Defence sector company Bharat Electronics bags orders worth Rs 445 cr from UP government
Dec 26, 2023
New Delhi [India], December 26 : State-owned aerospace and defence electronics company Bharat Electronics has signed a contract valued at Rs 445 crore with the Uttar Pradesh government.
This contract signed last week, will provide "comprehensive and state-of-art hardware, AI-based software tools and cyber security solutions" for the Dial 112 project of the Uttar Pradesh government, which is an emergency response system.
"BEL is happy to be associated with the UP Government for this project, which is one of Asia's biggest emergency response systems. BEL will be utilizing the ecosystem of domestic suppliers, including MSMEs, for the execution of this project," the company said on Tuesday, announcing the contract.
Besides, the company said it has also received additional orders worth Rs 233 crore and the orders pertain to communication display units, thermal imaging cameras and other miscellaneous spares and services.
Last week, it received orders worth Rs 2,673 crore collectively from Goa Shipyard Limited (Rs 1,701 crore) and Garden Reach Shipbuilders and Engineers (Rs 972 crore). The orders entail supply of 14 types of sensors for use on Next Generation Offshore Patrol Vessels (NGOPV).
The state-owned company has bagged cumulative orders of worth Rs 26,613 crore till now in the current financial year 2023-24.
Earlier on December 20, BEL won five awards including 'Company of the Year', 'Contribution of Women', 'Operational Performance Excellence', & 'CSR & Sustainability' at the Indian Chamber of Commerce - PSE Excellence Awards.
The shares of Bharat Electronics have risen about 82 per cent on a cumulative basis in 2023. At 12.38 pm today, it was 4.5 per cent higher at Rs 182.85 per share.
The central government has set the target of achieving indigenous defence manufacturing worth Rs 175,000 crore including defence exports of Rs 35,000 crore by the year 2024-25.
The government has taken several policy initiatives in the past few years and brought in reforms to encourage indigenous design, development and manufacture of defence equipment, thereby promoting self-reliance in defence manufacturing.
