Vascon Engineers Ltd Share Price – NSE /  BSE

Construction, Small Cap

Vascon Engineers has received upgradation in credit rating at CRISIL A-; Stable/ CRISIL A2+ for bank facilities availed by the company aggregating Rs 725 crore.

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Vascon Engineers will hold a meeting of the Board of Directors of the Company on 28 October 2024.

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Vascon Engineers has received Letter of Acceptance amounting to Rs. 57.22 crore (Excluding GST) from Mumbai Metro Rail Corporation, Government of Maharashtra for construction of Commercial Building at Kalbadevi (K2) on CS No. 663, 664, 665, 1/665, 666, 667, 669, 671 & 774 of Bhuleshwar Division in 'C' Ward for rehabilitation of Metro Line 2/3 PAP's at Kalbadevi Girgaon.

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The order entails construction of commercial building at Kalbadevi on CS No 663, 664, 665, 1/665, 666, 667, 669, 671 & 774 of Bhuleshwar Division in ‘C’ ward for rehabilitation of Metro Line 2/3 PAP’s at Kalbadevi Girgaon.

The work has been awarded on ‘percentage rate basis’ and it has to be completed within 28 months from the date of receipt.

Vascon Engineers is engaged in the EPC, real estate construction and development business. The real estate business of VEL comprises construction of residential and office complexes along with information technology parks, industrial units, shopping malls, multiplexes, educational institutions and hotels. Under the EPC segment, VEL has executed construction contracts. It primarily caters to government departments and authorities.

The civil construction company's consolidated net profit declined 19.3% to Rs 9.60 crore in Q1 FY25 as against Rs 11.90 crore posted in Q1 FY24. Net sales jumped 34.7% YoY to Rs 275.47 crore in June 2024 quarter.

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