He added that 28 entities have expressed interest in collaborating with HAL on the 5th-generation fighter jet program, and the PSU plans to finalise its partners within the next 30 days.
Speaking to CNBC-TV18, Sunil pointed out the capabilities of the Tejas MK 1A, describing it as a highly capable 4.5-generation fighter jet equipped to fire beyond-visual-range missiles and laser-guided bombs. A key USP of the aircraft, he said, is that its design, software, hardware, and manufacturing are entirely domestic.
HAL expects to deliver one Tejas MK 1A this month and a total of three jets by the end of October.
The company has invested nearly ₹2,000 crore to create production capacity across three lines. With the private sector establishing a fourth line, HAL aims to raise production to 30 jets annually by 2027.
Currently, 10 Tejas MK 1A jets are on the flight line and slated for delivery this year.
On engine supply, HAL has already received three GE engines and expects nine more within this fiscal. GE is projected to deliver 20 engines next year, which will enable HAL to produce more than 12 aircraft annually from 2026 onwards.
Financial negotiations for the additional 113 engines from GE have already been concluded, and the contract is set to be signed by the end of October.
Total orders for the Tejas now stand at 180, with HAL planning to complete deliveries by FY32.
Regarding future programs, Sunil confirmed HAL’s participation in the Advanced Medium Combat Aircraft (AMCA) program and noted strong interest from 28 entities keen to collaborate. The company has set up a committee to screen applications and expects to finalise partnerships before October’s end.
The Ministry of Defence on Thursday signed a ₹62,370-crore deal with HAL for the procurement of 97 Light Combat Aircraft. Deliveries are scheduled to begin in 2027-28 and are expected to be completed over six years.
Morgan Stanley has given the stock an 'Equal Weight' rating with a target price of ₹5,092, while Nomura maintains a 'Buy' rating with a target price of ₹6,100.
Shares of Hindustan Aeronautics Ltd. closed 1.10% higher on Thursday at ₹4,776.
