Public sector Bharat Electronics Limited (BEL) today said its order book grew around 4 per cent, to Rs 10,011 crore, during the first 10 months of the current financial year-ended December 31, 2008. However, the company has executed orders worth Rs 2,500 crore during the same period.
According to V V R Sastry, chairman and managing director, BEL, the company received fresh orders worth Rs 2,800 crore during the current year despite economic slowdown. “The slowdown has not made any impact on our business so far and we are hopeful of achieving our target of Rs 10,000 crore turnover by 2010-11. We are sure of securing at least 25 per cent of the $1 billion orders coming out of the offset business during the next five years.
He told reporters at Aero India 2009, here today, the company will soon finalise a joint venture with Northrop Grummen Corporation for the manufacture of components for fire control radar for its fighter aircraft programme. BEL has been selected by Northrop Grummen following an extensive evaluation, he said. “As part of a comprehensive co-production programme, the BEL team will work with the Northrop engineers to provide training and support to ensure a smooth transition to production. Our engineering teams will collaborate on all aspects of the manufacturing process, beginning with a formal Production Readiness Review (PRR) and concluding with the First Article Inspection (FAI) and First Article Test (FAT) milestones. Initial radar component deliveries are expected during the second quarter of 2009,” Sastry said.
During the present year, BEL has set a target of a turnover of Rs 4,560 crore, a growth of 13 per cent over 2007-08. A major project bagged by BEL this year is the Akash Defence System, to be delivered in 36 months. Two squadrons of Akash are to be supplied to the Indian Air Force. The order value is Rs 1,221 crore. BEL is the nodal agency for Akash and the missiles will be supplied by BDL. BEL has tied up with Tata Power, L&T, Walchand Industries and ECIL for the project, for launchers and other sub-systems. This project will showcase the public-private partnership strength of the country, he added.
