HMT revival plan likely to focus on self-reliance in new-age manufacturing for ISRO

New Delhi: The proposed revival plan for public sector Hindustan Machine Tools is likely to focus on self-reliance in new age manufacturing with the government identifying development of capital goods manufacturing for the space technologies sector to meet requirements of Indian Space Research Organisation (ISRO), officials said.

The plan could include a mix of land sale or leasing in the loss-making enterprise and some relief from existing loans and payment of workers' dues, they said.

HMT currently has the second largest land bank in the country after the Indian Railways.


The miniratna once held close to 1,800 acres of land, of 1,100 acres are still with HMT across Hyderabad (Telangana), Bengaluru (Karnataka), Pinjore (Haryana) and Kalamassery (Kerala).

These land banks were 'gifted' by the respective state governments to HMT over the years in anticipation that it would bring in more industries.

The Central Manufacturing Technology Institute (CMTI) under the ministry of heavy industries is said to be developing based on a report by Niti Aayog.

HMT's loss for the quarter ending December 2025 stood at ₹27.24 crore. For the fiscal 2024-25, consolidated net loss was ₹143.06 crore. According to the company's annual report for 2024-25, HMT has outstanding liabilities worth ₹990.11 crore.

Union Heavy Industries Minister H D Kumaraswamy said last week that a detailed project report for HMT's revival "is in its final stages and implementation will begin after consultations with stakeholders."

"The localisation of machine tools, which are fundamental for modern manufacturing processes, will be a priority," a senior official told ET, adding recent geopolitics where countries curbed access to raw materials and technologies has given a fillip for developing domestic capabilities.

"HMT will be given the responsibility of manufacturing niche and high value capital goods," the official added.

An inter-ministerial panel reviewed the working of this public sector undertaking in September 2025.