Vascon Engineers gained 6.83% to Rs 44.10 after the company received a letter of intent (LoI) worth Rs 85.43 crore from Yucca Promoters LLP, Pune, for the construction of a commercial building at Kalyani Nagar, Pune.
The project has been awarded on a lump sum basis for Rs 85.43 crore, with a completion timeline of three years. The promoter is entitled to a 50% profit share in Yucca Promoters LLP. The aforementioned contract qualifies as a related party transaction and has been executed on an arms-length basis.Vascon Engineers is a Pune-based player engaged in engineering, procurement, and construction (EPC), real estate construction, and development.
The companys consolidated net profit soared 307.2% to Rs 75.57 crore in Q3 FY25, compared with Rs 18.56 crore posted in Q3 FY24. Revenue from operations jumped 42.7% year on year to Rs 294.79 in Q3 FY25.
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