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Garden Reach Shipbuilders & Engineers said the company has entered into a contract with the Government of India, Ministry of Defence, for construction and delivery of four survey vessels (large) at an estimated cost of Rs 2435.15 crore, under fixed price basis. The first ship is to be delivered within 36 months from the contract signing date i.e. 30 October 2018. The subsequent ships are to be delivered with a gap of six months each from the delivery of the previous ship. The project is expected to be completed within 54 months from the date of signing of the contract.

Garden Reach Shipbuilders & Engineers reported net profit of Rs 86.81 crore on net sales of Rs 1344.62 crore in the year ended 31 March 2018.

Garden Reach Shipbuilders & Engineers, a mini ratna (Category-I) PSU from 2006, is a ship builder under the administrative control of Ministry of Defence and caters to the shipbuilding requirement of Indian Navy and Indian Coast Guard. Engineering and engine production services are also offered.