At its meeting held on Friday, April 25, 2025, the GRSE board discussed and approved plans to lease a land parcel at Timber Pond, Howrah, from SMPK. This land, with its strategic waterfront access, will be used by GRSE to strengthen its infrastructure for shipbuilding, ship repair, and other engineering activities. The company emphasized that this move aligns with its long-term vision to meet the growing domestic and export demand for its services.
The company clarified that no immediate revenue generation is anticipated from this initiative.
State-run GRSE is one of India's leading defence shipyards, located in Kolkata. It builds and repairs commercial and naval vessels. GRSE also exports the ships that the company builds. As of 31 December 2024, the Government of India holds 74.50% in the company.
The company's net profit climbed 11.26% to Rs 98.19 crore on a 37.69% rise in revenue from operations to Rs 1,271 crore in Q3 FY25 over Q3 FY24.