Garden Reach Shipbuilders & Engineers Ltd (GRSE) has emerged as the lowest bidder (L1) for a major defence contract from the Indian Navy. In a stock exchange filing on May 22, 2025, GRSE announced that it has secured L1 status for the construction of five Next Generation Corvettes (NGCs).
The Ministry of Defence opened commercial bids during a meeting of the Commercial Negotiation Committee (CNC) held in New Delhi on May 21. The contract, estimated at over ₹25,000 crore, is a key component of the Navy’s fleet modernization initiative.
This achievement significantly strengthens GRSE’s order book and underscores its leadership in the Indian naval shipbuilding segment. The proposed corvettes will enhance India’s maritime capabilities with cutting-edge stealth features and weapon systems.
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