Garden Reach Shipbuilders and Engineers Ltd to enter into lease agreement with SMPK, Kolkata

The Board of Directors of Garden Reach Shipbuilders & Engineers Ltd. (GRSE) at its Meeting held on Friday, 25 Apr 2025 was apprised that GRSE will enter into a thirty-year lease agreement (nonrenewable) with Syama Prasad Mookerjee Port, Kolkata (SMPK) for a land parcel at Timber Pond, Howrah.

This step aligns with GRSE's long-term vision to strengthen its infrastructure in line with the growing domestic and export demand. The proposed leased land, with its valuable waterfront access, will support GRSE's initiatives in shipbuilding, ship repair and other engineering activities.

The revenue generation from this initiative is not anticipated at this stage.

Shares of Garden Reach Shipbuilders & Engineers Limited was last trading in BSE at Rs. 1616.80 as compared to the previous close of Rs. 1728.85. The total number of shares traded during the day was 172570 in over 9976 trades.

The stock hit an intraday high of Rs. 1739.20 and intraday low of 1596.60. The net turnover during the day was Rs. 282279416.00.

Source : Equity Bulls

Keywords

GardenReachShipbuildersandEngineers INE382Z01011 GRSE LeaseAgreement SMPK Kolkata