You dont have javascript enabled! Please enable it! GRSE Secures L1 Status for Next Generation Corvettes Project, Signals Robust Growth - Indian Defence Research Wing
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SOURCE: AFI

Garden Reach Shipbuilders & Engineers Ltd. (GRSE), a leading Government of India undertaking under the Ministry of Defence, has achieved a significant milestone by becoming the lowest bidder (L1) for the construction of eight Next Generation Corvettes (NGC) for the Indian Navy. The announcement was made in a regulatory filing to the National Stock Exchange of India Limited (NSE) and BSE Limited on May 22, 2025.

In a meeting convened by the Commercial Negotiation Committee (CNC) of the Ministry of Defence (MoD) on May 21, 2025, in New Delhi, GRSE emerged as the L1 bidder for the prestigious NGC project. The company will be awarded the contract to build five of the eight corvettes at an estimated value exceeding ?25,000 crores. This development underscores GRSE’s growing prominence in India’s defence manufacturing sector and its expertise in delivering advanced naval vessels.

The Next Generation Corvettes are set to enhance the Indian Navy’s operational capabilities with state-of-the-art technology and design, aligning with India’s push for self-reliance in defence production. GRSE’s success in securing this contract further solidifies its position as a key player in the shipbuilding industry, with a track record of delivering over 100 warships to the Indian Navy, Coast Guard, and other maritime forces.

Sandeep Mahapatra, Company Secretary and Compliance Officer at GRSE, stated in the filing, “This achievement is a testament to GRSE’s commitment to innovation and excellence in shipbuilding. We are proud to contribute to India’s naval strength and look forward to executing this project with precision.”

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