KRAS bags Rs 287.51 cr order

New Delhi: Kalyani Rafael Advanced Systems Pvt Ltd on Monday said it has bagged a Rs 287.51 crore order from the defence ministry for the supply of missile systems. The company is a joint venture between Kalyani Strategic Systems Ltd (a wholly-owned defence subsidiary of Bharat Forge Ltd) and Rafael Advanced Systems Ltd of Israel. “The order is expected to be executed over the next 12 months,” Bharat Forge said in a regulatory filing. The value of the order amounting to Rs 287.51 crore is inclusive of taxes, it added. Bharat Forge had set up Kalyani Strategic Systems Ltd, a 100 per cent subsidiary, as a flagship company to drive defence business initiatives of the group.