Vascon Engineers Share Price Jumps Over 6%; Here’s Why!

According to Vascon Engineers Limited, Royal Rides Pvt Ltd, Goa, has sent a  Letter of Intent for ₹225.46 crores(not including GST and labour cess). As part of the contract, 2 terminal buildings will be constructed at Panaji and Reis Magos, Goa, together with the foundation for a ropeway tower and related site development work.

Project Details and Scope

After being awarded on a ‘Design and Build’ basis, the project is expected to be finished in 36 months from the date of the Letter of Intent. This is a domestic contract, and no related parties are involved. The awarding company is not of interest to the promoters or the Vascon Engineers promoter group.

Share Price Performance

As of 12:13 PM, the share price of Vascon Engineers was trading higher by 6% at ₹44.06 per share on NSE. So far in the month of April, the share price of Vasco Engineers has gained 19%. 

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About Vascon Engineers 

Vascon Engineers has more than 37 + of experience, conceiving, developing, constructing and managing varied projects. It is active in multiple sectors including residential, industrial, IT parks, malls and multiplexes, hospitality and community welfare centre, schools and hospitals.

Right from its inception in 1986, Vascon has remained committed to applying the art of value-based aesthetics into the science of construction through efficient engineering. The Vascon team is mainly made up of engineers who are backed up by highly qualified specialists from various fields of management. Right from planning and procurement to testing and execution, every Vascon professional follows well-documented systems and procedures.

Conclusion

Vascon Engineers’ standing in the engineering and construction industry is strengthened by this order, which is a noteworthy addition to the company’s expanding portfolio of important infrastructure and design-build projects throughout India.

As seen by the strong expansion of its project pipeline, this significant order enhances Vascon Engineers’ standing in the infrastructure industry.  With a contract worth ₹225.46 crore, the company demonstrates growing investor trust and solidifies its market position while ensuring consistent advancements in its design-and-build capabilities throughout India.

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