Adani Acquires ₹820 Crore Stake in FSTC, Founded by Former Air Force Officer

Adani Group, through its defence and aerospace arm, has acquired about 73% of Flight Simulation Solutions (also known as Flight Simulation Technique Centre, FSTC) for ₹820 crore.

Times of India (TOI) reported the impending deal on November 24, 2025, ahead of the official announcement followed by Financial Express which published details of the acquisition on November 27, 2025, after Adani Enterprises’ exchange filing.

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Key details of the acquisition

• Stake & Value: Adani Defence Systems and Technologies Ltd. (ADSTL), along with Horizon Aero Solutions, purchased a 72.8–73% stake in Flight Simulation Solutions for ₹820 crore.
• Company Profile: Flight Simulation Solutions (FSTC) is India’s largest independent provider of flight training and simulation, operating:
  • Simulators: 11 advanced full-flight simulators
  • Training aircraft: 17 aircraft
• Services Offered: Commercial pilot licence training, type ratings, recurrent training, and specialised skill courses.
• Certifications: Certified by the Directorate General of Civil Aviation (DGCA) and the European Union Aviation Safety Agency (EASA).

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Strategic significance

• Aviation Expansion: Strengthens Adani’s footprint in civil and defence aviation training amid India’s rising pilot demand.
• Synergy with Defence: Complements Adani Defence’s aerospace portfolio by adding scaled pilot training capacity.
• Market Impact: Addresses India’s shortage of trained pilots through FSTC’s existing infrastructure.

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Risks & considerations

• Regulatory Oversight: Must maintain strict compliance with DGCA and international standards to ensure credibility.
• Competition: Global training providers may expand in India; pricing, quality, and scale are key differentiators.
• Integration Challenges: Operational and cultural integration within Adani’s defence and aerospace portfolio.

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Broader context

• Industry Trend: Conglomerates are entering aviation services as India becomes a top-three global aviation market.
• Ecosystem Play: The deal aligns with Adani’s airports and defence ventures, positioning it as a major aviation infrastructure player.

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About FSTC

Flight Simulation Technique Centre (FSTC), also known as Flight Simulation Solutions, was founded in 2011 by Dilawer Singh Basraon and Capt. Sanjay Mandavia.

 

Company Profile

• Founded: 2011
• Headquarters: Gurugram, Haryana, India
• Core Business: India’s largest independent provider of flight training and simulation services
• Facilities:
  • 11 advanced full‑flight simulators
  • 17 training aircraft
  • Training centres in Gurugram, Hyderabad, Bhiwani, and Narnaul
• Certifications: Approved by DGCA (India) and EASA (Europe)

Founder of FSTC

The founder of Flight Simulation Technique Centre (FSTC) is Dilawer Singh Basraon. 

Dilawer Singh Basraon

• Former Squadron Leader in the Indian Air Force
• Managing Director of FSTC
• Over 11,000 flying hours on Airbus A320/A330 aircraft
• More than 25 years of aviation experience
• Pioneered advanced flight simulation training in India
• Established multiple flying schools across Haryana
• Expanded into defence simulator services bridging civil and military aviation training

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Why This Matters

• The Basraon–Mandavia partnership combined military precision with commercial airline expertise.
• This dual perspective helped FSTC grow into India’s largest independent flight training provider.
• With Adani Group’s acquisition, the original promoters now hold a minority stake (~27%), while Adani Defence Systems controls the majority.

Summary

The founder of FSTC — Dilawer Singh Basraon and his military and commercial aviation expertise positioned FSTC as India’s leading independent flight training provider, now strategically aligned with Adani Group’s aviation ambitions.

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Growth & Investors

• Initial Funding: Supported by investors such as Xponentia Capital
• Scale: Ranked among the top aviation training providers in India, with ~65 employees as of 2023
• Revenue: Reported annual revenue of ₹18 lakh (FY 2023)

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Strategic Importance

• Civil Aviation: Addresses India’s pilot shortage with type ratings and recurrent training
• Defence Aviation: Provides simulator‑based training for military pilots
• Adani Acquisition: In November 2025, Adani Defence Systems acquired a 73% stake for ₹820 crore

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Summary

FSTC's largest independent flight training company. Its Gurugram HQ and multiple centres make it a critical hub for civil and defence pilot training, now strategically aligned with Adani Group’s aviation