what spacex does is more complex but cheaper , my understanding is , they recover whole booster stage + their rocket can land itself upright on a moving sea platform . parachute thing looks less complex but then ull have to discard everything except engine.
honestly looks like a shell company at this point . no pictures of their offices or actual engine . probably a scam to collect 1000 rs
check out their about page
"Space is the most exciting frontier of aerospace and Urvyam is building next generation space engine and vehicles for launching Satellites into Orbit. While satellites are mainly used for telecommunication and Earth observation, Urvyam propose more exploration of Space by building Galactic observatory stations. Equally challenging is building Space based transportation for Goods and Passengers, and Uryvam is capable of addressing this with it’s unique, powerful and truly reusable Vehicles."
what is even a Galactic observatory stations .