Garden Reach emerges as lowest bidder for ₹25,000 Crore project

22 May 2025 , 12:10 PM

Garden Reach Shipbuilders Limited has been announced as the lowest bidder for an Indian Navy Project, announced the company in its filing with the bourses on May 22.

The company announced that it emerged as the lowest bidder for construction of Next Generation Corvettes for the Indian Navy. The lowest bidder will receive five NGC ships. The aggregate value of this contract is ₹25,000 Crore.

Garden Reach was announced as the lowest bidder when bids opened during the Commercial Negotiation Committee meeting convened by the Ministry of Defence.

The defence business said that the total order value is ₹40,000 Crore. The total amount shall be divided between two shipyard companies. The shipyard that was announced as the lowest bidder is likely to receive ₹25,000 Crore. 

The company also stated that it plans to expand its shipbuilding capacity from 24 to 28 ships by the end of FY 2025.

After Operation Sindoor, defence stocks have been in an upward league.

At around 11.11, Garden Reach Shipbuilders was trading 3.98% higher at ₹2,600.10 per piece, against the previous close of ₹2,500.50 on NSE. The counter touched an intraday high and low of ₹2,643, and ₹2,444.40, respectively.

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