Kathmandu — Listed dronetech company DroneAcharya Aerial Innovations Limited has bagged an INR 46.25 lakh (approximately NPR 7.36 million) project from consulting firm Ernst & Young (EY) to focus on advanced drone training in Nepal under the World Bank’s ‘Nepal Drone Ecosystem Acceleration Program.’

The six-month project aims to accelerate the adoption of drone technology in Nepal for critical applications such as infrastructure development, disaster management, security, and precision agriculture. EY secured the contract from the World Bank and subsequently subcontracted the project to its consortium partners, including DroneAcharya and IIT Ropar.

“This collaboration combines expertise in consultancy, academia, and technical training to drive a comprehensive program focused on ecosystem analysis, gap identification, model development, and advanced drone training,” DroneAcharya stated in an exchange filing.

The development comes shortly after DroneAcharya received the Directorate General of Civil Aviation’s (DGCA) type certification for its multipurpose drone, AgriVeer. The company has also secured multiple new contracts this year, including projects from the Indian Army, the Ministry of Defence, and Tata Communications.

In January 2025, DroneAcharya announced a strategic merger with AITMC Ventures. Founder and CEO Prateek Srivastava commented that the merger would act as a “force multiplier” for both companies and position the merged entity as a leader in India’s burgeoning drone technology sector. Post-merger, the company plans to target a mainboard listing.

However, despite these positive developments, DroneAcharya’s shares have been on a downward trend, falling over 40% since January. The stock hit an all-time low of INR 66 on March 3, before closing 4.99% lower at INR 70.95 on the BSE on March 10.