Paras Defence and Space Technologies has received a significant order from the Defence Research and Development Organisation (DRDO), Ministry of Defence, valued at approximately ₹80.28 crore, inclusive of taxes. The order pertains to the development of high precision optical systems for air defence applications.
The contract, awarded by a domestic entity, is expected to be executed within 18 months from the date of the supply order. This development underscores Paras Defence’s growing role in India’s defence sector, particularly in the realm of advanced optical technologies.
The company clarified that neither the promoter group nor any group companies have any interest in the awarding entity, and the order does not constitute a related party transaction. This contract further strengthens Paras Defence’s portfolio in defence technology and innovation.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).
This article is written by Business Desk and reviewed by News Desk before publication.