Garden Reach Shipbuilders & Engineers Ltd (GRSE) has received a Notification of Award (NOA) from Oil and Natural Gas Corporation Ltd (ONGC) for the construction of four Platform Supply Vessels (PSVs).
The order, valued at ₹1,032.07 crore, including GST, was awarded on 30 July 2026. The company disclosed the development to the stock exchanges through an exchange filing dated July 30, 2026.
The contract covers the construction and delivery of 4 Platform Supply Vessels, which are used to transport equipment, supplies and personnel to offshore oil and gas installations.
According to the filing, the project is to be completed within 48 months from the date of the Notification of Award. ONGC has awarded the contract as a domestic order, and the vessels will be built by GRSE under the agreed timeline.
GRSE said the total contract value stands at ₹1,032.07 crore, including GST. The company identified ONGC as the awarding entity and stated that the scope of work is limited to the construction and delivery of the vessels.
No additional commercial terms or phased execution schedule were disclosed in the regulatory filing.
As part of the mandatory disclosure, GRSE confirmed that none of its promoters, promoter group entities or group companies have any interest in ONGC in connection with the contract.
It also stated that the order does not fall under related-party transactions. The filing was signed by Company Secretary and Compliance Officer Sandeep Mahapatra.
Platform Supply Vessels support offshore exploration and production by carrying cargo, machinery, drilling materials and crew to offshore installations. The latest order adds another commercial vessel project to GRSE's order pipeline.
The company is a public sector shipbuilder under the Ministry of Defence and undertakes both defence and commercial shipbuilding projects.
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As of July 30, 2026, at 3:30 pm, Garden Reach Shipbuilders & Engineers Ltd (GRSE) share price closed at ₹2,581.50, a 1.70% decrease from the previous closing price.
The ₹1,032.07 crore order from ONGC adds four Platform Supply Vessels to GRSE's execution pipeline. The project is scheduled for completion within 48 months from the award date.
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Published on: Jul 30, 2026, 5:04 PM IST
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