Hindustan Aeronautics Limited (HAL) was initially established as Hindustan Aircrafts by Seth Walchand Hirachand in 1940 at Bangalore. In October 1964, the Government of India merged Hindustan Aircraft Ltd. (1940) with Aeronautics india Ltd., and Aircraft Manufacturing Depot, Kanpur to form Hindustan Aeronautics Limited (HAL), the name by which company is known today. HAL is now Asia's One of the Largest Aeronautics Company with Annual Turnover of US$ 2 billion. About 40% of the revenue generated by HAL comes from abroad through the manufacturing of aircraft engines, spare parts and other aircraft materials. HAL was conferred the status of NAVRATNA status by the Government of India on 22nd June 2007.