Shares of this Drone service and training company clocked 5 percent upper circuit in Tuesday’s trading session after joining hands with Drone Soccer Association India to introduce Drone Soccer in India.
With a market capitalization of Rs. 649 crores, the shares of Drone Destination Ltd started Tuesday’s trading session on a higher note at Rs. 266 compared to its previous close of Rs. 254.55. During the trading session, the shares locked 5 percent upper circuit at Rs. 267.25 apiece.
Such a bullish movement in the share price was observed after the company in an exchange filing announced that they had joined hands with Drone Soccer Association India (DSAI), and received exclusive training, sales and marketing rights to proliferate Drone Soccer adoption in India.
Furthermore, Drone Soccer made its official debut in India. Combining aerial robotics with the competitive spirit of soccer, this innovative sport promises to revolutionize the landscape of recreational and professional gaming alike.
With its fast-paced gameplay and accessibility, Drone Soccer is a new hybrid sport that appeals to a wide spectrum of age groups (6 years to 75 years), including both seasoned gamers and newcomers.
The Federation of International Drone Soccer Associations (FIDA), akin to FIFA in traditional soccer, is the leading global authority for advancing Drone Soccer worldwide.
With over 20 member countries, FIDA promotes and regulates Drone Soccer across continents and is set to host the inaugural Drone Soccer World Cup in 2025 in Korea.
In India, the Drone Soccer Association India (DSAI) is a key founding member of FIDA, responsible for governing and organizing drone soccer activities nationally and internationally, including leagues, tournaments, and team selection for the upcoming World Cup. DSAI will also send India’s first team to the Drone Soccer World Cup in Korea in 2025.
Moreover, This association marks Drone Destination’s foray into Drone sports and the company shall be responsible for conducting various training programs for Drone Soccer and setting up Drone Soccer arenas and academies in the country, along with marketing and sales of drone soccer equipment.
Coming onto the company’s financial statements, revenue was increased by 371 percent from Rs. 2.56 crores during FY 21-22 to 12.07 crores in FY 22-23. In addition, the net profit magnified by 1,933 percent from Rs. 21 lakhs to 2.44 crores during the same time frame.
The company aims to open over 150 Drone Hubs across India within the next three years, offering services such as drone rentals, certified pilots, enterprise solutions, repair and maintenance support, and specialized training.
Headquartered in New Delhi, The Drone Destination Ltd is a sister company of Hubblefly Technologies. The company is a DGCA-approved manufacturer and Remote Pilot Training Organization that has developed an integrated drone eco-system built around drone manufacturing, certified training, services, and renting a drone.
Written By Vaibhav Patil
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