Garden Reach Shipbuilders Wins ₹1032 Cr ONGC Order for 4 Vessels

Garden Reach Shipbuilders & Engineers Ltd (GRSE) has received a Notification of Award (NOA) from Oil and Natural Gas Corporation Limited (ONGC) for the construction of four Platform Supply Vessels (PSVs). The total value of the contract is ₹1032.07 Crore, including GST. The project is to be executed within 48 months from the date of the NOA. This significant order from a domestic entity, ONGC, underscores GRSE's capabilities in shipbuilding and is expected to contribute positively to its order book and future revenue streams. The company confirmed that neither promoters nor group companies have any interest in ONGC, and the transaction does not fall under related party transactions.