Garden Reach Shipbuilders Secured ₹1032 Crore Contract for Constructing Four Platform Supply Vessels for ONGC
Garden Reach Shipbuilders & Engineers Limited has secured a significant order valued at ₹ 1032.07 Crore from Oil and Natural Gas Corporation Limited (ONGC). The contract involves the construction of four Platform Supply Vessels (PSV) for the energy major.The company received the Notification of Award (NOA) on July 30, 2026, formalizing the agreement with ONGC. This high-value order is designated for the construction and delivery of the vessels.
The contract terms specify that the project must be completed within 48 months from the date of the NOA. The total consideration for the four PSVs stands at ₹ 1032.07 Crore, which includes GST.
Key details regarding the order are summarized as follows:
| Particulars | Details |
|---|---|
| Awarding Entity | M/s Oil and Natural Gas Corporation Limited (ONGC) |
| Order Nature | Construction of Four Platform Supply Vessels (PSV) |
| Contract Type | Domestic Order from a Domestic Entity |
| Financial Value | ₹ 1032.07 Crore (Including GST) |
| Execution Timeline | Within 48 months from the date of NOA |
The order was confirmed to be non-related party and the company holds no interest in the entity that awarded the contract, ensuring it falls outside related party transactions. The securing of this domestic project marks a major business development for Garden Reach Shipbuilders & Engineers Limited.
GRSE Stock Price Movement
Garden Reach Shipbuilders & Engineers Limited slipped today by 1.7% as the company closed at ₹2586.2. The stock saw brisk activity, recording a total traded volume of 414,345 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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