Garden Reach Shipbuilders Secures ₹1,032 Crore ONGC Order for Four Platform Supply Vessels
Garden Reach Shipbuilders & Engineers Limited (GRSE) has secured a major commercial order from Oil and Natural Gas Corporation Limited (ONGC) for the construction of four Platform Supply Vessels (PSVs). The contract, valued at ₹1,032.07 crore (inclusive of GST), marks another significant addition to the company’s commercial shipbuilding order book.
The company disclosed the order in a regulatory filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Key Contract Details
- Customer: Oil and Natural Gas Corporation Limited (ONGC)
- Order Value: ₹1,032.07 crore (inclusive of GST)
- Scope of Work: Design, construction, and delivery of four Platform Supply Vessels (PSVs)
- Contract Type: Domestic commercial contract
- Execution Period: 48 months from the date of the Notification of Award (July 30, 2026)
Strategic Importance
Platform Supply Vessels play a vital role in offshore oil and gas operations by transporting equipment, supplies, fuel, water, and personnel to offshore drilling platforms and production facilities.
The new order strengthens GRSE’s presence in the commercial shipbuilding segment while complementing its established business in defence shipbuilding. The contract also provides long-term revenue visibility over the next four years.
Regulatory Disclosure
GRSE stated that the contract has been awarded in the ordinary course of business and is not a related-party transaction. The company also confirmed that its promoters, promoter group, or group companies have no interest in the transaction.