Paras Defence & Space Technologies is set to invest Rs. 12000 crores to establish India`s first Optics Park in Maharashtra. In this regard, the defence company signed a Memorandum of Understanding (MoU) with the Government of Maharashtra (GoM). The announcement, made at the prestigious World Economic Forum in Davos, Switzerland, marks a historic milestone in India`s journey toward self-reliance in advanced optical technologies. The monumental investment is set to create a state-of-the-art technology hub that will reshape India`s optics and optical systems sector and establish itself as a World Leader in Optical Technologies. It also reaffirms Paras Defence`s commitment to the `Make in India` initiative while advancing India`s aspirations for technological independence in critical sectors. The project is poised to generate over 2,000 direct employment opportunities and catalyze technological advancements across key industries such as defence, space, automotive, industrial, and commercial applications. Under the planned MoU, the Government of Maharashtra has pledged its comprehensive support to Paras Defence in securing land, various incentives and approvals to bring this ambitious project to fruition.Powered by Capital Market - Live News

Paras Defence and Space Technologies granted 78,450 stock options under ESOP on 22 January 2025. Powered by Capital Market - Live News

Paras Defence and Space Technologies has opened its advanced, State-of-the-Art Optical Systems testing facility in Navi Mumbai, Maharashtra. Powered by Capital Market - Live News

Paras Defence and Space Technologies has received an order from Instruments Research and Development Establishment (IRDE), Ministry of Defence, Government of India, Dehradun, valued at approximately Rs 61.43 crore (incl taxes) for Upgrade of Optronic Periscope Sight with Accessories, including ESM Warner, for Indian Naval Submarine Application.Powered by Capital Market - Live News

Net profit of Paras Defence and Space Technologies rose 47.13% to Rs 13.86 crore in the quarter ended September 2024 as against Rs 9.42 crore during the previous quarter ended September 2023. Sales rose 42.05% to Rs 87.09 crore in the quarter ended September 2024 as against Rs 61.31 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales87.0961.31 42 OPM %26.1125.31 - PBDT21.8515.66 40 PBT18.1612.17 49 NP13.869.42 47 Powered by Capital Market - Live News