The agreement is aimed at setting up an advanced OSAT (Outsourced Semiconductor Assembly and Test) facility in the state.
Under the agreement, the Madhya Pradesh government has allotted 50 acres of land on the Ujjain'Indore Corridor for the proposed facility.
The project entails a proposed investment of Rs 6,200 crore and is aimed at strengthening India's semiconductor manufacturing ecosystem, accelerating the development of semiconductor devices for strategic applications, generating employment, and supporting the growth of a domestic semiconductor ecosystem.
Paras Semiconductors, the semiconductor business of Paras Defence & Space Technologies, has been established to develop advanced semiconductor capabilities for strategic and high-performance sensor applications.
The company said the facility will leverage advanced semiconductor manufacturing and packaging technologies to produce semiconductor devices for sensor technologies, optical and optronic systems, and other strategic applications. It also has the potential to expand into AI chips and other advanced semiconductor technologies as market opportunities evolve.
The initiative builds on Paras Defence's expertise in optics and optronics and marks the group's strategic expansion into critical semiconductor technologies in line with India's semiconductor manufacturing ambitions.
Munjal Sharad Shah, Managing Director, Paras Defence & Space Technologies, said, the signing of this MoU marks a significant milestone in Paras Semiconductor's journey towards building indigenous semiconductor capabilities in India. We are honoured by the confidence and support extended by the Government of Madhya Pradesh and sincerely appreciate the state's progressive vision, industry-friendly policies and commitment to creating an enabling ecosystem for advanced manufacturing.
The allocation of land on the Ujjain' Indore Corridor reflects the state's intent to foster long-term partnerships with industry. Through this investment, we look forward to contributing to Madhya Pradesh's industrial growth, creating highvalue employment, nurturing a vibrant supplier ecosystem and supporting India's vision of becoming a globally competitive semiconductor manufacturing destination.
Santosh Kumar, Chief Executive Officer, Paras Semiconductor, said: The next phase of India's semiconductor journey will be defined not just by manufacturing capacity, but by the strength of the ecosystems we build around it. The Ujjain'Indore Corridor presents a unique opportunity to combine world-class infrastructure with a progressive policy environment to create a globally competitive semiconductor ecosystem. Ujjain, the sacred city of Mahakal and one of India's oldest centres of knowledge and civilisation, symbolises a remarkable convergence of heritage and the future.
It is an honour for Paras Semiconductors to contribute to this transformation and be part of Madhya Pradesh's vision of building advanced semiconductor capabilities. Through this project, we aim to develop semiconductor devices for strategic applications, strengthen domestic technology capabilities and contribute to India's long-term technological self-reliance.
Paras Defence and Space Technologies is primarily engaged in the designing, developing, manufacturing, and testing of a variety of defence and space engineering products and solutions. The company caters to four major segments - defence & space optics, defence electronics, heavy engineering, and electromagnetic pulse protection solutions.
The company's consolidated net profit rose 63% to Rs 32.15 crore in Q1 FY27 as against Rs 19.72 crore in Q1 FY26. Revenue from operations jumped 58.3% to Rs 171.31 crore in Q1 FY27.
The scrip rose 0.70% to Rs 1,224.05 on the BSE.
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