NIBE Secures Rs 2.93 Billion Defence Order From Indian Army

07 Jan 2026 CW Team

NIBE has secured a domestic defence contract worth Rs 2.93 billion from the Indian Army under the Ministry of Defence, marking a significant order win for the company’s defence manufacturing business.

The contract involves the manufacture and supply of ground equipment, accessories, electronic system packages and ammunition for a Universal Rocket Launcher System. The system is designed to integrate multiple rocket types, including long-range variants with strike capabilities of 150 km and 300 km.

Under the agreement, NIBE is required to submit a performance-cum-warranty bank guarantee equivalent to 10 per cent of the total contract value within 30 days of signing. The project will be executed in tranches over a 12-month period, with the contract value inclusive of all applicable taxes and duties.

The company stated that the order was awarded by a domestic entity and does not involve any related-party transactions. It added that neither the promoters nor promoter group entities have any interest in the awarding authority.

NIBE operates across defence manufacturing, electric vehicle systems and software development, with capabilities spanning fabrication, machining and assembly of critical components. Despite the order win, the company reported a consolidated net loss of Rs 84.4 million in Q2FY26, compared with a net profit of Rs 91.2 million in Q2FY25. Revenue for the quarter declined 46.04 per cent year-on-year to Rs 733.7 million.

Following the announcement, shares of NIBE rose 9.21 per cent to close at Rs 1,240.25 on the BSE on 2 January 2026.

Real Estate

28 Feb 2026

Casagrand Launches Keystone In Tiruppur

Casagrand has launched Casagrand Keystone, a gated residential development at Rakkiyapalayam, off Avinashi Road, in Tiruppur. Spread across 2.2 acres, the B+G+5 structure comprises 142 units of 2 and 3 BHK homes, supported by 48 indoor and outdoor amenities. The project is introduced at a starting price of Rs 5,199 per sq. ft. The development allocates 1.3 acres to open space, including a central park of about 24,500 sq. ft. A 6,800 sq. ft. clubhouse includes a multipurpose hall, mini theatre and indoor recreation facilities. Other amenities include a 5,100 sq. ft. swimming pool, poolside par..

Premium homes account for half of India’s housing sales in 2025

Knight Frank India, in its latest report on India’s office and residential property market, has highlighted a significant shift in housing demand, with homes priced above Rs 10 million accounting for 50 per cent of total residential sales across the top eight cities in 2025. The findings underscore the growing dominance of premium housing in the country’s real estate landscape.Out of 348,247 residential units sold during the year, approximately 175,091 units were in the Rs 10 million-plus category, marking a 14 per cent year-on-year increase. The data reflects changing buyer preferences, w..

Xbattery launches XB-5K energy storage system for homes, offices

Xbattery, a Hyderabad-based deep-tech company specialising in next-generation energy storage and battery management technologies, has introduced its flagship XB-5K, a scalable 5kWh energy storage system designed for homes and offices in India.The XB-5K is built on the company’s indigenously developed BharatBMS platform, described as India’s first universal high-voltage battery management system architecture aimed at reducing import dependence and improving after-sales service capabilities. The launch comes as India seeks to strengthen domestic manufacturing and address reliance on imported..