GRSE Signs ₹32,000 Crore Deal with Indian Navy for Five Next-Gen Corvettes
Garden Reach Shipbuilders & Engineers Ltd. (GRSE) signed a ₹32,000 crore contract with the Indian Navy for five Next Generation Corvettes (NGCs). The deal marks a significant step in indigenous warship building. GRSE emerged as the lowest bidder for the project, which will enhance India's maritime defence capabilities.
This contract represents a substantial increase in GRSE's order book and revenue potential, significantly impacting its future financial performance and market position in the defense shipbuilding industry.
The signing of a major contract for the construction of five Next Generation Corvettes valued at ₹32,000 crore with the Indian Navy is a significant positive development for GRSE, boosting its order book and reinforcing its position in the defense sector.
Garden Reach Shipbuilders & Engineers Limited (GRSE) has signed a contract with the Indian Navy for the construction of five Next Generation Corvettes (NGCs). The contract is valued at approximately ₹32,000 crore. GRSE had emerged as the lowest bidder (L1) for this prestigious project. The signing ceremony took place in New Delhi on 02 November 2026.
The Next Generation Corvettes will be 127 meters in length and 17.6 meters in beam, with a deadweight tonnage of 4,950 tonnes. They will have an endurance of 14 days at sea and a maximum speed of 26 knots, accommodating 11 officers and 139 sailors. These warships will feature an advanced Combined Diesel and Gas Turbine – Cross-Connect (CODAG-CC) propulsion arrangement and are designed for multi-role operations including offensive missile attacks, anti-missile defence, anti-submarine warfare, escort duties, and maritime interdiction operations.
The corvettes will be equipped with advanced weapons and sensors, including Medium Range Anti-Ship Missiles, Medium Range Surface-to-Air Missiles (MRSAM), torpedo tubes, a 76 mm Super Rapid Gun Mount, a Close-In Weapon System (CIWS), and 12.7 mm Stabilised Remote-Controlled Guns. The sensor suite will include an Electro-Optical Infrared Search and Track (EOIRST) system and a Multi-Function Surveillance, Track and Guidance Radar (MFSTAR). The vessels will also have helicopter-operating capabilities.
GRSE is currently constructing nine warships, including an advanced guided missile frigate under Project 17A, four ASW-SWCs, and four Next Generation Offshore Patrol Vessels. The company also has orders for 36 other platforms, including 13 for export. GRSE has a track record of delivering 118 warships to the Indian Navy, Indian Coast Guard, and friendly foreign nations.
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See the model portfoliosA plain-language summary of a public exchange filing by Garden Reach Shipbuilders & Engineers Limited. Read the original for the full detail.