Vascon Engineers rose 1.43% to Rs 71.55 after it has received a redevelopment contract worth Rs 161.18 crore from MSEB Holding Company for the redevelopment of the 'Saudamini' Building located at Plot No.9, Haji Ali Park, Mahalaxmi, Mumbai.
The project is scheduled for completion within 36 months and carries a total work value of Rs 161.18 crore, excluding GST and insurance. The contract has been granted on a redevelopment basis.
There is no interest held by the promoter or promoter group entities in MSEB Holding Company Limited, and the contract is not classified as a related party transaction. This project strengthens Vascon Engineers footprint in the urban redevelopment sector.
Vascon Engineers is a Pune-based player engaged in engineering, procurement, and construction (EPC), real estate construction, and development.
The companys consolidated net profit surged 131.39% to Rs 21.89 crore on 12.71% increase in revenue from operations to Rs 221.18 crore in Q1 FY26 over Q1 FY25.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
