New Delhi: Drone company Drone Destination on Monday said it has signed an agreement with cooperative major IFFCO for spraying agricultural products on up to 30 lakh acres of farm land.
According to company officials, under the agreement Drone Destination could get paid in the range of Rs 400 to Rs 800 per acre at prevailing market rates, implying that the deal will fetch a revenue of Rs 120 crore in the lower price band and up to Rs 240 at upper price band.
"We have secured a mandate for agri spray over 30 lakh acres. The prevailing market rate of such agri spray is in the range of Rs 400-800 per acre depending upon the region and the crop," Drone Destination Managing Director and CEO Chirag Sharma said.
As part of the agreement, Drone Destination will undertake drone spray in 12 states across the country. These states include Andhra Pradesh, Bihar, Gujarat, Haryana, Karnataka, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Telangana, Uttar Pradesh, Uttrakhand.
"We are elated to partner with the world's top cooperative IFFCO for transforming Indian agriculture. Drones have a wide range of applications and their influence on agriculture, which is basic to human survival, is revolutionary. Drones will bring efficiency, scalability, cost competitiveness, and speed to agricultural practices in India, enabling the sector to increase its contribution to GDP," Drone Destination Chairman Alok Sharma said.
The drones will spray IFFCO Nano Urea, Nano DAP, Sagarika, IFFCO MC Agro-Chemicals and other IFFCO and IFFCO joint venture's agri products, with the aim of enhancing agricultural productivity and efficiency.
Other benefits under the agreement include opportunities for sale of IFFCO agri-inputs and products for drone spray, the statement said.
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