Here’s a report on their rocket projects: India’s First Private Rocket Construction and Launch Initiatives for Space Education – Sept.9.2014 (pdf).
The 4.5 km is rescheduled to launch on 27 September 2014. Also in the coming months the team will have two rocket launch done with altitudes attaining 10 kms and 100 kms with a 500 gms of payload. These two tests in next month’s will be formally offered for all the young space researchers.
These are among the first Indian high altitude rockets developed outside of government programs.
Here are a couple photos: