GRSE Strengthens Shipbuilding Momentum, Frontrunner for Rs 250-Bn Corvette Order
PORTS & SHIPPING

GRSE Strengthens Shipbuilding Momentum, Frontrunner for Rs 250-Bn Corvette Order

Garden Reach Shipbuilders & Engineers (GRSE) expects robust growth in its shipbuilding business, supported by defence procurement plans and government initiatives to promote indigenous shipbuilding.

“Despite competition from global and Indian yards, GRSE continues to maintain healthy growth momentum and is actively pursuing opportunities in both domestic and export markets,” the management said in its FY25 annual report.

The Kolkata-based defence PSU, which delivered its 110th warship — Survey Vessel Large INS Nirdeshak — to the Indian Navy in October 2024, has emerged as the lowest bidder (L1) for the Navy’s Rs 250-billion New Generation Corvette (NGC) programme. These multi-role stealth corvettes will be equipped for anti-surface, anti-submarine, and anti-air warfare, land attack missions, and will feature advanced sensors, weapons, and propulsion systems.

The project is expected to significantly enhance GRSE’s order pipeline, which stood at Rs 226.81 billion as of March 31, 2025, and reinforce its standing among leading global defence shipbuilders.

GRSE is also expanding its ship repair business through three dry docks at Syama Prasad Mookerjee Port, Kolkata, under a concession agreement. This has already enabled refits of Coast Guard and commercial vessels in FY25. A dedicated Commercial Shipbuilding Division has also been set up to drive non-defence orders, particularly exports, alongside investments in new products such as autonomous platforms, green energy vessels, and portable steel bridges.

Chairman and Managing Director Cmde P R Hari (Retd) said GRSE is “strategically positioned to progress exponentially” on the back of a strong order pipeline and operational efficiencies.

For FY25, revenue from operations rose 41 per cent to Rs 50.75 billion, while profit after tax grew 48 per cent to Rs 5.27 billion. The company’s market capitalisation crossed Rs 330 billion during the year.

News source: Maritime Gateway


Garden Reach Shipbuilders & Engineers (GRSE) expects robust growth in its shipbuilding business, supported by defence procurement plans and government initiatives to promote indigenous shipbuilding.“Despite competition from global and Indian yards, GRSE continues to maintain healthy growth momentum and is actively pursuing opportunities in both domestic and export markets,” the management said in its FY25 annual report.The Kolkata-based defence PSU, which delivered its 110th warship — Survey Vessel Large INS Nirdeshak — to the Indian Navy in October 2024, has emerged as the lowest bidder (L1) for the Navy’s Rs 250-billion New Generation Corvette (NGC) programme. These multi-role stealth corvettes will be equipped for anti-surface, anti-submarine, and anti-air warfare, land attack missions, and will feature advanced sensors, weapons, and propulsion systems.The project is expected to significantly enhance GRSE’s order pipeline, which stood at Rs 226.81 billion as of March 31, 2025, and reinforce its standing among leading global defence shipbuilders.GRSE is also expanding its ship repair business through three dry docks at Syama Prasad Mookerjee Port, Kolkata, under a concession agreement. This has already enabled refits of Coast Guard and commercial vessels in FY25. A dedicated Commercial Shipbuilding Division has also been set up to drive non-defence orders, particularly exports, alongside investments in new products such as autonomous platforms, green energy vessels, and portable steel bridges.Chairman and Managing Director Cmde P R Hari (Retd) said GRSE is “strategically positioned to progress exponentially” on the back of a strong order pipeline and operational efficiencies.For FY25, revenue from operations rose 41 per cent to Rs 50.75 billion, while profit after tax grew 48 per cent to Rs 5.27 billion. The company’s market capitalisation crossed Rs 330 billion during the year.News source: Maritime Gateway

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code