Vascon wins Rs 465 crore tender

Vascon Engineers Ltd. received an order worth Rs. 465 crore on September 4. The tender was offered by Maharashtra State Police Housing & Welfare Corporation (A Government of Maharashtra undertaking) for construction of staff quarters along with multipurpose hall in Mumbai.

The work has to be completed within 36 months from the date of receipt of this tender. With this, the company's order intake in the current financial year is Rs 740 crore and the total external order book, as on date, is around Rs 1400 crore.

Vascon Engineers Ltd. is a construction company based in in Pune. Vascon has its presence across multiple sectors, including residential, industrial, malls, multiplexes, IT parks, community welfare centres, schools and hospitals. The company holds six subsidiaries and four joint ventures. On a consolidated basis, the company reported net profit of Rs. 5 crore in the June quarter of FY20.

On Wednesday, the stock of Vascon Engineers Ltd. opened at Rs. 10.33 and made an intra-day high and low of Rs. 12.35 and Rs. 10.25, respectively, on the BSE. The stock closed at Rs. 12.12, up by 16.99 per cent.