Vascon Engineers Secures Rs 161.18 Crore Redevelopment Order from MSEB Holding Company; Stock Trades Higher

Pune, October 9, 2025:  Vascon Engineers Limited (NSE: VASCONEQ, BSE: 533156) has announced the receipt of an LOI (Letter of Intent) from MSEB Holding Company Limited. The contract refers to the redevelopment of the ‘Saudamini’ building located at Haji Ali Park, Mahalaxmi (Mumbai). The project is valued at ₹161.18 crore and is expected to be completed within 36 months. The amount does not include taxes and insurance charges.

Following the news, as of 2:30 PM, the shares were trading at ₹70.66, up 0.35% from the previous close. The stock moved largely sideways through the morning and afternoon sessions. However, it has shown remarkable momentum over the past six months, rallying 85.51%. The scrip is currently trading near its 52-week high of ₹73.19, well above its 52-week low of ₹31.98. It commands a P/E ratio of 20.22, which remains below the industry average of 30.95, indicating relatively modest valuations despite recent gains.

Founded in 1986, Vascon Engineers Ltd is a Pune-based integrated EPC and real estate development company with expertise across residential, commercial, and industrial projects. The company is listed on both the BSE (533156) and NSE (VASCONEQ) and has executed several landmark projects across India, including redevelopment, IT parks, industrial facilities, and institutional complexes.

Project Snapshot

The project, commissioned by MSEB Holding Company Limited, involves the redevelopment of Plot No. 9, Haji Ali Park, Mahalaxmi, Mumbai, with an order value of ₹161.18 crore (excluding GST and insurance). The execution timeline is set at 36 months, categorising it as a domestic redevelopment project. The company confirmed that none of its promoters or group entities hold any interest in the project and that it does not qualify as a related-party transaction, ensuring transparency and adherence to regulatory norms.

Vascon continues to focus on strengthening its order book and expanding its footprint in urban infrastructure and redevelopment markets.

REF: https://nsearchives.nseindia.com/corporate/VASCONEQ_09102025124950_Saudamini_IntimationtoBSENSE_Sd.pdf

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