Vascon Engineers Secures ₹115.90 Crore Lotus Park Development Project in Ahmedabad

Vascon Engineers Ltd. (VASCONEQ), one of the leading EPC and Realty players with a legacy spanning over four decades, has received a Letter of Intent from Ahmedabad Municipal Corporation (AMC) for the Development of Lotus Park on 54,000 Sq. Mtrs, South West Zone, under the Building Project of Ahmedabad Municipal Corporation, Ahmedabad. The project is valued at ₹115.90 crore and it is going to be executed on an EPC basis, with a completion timeline of 24 months from the date of issuance of the work order. This order further strengthens Vascon's growing order book and reinforces its track record of winning prestigious municipal infrastructure mandates across India.

This landmark contract strengthens Vascon's order book, which currently stands at ₹2,825 crorerepresenting a healthy 2.8x coverage of FY25 EPC revenues. With the ability to execute approximately 8 million square feet annually and currently operating at 90% utilization, supported by 800+ strong project and engineering team, Vascon is well-positioned to deliver the upcoming infrastructure and EPC Projects.

Commenting on the announcement, Mr. Siddharth Vasudevan Moorthy, Managing Director, Vascon Engineers Ltd., said, "We are excited and honoured to partner with Ahmedabad Municipal Corporation in the development of Lotus Park, a landmark public infrastructure project that will enhance the quality of urban life for the citizens of Ahmedabad. This project reflects our deepening engagement with municipal bodies across India and our commitment to delivering transformative civic infrastructure through our integrated EPC capabilities. As we continue to scale our EPC business wins such as this reinforce stakeholder confidence in Vascon's execution strengths and our vision to be a preferred partner for impactful public infrastructure development."

Shares of Vascon Engineers Limited was last trading in BSE at Rs. 34.70 as compared to the previous close of Rs. 34.12. The total number of shares traded during the day was 160948 in over 1195 trades.

The stock hit an intraday high of Rs. 37.55 and intraday low of 34.22. The net turnover during the day was Rs. 5662416.00.

Source : Equity Bulls

Keywords

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