Paras Defence soars after receiving contract worth Rs 142 crore from CHESS

Paras Defence and Space Technologies jumped 7.68% to Rs 1026.85 after the company announced that it has received an order from Center for High Energy Systems & Sciences (CHESS) valued at approximately Rs 142.31 crore.

Hyderabad-based CHESS is a part of the DRDO, Ministry of Defence, Government of India.

The contract is for the development of laser source module and integration with beam control system (BCS) on mobile platform. This is a part of the order of high-power laser system meant for anti drone and anti missile applications.

The project has to be executed within a period of 24 months.

Paras Defence and Space Technologies offers high precision products and turnkey solutions to the defense and space sector, operating in three main verticals: defence and space optics, defence electronics solutions, and heavy engineering. As on 31 December 2024, the Government of India held 57.05% in the company.

The company had reported a consolidated net profit of Rs 15.04 crore in Q3 FY25, zoomed 125.82% as against Rs 6.66 crore posted in Q3 FY24. Revenue from operations spiked 33.63% to Rs 85.77 crore in Q3 FY25 as against Rs 64.18 crore recorded in the corresponding quarter last year.

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