharat in December 2025 that the company wants more than 60 LVM3 heavy-lift vehicles built through Indian industry, 15 SSLVs in three years, and a first industrial PSLV batch running from PSLV-N1 to PSLV-N5, alongside four-year plans for 60 transponders of 36 MHz bent-pipe capacity and 150 Gbps of high-throughput capacity.
Delivery has lagged those plans. The first fully industry-built PSLV was described in February 2025 as a second-quarter target for that year, then moved to the first quarter of 2026 after stacking began in December 2025; IndianWeb2 reported on 17 August 2026 that PSLV-N1 had slipped to March 2027, with no reason disclosed by NSIL, ISRO, HAL or Larsen & Toubro and no confirmation from ISRO's press office. GSAT-N3, the S-band demand-driven satellite NSIL said in February 2025 it would fly in the first quarter of 2026, was still carried as a planned second-quarter 2026 LVM3 mission when this profile was compiled. And in November 2024 NSIL bought a SpaceX Falcon 9 for its own 4,700 kg GSAT-N2 satellite, under a contract signed on 2 January 2024, because LVM3 is capped at about 4,000 kg.
What they build and operate
- PSLV launch services · Service · Operational
Commercial Polar Satellite Launch Vehicle missions; NSIL contracted a HAL and Larsen & Toubro consortium in 2022 under an ₹860-crore deal for five PSLV-XL rockets built end to end by industry.[1][11] - SSLV · Launch vehicle · Operational
Small Satellite Launch Vehicle marketed for quick-turnaround dedicated missions from Sriharikota and Kulasekarapattinam; its technology was transferred to Hindustan Aeronautics Limited in September 2025 under an agreement with ISRO and IN-SPACe.[9][1] - LVM3 launch services · Service · Operational
Heavy-lift commercial missions; NSIL's site records LVM3-M6/BlueBird Block-2 as accomplished on 24 December 2025, and the company is pursuing LVM3 production through Indian industry in public-private partnership mode.[2][6] - GSAT-N2 · Satellite · Operational
Demand-driven communications satellite of 4,700 kg with 32 user beams and about 48 Gbps of throughput, launched by a SpaceX Falcon 9 on 18 November 2024 and designed for 14 years in geostationary orbit.[8] - GSAT-N3 · Satellite · In development
S-band demand-driven communications satellite of about 4,000 kg, also designated GSAT-32, announced for the first quarter of 2026 and still carried as a planned second-quarter 2026 LVM3 mission.[6][5]
Milestones
- 06 March 2019
NewSpace India Limited was incorporated under the Companies Act, 2013 as a public sector undertaking under the Department of Space.[1][4] - 2022
Contracted a Hindustan Aeronautics Limited and Larsen & Toubro consortium under an ₹860-crore deal to build five PSLV-XL rockets.[11] - 26 March 2023
Deployed another set of 36 OneWeb satellites to low Earth orbit.[4] - January 2024
Signed a memorandum of understanding with Arianespace for long-term satellite launch collaboration.[4] - 18 November 2024
GSAT-N2, at 4,700 kg, launched on a SpaceX Falcon 9 from Cape Canaveral because LVM3 is capped at about 4,000 kg — the first SpaceX launch of an Indian payload.[8] - 26 March 2025
Parliament was told NSIL revenue reached ₹3,026.09 crore in FY25, up 43 per cent, with profit before tax of ₹1,242.12 crore, up 54 per cent.[7] - September 2025
Signed an SSLV technology transfer agreement with Hindustan Aeronautics Limited alongside ISRO and IN-SPACe.[9] - 24 December 2025
The LVM3-M6/BlueBird Block-2 mission was accomplished, per NSIL's own website.[2] - 17 August 2026
The first industry-built PSLV, PSLV-N1, was reported to have slipped to March 2027 from a first-quarter 2026 target, with no reason disclosed and no ISRO press-office confirmation.[11]
Facilities
- Registered office · ISRO HQ Campus, New BEL Road, Bengaluru, Karnataka, India
NSIL's registered office, on the ISRO headquarters campus.[1][4] - GIFT City office · GIFT City, Gujarat, India
Facility inaugurated in February 2026, where NSIL signed a satellite data reselling contract with GalaxEye.[4]
Leadership
- Radha Krishna A
Director (Finance); registry-derived filings record him as a whole-time director appointed on 6 May 2024 (as of 06 May 2024)[3][13] - Shankari Murali
Part-time government nominee director, appointed 3 June 2025; Joint Secretary and Financial Adviser, Department of Space (as of 03 June 2025)[3][13] - Vivek Kumar Singh
Part-time government nominee director, appointed 27 January 2025; Senior Adviser, Science and Technology, NITI Aayog (as of 27 January 2025)[3][13]
Sources
ISRONewSpace India Limited (NSIL)isro.gov.in
NSILWelcome to NSILnsilindia.co.in
NSILLeadershipnsilindia.co.in
WikipediaNewSpace India Limiteden.wikipedia.org
WikipediaGSAT-32en.wikipedia.org
ProkeralaNSIL to launch India's first fully industry-made PSLV in Q2 this yearprokerala.com
ProkeralaISRO's commercial arm NSIL reports 43 pc revenue growth in FY25, PBT up 54 pcprokerala.com
Spaceflight NowSpaceX launches India's GSAT-N2 satellite on Falcon 9 rocket from Cape Canaveralspaceflightnow.com
NewsOnAirNSIL, ISRO, IN-SPACe and HAL ink pact for SSLV technology transfernewsonair.gov.in
ETV BharatIndia's Space Push: NSIL Lines Up Big Rocket Production, New Satellites and GSaaS Model for Global Marketetvbharat.com
IndianWeb2HAL-L&T's First PSLV Slips to March 2027indianweb2.com
Business TodayBudget 2026: ISRO sees modest funding hike for 2026-27 as Department of Space gets Rs 13,705 crorebusinesstoday.in
The Company CheckExplore Newspace India Limited Directors & Contactsthecompanycheck.com
Coverage of NewSpace India Limited
Space policy
ISRO plans gradual transfer of mature rocket manufacturing to industry
PSLV and LVM3 transfer calls were already limited to private Indian entities. The change concerns who builds and commercialises mature vehicles, not an immediate end to ISRO missions or government launch work.
Launch industry
Industry-built PSLV targets March 2027 launch
The reported date is at least nine months later than a Q1 2026 target disclosed to Parliament, although first-stage stacking began in December. No reviewed source gives a cause.
Launch analysis
What the PSLV-C62 anomaly review needs to answer
ISRO has located the mission anomaly near the end of the third stage and begun a detailed analysis. Until that work is published, the evidence supports questions—not conclusions.
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