Garden Reach Shipbuilders & Engineers Ltd. (GRSE) has announced that it received a Letter of Award on April 8, 2025, from the Geological Survey of India for the construction and delivery of two Coastal Research Vessels. This contract marks a significant addition to GRSE’s ongoing portfolio of shipbuilding projects for various government agencies.
The project involves the design, construction, and delivery of the vessels, with the execution timeline set at 36 months from the date of signing the contract. The total value of the order is ₹489.98 crore. The contract has been awarded by a domestic entity, the Geological Survey of India, which operates under the Government of India.
Key Details of the Contract:
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Awarding Entity: Geological Survey of India, Government of India
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Nature of Contract: Design, construction, and delivery of two Coastal Research Vessels
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Order Type: Domestic
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Timeframe for Completion: 36 months from the date of contract signing
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Order Value: ₹489.98 crore
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Location of Execution: India
As per the disclosure, none of the promoter or promoter group companies of GRSE have any interest in the Geological Survey of India, and the order does not fall within the category of related party transactions. The agreement is strictly a business engagement between two independent public sector entities.
In the meantime, Garden Reach Shipbuilders shares opened today at ₹1,565.80, reaching a high of ₹1,577.00 and a low of ₹1,518.00. The stock has shown significant volatility, with a 52-week high of ₹2,833.80 and a low of ₹836.05.
