Bharat Electronics Ltd. (BEL), a state-owned defence public sector enterprise, is targeting a major Quick Reaction Surface to Air Missile (QRSAM) order valued at approximately ₹30,000 Crores by March 2026. This order is poised to boost its existing order book of ₹74,900 Crores by at least 40%.

The QRSAM system, developed indigenously by the Defence Research and Development Organisation (DRDO), is a mobile, short-range air defence system designed to provide rapid protection for ground forces against aerial threats such as aircraft, helicopters, and drones. The system’s key features include quick deployment and the capability to simultaneously engage multiple targets.

The Defence Acquisition Council (DAC) approved the QRSAM procurement on July 3, 2025, and Bharat Electronics is now awaiting the request for proposal (RFP). Manoj Jain, Chairman and Managing Director of BEL, expressed confidence in securing the order by February-March 2026, with little chance of delay into the next financial year's first quarter. This order forms a critical component of BEL’s strategic growth, complementing several ongoing projects and developments.

Beyond QRSAM, BEL is advancing other significant defence initiatives. The company expects a substantial order from the Indian Navy linked to the EL/M-2248 Multi-Function Surveillance, Track and Guidance Radar (MF-STAR), developed by Israel Aerospace Industries, integrated with Indian shipbuilders’ new warship projects. Discussions are underway regarding system configuration and specifications, with BEL hopeful of receiving subsystem orders within 3 to 6 months.

BEL is also developing a next-generation active electronically scanned array radar system for the Indian Air Force’s Su-30MKI fighter jets, intended to replace the older Russian-made N011M Bars radar. Investments are being made in sonar technology, artificial intelligence incubation centres for the Indian Navy and Army, drone and anti-drone warfare technologies, and advanced missile training simulators.

Drones feature prominently in BEL’s future plans, aiming to develop at least four types and expecting initial orders by the end of the financial year 2025-26, followed by more significant orders in the subsequent two to three years.

Another advanced project, Project Kusha, is in its final development stages. It is an indigenous multi-layered, extended-range air defence system designed to counter modern aerial threats such as stealth fighters, drones, cruise missiles, and anti-ship ballistic missiles. Project Kusha aims to surpass the capabilities of the Russian-made S-400 system currently deployed in India. Its estimated cost is around ₹21,700 Crores, and BEL expects to secure this order within three to four years after receiving necessary clearances.

Financially, BEL demonstrated robust growth recently, posting a nearly 25% year-on-year increase in net profit to ₹969 Crores for the June quarter, surpassing market expectations. The company is targeting a 15% top-line growth in the fiscal year 2025-26 and plans ₹1,000 Crores on capital expenditure in that period. Export orders are a growing focus as well, with a goal to raise their share in total sales to 10% from the current 4-5%, aiming for around $120 million in export orders in FY26.

The total order inflow expected around March 2026 could reach ₹1,05,000 Crores, boosted by QRSAM, the Indian Army’s emergency procurement system, the Indian Navy radar system, and other ongoing projects. BEL plans to invest 6-7% of its turnover into R&D, amounting to ₹1,600-1,800 Crores in the current financial year, supporting its innovation pipeline in electronic warfare, AI-driven technologies, and simulators.

Bharat Electronics is making significant strides in expanding its defence portfolio and order book, with a landmark QRSAM order of around ₹30,000 Crores expected by March 2026 as the centrepiece of its growth strategy, supported by various other high-value defence projects and modernisation efforts. This positions BEL as a key player in India’s self-reliant defence manufacturing ecosystem and technological advancement.

Agencies