Paras Defence and Space Technologies announced on Wednesday, January 31, that the company has bagged an order worth ₹53 crore from the Defence Ministry for supplying Optronic Periscopes. The order was secured on January 30 from the Instrument Research and Development Establishment (IRDE), a laboratory of the Defence Research and Development Organisation (DRDO).
"Paras Defence and Space Technologies Limited (“Paras”) has won the contract for Design, Optimization, Fabrication and Qualification of Optical Periscopes for ICS for Submarine Application dated January 30, 2024, from Instrument Research & Development Establishment (IRDE), Govt. of India, Ministry of Defence, DRDO," the defence company said in an exchange filing.
The company will complete the delivery in the financial year 2024-25 (FY24), Paras Defence said.
Paras Defence and Space Technologies offers high-precision products and turnkey solutions to the defence and space sector.
The shares of the company closed over 3% in the green post the order win.
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