According to an exchange filing, the order is scheduled to be executed within 12 to 15 weeks. The company also clarified that the contract does not fall under related party transactions, and the promoter group has no interest in the awarding entity.
Taneja Aerospace and Aviation is engaged in all aviation-related business activities. The business includes the Aircraft Manufacturing and Maintenance division (AMM) and the Airfield Division. The company owns an airfield, comprising an airstrip, with night landing and hangar facilities at Hosur, near Bangalore. The company also undertakes trading in electrical goods.
The company's consolidated net profit surged 76% to Rs 4.40 crore on a 20.4% jump in sales to Rs 8.97 crore in Q3 FY25 as compared with Q3 FY24.
Shares of Bharat Electronics rose 1.07% to Rs 283.15 on the BSE.