Mumbai: Adani Group’s defence and aerospace unit is considering an acquisition of Flight Simulation Technique Centre (FSTC), India’s leading non-captive pilot training firm, people familiar with the matter said. If the deal goes through, it will mark the group’s entry into the aviation training business and ramp up its M&A portfolio.Established in 2012, FSTC has four simulator facilities in Gurugram, Hyderabad, and Mumbai, as well as four flying schools in Haryana, Surat, and Solapur, as listed on its website.The proposed FSTC transaction is expected to be routed through Horizon Aero Solutions, a 50:50 joint venture between Adani Defence Systems and Technologies (ADST) and Prime Aero. ADST is a wholly-owned subsidiary of group flagship Adani Enterprises, while Prime Aero is owned by Prajay Patel, son of Nationalist Congress Party leader Praful Patel.
ADST has been building its business both organically and through acquisitions. In Dec 2024, it acquired controlling interest in Air Works, which enabled its foray into aircraft maintenance, repair, and overhaul (MRO) business. It then furthered its presence with a 50% share purchase in Indamer Technics (the remaining 50% is held by Prime Aero).Defence and aerospace is a strategically important sector for the Adani Group, with plans to triple its investment in the near future. Currently, the group has invested Rs 5,000 crore in the sector.The potential FSTC deal will allow ADST to capitalise on the growing demand for cockpit crew, who are mandated to undergo a minimum number of flight simulation hours for training. Demand for military pilots is increasing due to rising geopolitical tensions, higher defence spends, and need for advanced skills.ADST has been supplying drones, loitering munitions, and other warfare systems to India’s defence ministry, which were used during Operation Sindoor, a four-day conflict between India and Pakistan in May of this year.FSTC’s clientele includes Indian defence forces and commercial airlines. “You are giving me shocking news. I’m boarding a flight. I’m going on a holiday,” said FSTC co-founder and MD Dilawer Singh Basraon, when reached on his cell phone. An Adani Group spokesperson declined to comment on TOI’s email query.In FY24, FSTC reported an operating profit of Rs 124.2 crore on a revenue of Rs 214.5 crore. A Nov 2024 note by India Ratings and Research highlighted that FSTC’s revenue growth has been fueled by ongoing investments in expanding its fleet of simulators and training aircraft, funded through a mix of resources including loans. In FY23, its operating profit and revenue were Rs 96.4 crore and Rs 165.1 crore, respectively.Apart from FSTC, CAE Simulation Training, a 50:50 joint venture between Canada’s CAE and InterGlobe Enterprises, also provides pilot training. Its main customers are Indigo (owned by InterGlobe) and Akasa. Additionally, there is the IPO-bound Flywings Simulator Training Centre. In Aug 2025, CAE, while announcing a new pilot training centre in Mumbai, predicted a demand for 20,000 new professional pilots in India over the next 10 years, with the Asia Pacific region requiring 98,000 pilots during the same period.
