According to recent reports, Mazagon Dockyards Limited (MDL) and Garden Reach Shipbuilders and Engineers (GRSE) are the frontrunners in the race for the Defence Ministry's ₹70,000 crore warships order for the Indian Navy. These warships are part of the Project 17B and will be the most advanced ships to be built in India. Mazagon Dockyards Limited is also expected to sign a contract for three additional Kalvari class submarines in the current financial year, reported ET.

GRSE, India's second-biggest warship building yard, has completed the delivery of its 100th warship, making it the first Indian shipyard to achieve this feat. The company also has orders in hand for 22 more warships worth over ₹27,500 crore.

Mazagon Dock Shipbuilders Limited (MDL) is a public sector undertaking managed by the Ministry of Defence, with the Government of India holding an 84.83% stake. It manufactures warships and submarines for the Indian Navy, as well as offshore platforms and associated support vessels for offshore oil drilling. The company has been awarded "Navratna" status by the Department of Public Enterprises.

Both Mazagon Dock and Garden Reach Shipbuilders have seen a significant increase in their market capitalization in 2024, with Mazagon Dock's share price surging by 151% and Garden Reach Shipbuilders' order book full for the next 20 years.

In conclusion, Mazagon Dockyards Limited (MDL) and Garden Reach Shipbuilders and Engineers (GRSE) are leading the race for the Defence Ministry's ₹70,000 crore warships order for the Indian Navy. Mazagon Dockyards Limited is also expected to sign a contract for three additional Kalvari class submarines. GRSE has completed the delivery of its 100th warship and has orders in hand for 22 more warships. Both companies have seen a significant increase in their market capitalization in 2024.

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