Garden Reach Shipbuilders signed a Rs 32,000 crore contract with the Indian Navy to build five next generation corvettes.
Orders · Finvezto · 2 Nov 2026 · Garden Reach Shipbuilders (GRSE)
What happened
Garden Reach Shipbuilders & Engineers Limited signed a contract on November 2, 2026, with the Indian Navy for the construction of five Next Generation Corvettes at a total value of Rs 32,000 crore. Source: NSE filing
The project is scheduled to be completed within nine years and four months from the date of receipt of the first stage payment. Source: NSE filing
Key numbers
- Order value: ₹53,867 Cr
- Share of market cap: 218% of ₹24,702 Cr
Why it matters
Anand Ganapathy K: The defence ministry signed Rs 53,866.5 crore in all on 2 November, with Goa Shipyard building the other three. GRSE must deliver within 9 years 4 months of the first stage payment. Source: Stock note
Links
NSE filing (PDF) · Company page
Anand Ganapathy K | SEBI Registered Research Analyst | INH000016630.