Paras Defence wins ₹142-cr contract from DRDO for laser technology

Paras Defence and Space Technologies Limited has secured a ₹142.31 crore order from the Defence Research and Development Organisation (DRDO) for developing anti-drone and anti-missile laser technology, the company announced Thursday.

The shares of Paras Defence and Space Technologies Limited were trading at ₹1,001.35 up by ₹47.50 or 4.98 per cent on the NSE at 10.10 am.

In a regulatory filing to stock exchanges, Paras Defence said it will develop a laser source module and integrate it with a beam control system on a mobile platform for the Centre for High Energy Systems & Sciences (CHESS), a DRDO lab based in Hyderabad.

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The contract is part of a larger high-power laser system project aimed at countering drone and missile threats. The company must execute the order within 24 months, according to the filing.

This domestic contract does not involve any related party transactions, and the company’s promoters have no interest in the awarding entity.