BEL Inks ₹847.7 Crore Deal with L&T

15 Mar 2024 , 03:01 PM

On March 14, Bharat Electronics declared in an exchange filing that company had received orders totaling ₹1,940.35 Crore. Larsen & Toubro Limited (L&T) and the Navaratna PSU have signed a ₹847.70 Crore deal for the delivery of communication and Electronic Warfare (EW) sensors and systems.

"Navaratna DPSU Bharat Electronics Limited (BEL) has today entered into a contract valued at ₹847.70 Crore plus taxes with Larsen & Toubro Limited (L&T) for the supply of 14 cutting-edge Communication and Electronic Warfare (EW) sensors and systems," said BEL.  Three Indian Navy cadet training ships will be outfitted with these cutting edge equipment, which BEL will produce domestically.

Since February 13, the company has also obtained further orders totaling ₹1,092.65 Crore. "These orders encompass the supply of LRUs for T-70 & T-90 Tanks, Communication Systems for the Indian Navy, as well as other Spares and Services," added BEL.

The state-owned business said in a statement that it has now received orders for ₹32,716.33 Crore for the current fiscal year.

The company's shares saw a 4% decrease of Friday’s session.

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