Vascon Engineers Limited has received an order worth Rs. 505.54 crores from Public Works Department, Divison-3, Raipur, Chhattisgarh for "Construction of 'Raj Bhavan, Honorable Chief Minister's House, Honorable Minister's Residential House & Higher Officer Residential House" in New Raipur, Chhattisgarh. The work has to be completed within 24 months from the date of signing of Agreement.
Earlier in September, 2019, Vascon received an order worth Rs. 465 crores from Maha rashtra State Police Housing & Welfare Corporation Ltd. (A Government of Maharashtra Undertaking) for "Construction of Staff Quarters along with Multipurpose Hall" in Mumbai. The work has to be completed within 36 months from the date of receipt of the tender.
Commenting on the recent Order receipt Dr. Santosh Sundararajan, Group CEO, Vascon Engineers Limited said, "We are pleased that we have doubled our EPC order-book since beginning of the current financial year. With the receipt of the two large EPC orders in the state of Maharashtra and Chhattisgarh, revenue visibility has improved significantly. Further, we will be able improve our capacity utilization, which should result in better operating margin."
Total order intake in current financial year is Rs. 1,245 crores and Total External Order Book is around Rs. 1,900 crores.
Shares of Vascon Engineers Ltd was last trading in BSE at Rs.12.45 as compared to the previous close of Rs. 12.67. The total number of shares traded during the day was 14237 in over 42 trades.
The stock hit an intraday high of Rs. 12.99 and intraday low of 12.41. The net turnover during the day was Rs. 180314.