GRSE Bags ₹32,000 Crore Indian Navy Contract, To Build Five Next Generation Corvettes With Advanced Missile Systems

Mumbai: Garden Reach Shipbuilders and Engineers Ltd (GRSE) has secured a major defence contract worth approximately ₹32,000 crore from the Indian Navy for the construction of five Next Generation Corvettes (NGCs). The agreement was signed in New Delhi on Monday, November 2, 2026, marking a significant development for the state-owned defence shipbuilding company.

Contract Details

According to the company's exchange filing, the contract was signed by Dinesh Kumar and Shantanu Bose, representing the Ministry of Defence and GRSE, respectively. The signing ceremony took place in the presence of Defence Secretary Rajesh Kumar Singh and Chief of Naval Staff Admiral Dinesh K Tripathi, as per the details provided. The project involves constructing five modern warships designed to support the Indian Navy's operational requirements.

Warship Specifications

Each Next Generation Corvette will measure approximately 127 metres in length and 17.6 metres in width. The vessels will have a reported deadweight tonnage of 4,950 tonnes and a maximum operating speed of 26 knots. The warships are designed for an endurance of 14 days at sea. Each vessel will accommodate 150 personnel, including 11 officers and 139 sailors.

Advanced Propulsion

The corvettes will feature a Combined Diesel and Gas Turbine-Cross-Connect propulsion system. This arrangement will power two Controllable Pitch Propellers, providing the vessels with propulsion flexibility for naval operations. The configuration forms part of the warships' planned technical capabilities.

Missile Systems

The Next Generation Corvettes will carry multiple advanced weapon systems. These include Medium Range Anti-Ship Missiles, Medium Range Surface-to-Air Missiles (MRSAM), torpedo tubes and an OTO Melara 76 mm naval gun. The vessels will also feature Close-In Weapon Systems (CIWS) and SRCGs for additional defensive capabilities.

Defence Shipbuilding

The ₹32,000 crore contract represents a substantial addition to GRSE's defence shipbuilding projects. The programme will involve constructing five advanced naval platforms equipped with missile systems, torpedoes and modern propulsion technology. Further details regarding construction timelines and vessel deliveries were not provided in the supplied announcement.

Disclaimer: This story is based on company exchange filings and is for informational purposes only. Investors should evaluate risks before making decisions.