Paras Defence And Space Technologies Limited has informed the Exchange about receipt of an order from DRDO, Ministry of Defence valued at approximately Rs. 80.28 Cr. (Incl. of Taxes) for Development of High Precision Optical System for Air Defence Applications.
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Paras Defence and Space Technologies has received an order valued at approximately Rs. 80.28 Crore (inclusive of taxes) from DRDO, Ministry of Defence. The order is for the development of a High Precision Optical System for Air Defence Applications. The contract is a domestic order and must be executed within 18 months from the date of the supply order. The order is not a related party transaction and there is no promoter or group company interest in the awarding entity.
This is a meaningful domestic defence order from a prestigious government client (DRDO), which strengthens Paras Defence's order book and provides revenue visibility over the next 18 months. Likely to be viewed positively by the market given the strategic nature of air defence work.