Cochin Shipyard Wins ₹5,000 Crore Indian Navy Vessel Project, Declared L1 Bidder

New Delhi, February 16, 2026: Cochin Shipyard Limited (CSL) has been declared the Lowest (L1) bidder in a major defence tender floated by the Ministry of Defence for the construction of five Next Generation Survey Vessels (NGSVs) for the Indian Navy.

The announcement was made following a meeting held at the Ministry of Defence in New Delhi on February 16, 2026. The estimated total value of the order is approximately ₹5,000 crore.

The company clarified that the final award of the contract will be subject to the satisfactory completion of necessary formalities. Further updates will be shared in due course.

Cochin Shipyard also confirmed that none of its promoters, promoter group entities, or group companies have any interest in the awarding authority. The transaction does not fall under related party transactions.

The development marks a significant boost for CSL’s defence shipbuilding portfolio and strengthens its position as a key player in India’s indigenous naval shipbuilding ecosystem.