Paras Defence and Space Technologies Limited has secured an order worth approximately ₹80.28 crore (inclusive of taxes) from the Defence Research and Development Organisation (DRDO), Ministry of Defence, for the development of a High Precision Optical System for Air Defence Applications. The company made the disclosure to BSE and NSE on Monday, March 9, 2026.
The contract is domestic in nature and is to be executed within 18 months from the date of the supply order. DRDO has no promoter or promoter group interest in Paras Defence, and the transaction does not qualify as a related party transaction.
The order was signed off by Managing Director Munjal Sharad Shah, who digitally authenticated the regulatory filing at 10:39 AM IST on March 9, 2026.
Paras Defence stock was trading at ₹721.90 as of 12.39 PM, down ₹27.45 or 3.66% from its previous close of ₹749.35. The stock had opened higher at ₹764.35 and touched an intraday high of ₹769.90 before selling pressure dragged it to a low of ₹708.00.
Paras Defence, headquartered in Navi Mumbai, specialises in defence and space optics, electronics, and engineering systems. The company counts DRDO and other defence establishments among its key clients. Its Heavy Engineering Division operates out of Ambarnath, Thane, while its R&D Centre is based in Bengaluru.
The new contract reinforces the company’s positioning in India’s indigenisation drive for defence optics, an area receiving increased government attention under the broader “Aatmanirbhar Bharat” defence procurement policy.