The contract value is Rs 123.07 crore, plus 15% for the growth of work and additional spares. It is to be executed within 10 months from the date the ship becomes available for refit at GRSE Kolkata.
State-run GRSE is engaged in building warships and other vessels for the Indian Navy and Indian Coast Guard. It has also diversified into an engineering business with a product profile of pre-fabricated steel bridges, various deck machinery items, and assembly, as well as testing & overhauling of marine diesel engines. As of 31 December 2024, the Government of India holds 74.50% in the company.
The company's net profit climbed 11.26% to Rs 98.19 crore on a 37.69% rise in revenue from operations to Rs 1,271 crore in Q3 FY25 over Q3 FY24.
Shares of Garden Reach Shipbuilders & Engineers shed 0.56% to Rs 1,344.15 on the BSE.