BEL eyes ₹40,000 cr from ‘Project Kusha’, ₹30,000 cr QRSAM order likely this year
Bharat Electronics Ltd (BEL) is anticipating a potential order of up to ₹40,000 crore from Project Kusha, an indigenous air defence programme positioned as India’s answer to the Russian S-400 system, media reports said.
The company is working closely with the Defence Research and Development Organisation (DRDO) as a development partner on the project, NDTV Profit reported.
“We are the development partner with DRDO and are jointly developing several subsystems for Kusha, primarily various radar types and control systems,” BEL Chairman and Managing Director Manoj Jain said during the company's March quarter earnings call, according to the report.
The company is currently waiting for clarity on who will be appointed as the system integrator for the project.
“If there are two system integrators, we will definitely be one of them,” Jain said, adding that BEL stands to receive orders worth around ₹40,000 crore if selected as the sole system integrator.
The company is currently focused on developing the product and fast-tracking system readiness.
A prototype is expected to be ready within the next 12 to 18 months, with user trials likely to follow over a period of 12 to 36 months.
The timeline for securing formal orders will hinge on the outcome of development and trial stages. DRDO is leading the initiative.
BEL is also expecting a substantial order worth around ₹30,000 crore for the Quick Reaction Surface-to-Air Missile (QRSAM) system.
“QRSAM may be around roughly ₹30,000 crore… we are the production agency, so the order will come to BEL,” Jain said, noting that the order would cater to both the Indian Army and Air Force. The contract could be finalised by the last quarter of the current financial year or possibly spill into the first quarter of FY26.
Apart from QRSAM, BEL is targeting order inflows worth ₹27,000 crore in the current fiscal. Of this, ₹3,300 crore has already been secured.
If the QRSAM deal materialises within the year, the total inflow for FY26 could cross ₹50,000 crore.
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