Anchored for the Future: GRSE Seals 30-Year Land Lease Deal with SMPK

Garden Reach Shipbuilders & Engineers (GRSE) surged 7.74% to ₹1,741.95 on April 28 after its board approved the signing of an agreement for a 30-year non-renewable lease of a waterfront land plot at Timber Pond, Howrah, with Syama Prasad Mookerjee Port, Kolkata (SMPK). The agreement is expected to strengthen GRSE's shipbuilding, repair, and engineering infrastructure to support increasing domestic as well as export demand.

 

Although the company clarified there was no near-term revenue implication, investors embraced the long-term growth opportunity, with shares gaining 15% in April 2025 alone. As a large defence shipyard, GRSE builds naval and commercial vessels, and the Indian government holds 74.5% stake in it.

 

The waterfront access of the leased land is vital for GRSE's expansion plans, which falls into India's agenda of enhancing maritime infrastructure.

 

Sources: Business Standard, AngelOne, EquityBulls