Vascon Engineers Wins large EPC Orders
Vascon Engineers Limited, an NSE, BSE listed company, is a leading construction and engineering company headquartered in Pune, Maharashtra has won two EPC orders consecutively. Vascon has 30 years of vast experience in developing, constructing and managing varied projects.
Orders worth 970 Cr booked by Vascon Engineers
In October 2019 Vascon Engineers received an order worth Rs. 505.54 Cr. from Public Works Department (PWD), Divison-3, Raipur, Chhattisgarh. The scope of work includes construction of Raj Bhavan, Honorable Chief Minister’s house, Minister’s residential houses & higher officer residential houses in New Raipur, Chhattisgarh. Timeline for completion of the project is 2 years effective from the date of signing of agreement.
In September 2019 Vascon Engineers received an order worth Rs. 465 Cr. from Maharashtra State Police Housing & Welfare Corporation Ltd. The scope of work includes the construction of staff quarters along with a multipurpose hall in Mumbai. Timeline for completion of the project is 3 years from the date of receipt of the tender.
Vascon Engineers’ Order Position
On winning these orders Dr. Santosh Sundararajan, Group CEO, Vascon Engineers Limited said, “We are pleased that we have doubled our EPC order-book since the 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 to improve our capacity utilization, which should result in better operating margin.”
With these orders, the order book for the current financial year has touched Rs. 1,245 Cr.
About the Company: Vascon Engineers started in 1986. The core focus areas of operations of the company are EPC and Real Estate. It has presence across multiple sectors including residential, industrial, IT parks, malls and multiplexes, hospitality and community welfare centres, schools and hospitals.