Kolkata-based shipyard and builder of commercial and naval vessels Garden Reach Shipbuilders and Engineers (GRSE) has set its sights on achieving a key milestone in revenue by the fiscal year 2024-25.

In a recent interview with CNBC-TV18, Retired Commodore PR Hari, Chairman and Managing Director of GRSE, shared insights into the company's performance and strategic plans for the coming years. The conversation focused on the company's impressive order book, its commitment to execution, and its ambitious targets.

Hari revealed that the company anticipates reaching its peak revenue during this period (FY2024-25). This projection underscores the company's determination to harness its capabilities and capitalise on market opportunities.

A key indicator of GRSE’s success is its robust order book, which currently stands at an impressive Rs 24,456 crore. This figure highlights the company's strong position in the shipbuilding and engineering sector, reflecting the trust that clients place in its capabilities.

“Four projects for the Indian navy comprising of 19 warships and two more projects — one for the government of Bangladesh and one for the government of West Bengal. This is our current order book position,” he said.

The order book is a testament to the company's commitment to delivering quality products and services that meet the diverse needs of its clientele.

The company's dedication to timely execution is evident in its recent performance. During the first quarter of the financial year, GRSE successfully executed orders worth Rs 750 crore.

“During this quarter, while we have executed orders around Rs 750 crore, we also got a Rs 250 crore order from the Indian navy for the manufacture of 30mm naval surface guns. So this is what has added and stabilised our order book,” he said.

This achievement not only demonstrates the company's efficiency in delivering on its commitments but also showcases its ability to adapt and perform even in challenging business environments.

Looking ahead, GRSE has set an ambitious target. The company aims to maintain an order book of Rs 24,000 crore by the end of the current year. This goal underscores the company's determination to sustain its growth trajectory and further solidify its position in the market. With a strategic focus on enhancing its offerings and streamlining operations, the company is well-positioned to achieve this objective.

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(Edited by : C H Unnikrishnan)