Pipavav Defence and Offshore Engineering Co. Ltd. said it had bagged a contract for Rs.1,160 crore to construct two specialized offshore vessels for its European client.
The vessels are to be delivered over next 12 to 16 months, the company said.
Pipavav Defence said its order book crossed $2 billion and was close to win at least three more contracts in the next quarters in the offshore and naval segments.
Pipavav Defence is the first yard in India to receive rigs from Global giants like Transocean, ONGC and Noble among others due to its world class Dry dock and state-of-the-art infrastructure to build and dry dock Offshore assets besides Naval warships.
The company also received interest from the European investor for investment in the company. It will be subject to the approval by the board, shareholders and required statutory approvals.
At the BSE, Pipavav Defence and Offshore Engineering Company shares are currently trading at Rs.69.90, up 1.45 percent from the previous close.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.