The domestic contract is to be executed on or before September 2027, the company said.

The order does not involve any related party transaction, and neither the promoter nor promoter group entities have any interest in the awarding entity, it added.

Paras Defence and Space Technologies is primarily engaged in the designing, developing, manufacturing, and testing of a variety of defence and space engineering products and solutions. The company caters to four major segments - defence & space optics, defence electronics, heavy engineering, and electromagnetic pulse protection solutions.

Bharat Electronics (BEL) is a Navratna PSU under the Ministry of Defence, Government of India. It manufactures electronic products and systems for the army, navy, and air force.

Shares of Bharat Electronics shed 0.25% to Rs 406.20 on the BSE.