Hyderabad (Telangana) [India], Mar 10 (ANI): HBL Power Systems said on Tuesday it has bagged orders worth Rs 180 crore which will contribute to the company's growth.
The Indian Navy has placed an order for seven submarine propulsion batteries with a value of Rs 85 crore. The product will be delivered over the next 18 months.
"This is the first time HBL has been recognised as a source for submarine batteries by the Indian Navy and further orders including exports are likely," it said in a statement.
The company will supply train collision avoidance systems worth Rs 70 crore to South Central Railway. The contract is executable over the next 18 months.
"Twelve years of efforts made by the company to pioneer development of this safety-critical technology indigenously have come to fruition," HBL said adding that further orders in this category are expected regularly.
Besides, HBL has received export orders of over Rs 26 crore for supply of lithium thermal batteries. These orders are from new customers and are expected to result in continued long-term business, it said. (ANI)