Garden Reach Shipbuilders & Engineers Limited has informed the Exchange about receipt of a Letter of Award on 08 Apr 2025, for the Construction and Delivery of two Coastal Research Vessel for the Geological Survey of India. The value of the award is Rs. 489.98 crore.The Company will execute the contract with the Geological survey of India in due course, and the same will be duly intimated to the Stock Exchanges, later on.
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Garden Reach Shipbuilders & Engineers Limited (GRSE) has received a Letter of Award dated 08 Apr 2025 for building and delivering two Coastal Research Vessels for the Geological Survey of India, a Government of India organization under the Ministry of Mines. The total value of the award is Rs. 489.98 crore. At present, this is only a Letter of Award; the formal contract is yet to be signed and will be communicated to the stock exchanges once executed. The order strengthens GRSE's order book and adds to its shipbuilding pipeline, though the vessels are research vessels rather than naval warships.
This is a sizeable order worth nearly Rs. 490 crore from a government client, which is positive for revenue visibility. However, since execution and timelines are still pending contract finalization, the immediate stock impact may be modest until the formal contract is signed.