<h1>State-owned shipbuilder named lowest bidder for Rs 25,000 crore corvette programme; big order could transform order book and profits</h1> A state-owned shipbuilder reported robust growth in defence and commercial shipbuilding, stating it has been declared lowest bidder for a new-generation corvette programme valued at about Rs 25,000 crore, which, if contracted, would materially expand its order pipeline and market position. The company highlighted an existing order book (~Rs 22,681 crore), significant FY25 revenue and profit increases, and use of three dry docks under a concession agreement for repair work. Legal considerations include procurement contract formation and performance obligations, concession terms and compliance, export-control and defence procurement regulations, and increased corporate exposure from large-scale defence contracts.