Bharatiya Antariksh Station
India's own five-module, 52-tonne crewed station at ~400 km, approved by the Union Cabinet in September 2024 as an extension of Gaganyaan, with the first module BAS-01 targeted for 2028.
Funding & Contract Structure
Total committed: ₹20,193 crore enhanced Gaganyaan envelope (Sep 2024 Cabinet decision) covers Gaganyaan + BAS precursors + BAS-01; no separate BAS-only budget published
Annual run-rate: Implied BAS-01 run-rate ≈ ₹440 crore/yr (₹1,763 crore over 2025-2028)
Procurement vehicle: MIXED — Combination of vehicles across program phases.
Congressional status: Cabinet-sanctioned (18 Sept 2024); modules 2-5 and the 2035 completion date have no approved funding
Beneficiary Breakdown
| Contractor | Role | Share | Ticker |
|---|---|---|---|
| ISRO / VSSC | prime | BAS-01 design authority and structural realisation lead[0] | private |
| Hindustan Aeronautics Limited | sub | Long-standing Gaganyaan/LVM3 structural supplier expected to compete for BAS-01 hardware[0] | NSE:HAL |
Key Milestones
Union Cabinet approves BAS-01, outlay raised to ₹20,193 crore (18 Sept)
VSSC Expression of Interest for BAS-01 structure closes (8 March)
Gaganyaan G1 uncrewed flight — indicated slipping to Q3
BAS-01 launch plus four technology demonstration missions
Full five-module station operational
Catalysts
| Date | Event | Sentiment |
|---|---|---|
| Union Cabinet approval with a real money envelope — BAS becomes a funded line[0] | bullish | |
| ISRO chairman indicates Gaganyaan G1 may slip to Q3 2027[1] | bearish |
Risk Register
Competitive Landscape
Investability Map
| Ticker | Exposure | Note |
|---|---|---|
| NSE:HAL | low | Long-standing ISRO structural/propulsion supplier; no BAS-01 contract awarded yet |
Not investment advice. Figures as-quoted from cited sources.
Sources
- [0] Government of India PIB — Bharatiya Antariksh Station (Agency budget doc, accessed )
- [1] PIB Press Note — From Lunar Exploration to a National Space Station (Agency budget doc, accessed )