The total project cost for the brownfield expansion at Falta will be approximately Rs 610 crore. Under the Shipbuilding Development Scheme, the Government will extend capital assistance of around Rs 129 crore towards eligible plant and machinery, subject to compliance with the applicable scheme guidelines.

The expansion will substantially enhance Titagarh Naval Systems' infrastructure and technological capabilities, enabling the shipyard to cater to defence, commercial, and export-oriented shipbuilding requirements.

Umesh Chowdhary, vice chairman & managing director, Titagarh Rail Systems, said: 'This in-principle approval under the Shipbuilding Development Scheme is a strong endorsement towards building a self-reliant and globally competitive maritime nation. We sincerely acknowledge the guidance and support of the Ministry of Ports, Shipping and Waterways in enabling this important milestone.

At Titagarh, we remain firmly committed to building a state-of-the-art shipyard in the state of West Bengal that will support the country's defence indigenisation goals, contribute to national security, and cater to both domestic and global shipbuilding requirements. This is a significant step in our journey to contribute meaningfully to India's maritime growth story.'

Titagarh Rail Systems is mainly engaged in the manufacturing and selling of freight waggons, passenger coaches, metro trains, train electricals, steel castings, specialised equipment & bridges, ships, etc. The company caters to both domestic and export markets.

The company's consolidated net profit tanked 23.48% to Rs 48.03 crore in Q3 FY26 as against Rs 62.77 crore posted in Q3 FY25. Revenue from operations decreased 7.8% year-on-year (YoY) to Rs 832.06 crore in the quarter ended 31 December 2025.