Vascon Engineers wins ₹161 cr redevelopment project in Mumbai's Mahalaxmi

Vascon Engineers Ltd on Friday said it has bagged a Rs 161 crore project from MSEB Holding Company Ltd for the redevelopment of the Saudamini Building in Mahalaxmi, Mumbai.

Vascon Engineers in a statement said the project is scheduled for completion within 36 months from the commencement of work.

"We will focus on delivering this project to the expected quality standards and within the agreed timeline," Siddharth Vasudevan Moorthy, Managing Director, Vascon Engineers Ltd said.

In Mumbai, Vascon said it has reinforced its redevelopment-led strategy with projects such as Vascon Orchids at Santacruz and Prakash CHS at Santacruz West.

The redevelopment pipeline in Santacruz, Powai and other micro-markets collectively accounts for approximately 0.4 million square feet, representing an expected sales value of Rs 1,050 crore.

Mumbai's ongoing and planned launches are expected to contribute around 50 per cent of the company's overall real estate portfolio by FY27, the company added.

Alongside real estate redevelopment, Vascon Engineer said EPC opportunities in Mumbai and Western India are also being actively pursued, with tenders in institutional and infrastructure projects adding to the company's long-term order pipeline.