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Vascon Engineers Rockets Ahead with ₹854 Million Order Win, Shares Surge on New Goa Project

Updated: April 24, 2025 11:47

Image Source: NDTV Profit
Vascon Engineers Ltd has won a significant order book boost, securing a Letter of Intent (LoI) worth ₹854.3 million from Royal Rides for a prestigious infrastructure project in Goa. The deal, which was announced today, propelled Vascon's shares to rise by almost 6% in initial trading as investors welcomed the company's increasing pace in the EPC (Engineering, Procurement, and Construction) segment.
 
Key Highlights:
  • Project Scope: The contract entails the development of two terminal buildings, ropeway tower foundations, and large-scale site development at Panaji and Reis Magos, Goa. The project is on a design-and-build basis and has to be executed within 36 months from the date of LoI.
  • No Related Party Involvement: Vascon Engineers made it clear that there is no promoter or related party interest in Royal Rides, and the transaction is transparent.
  • Financial Performance: The firm just posted a spectacular 307% increase in consolidated net profit at ₹75.57 crore for Q3 FY25, as revenues rose by 42.7% year-on-year, highlighting robust execution skills.
  • EPC Leadership: The newest victory consolidates Vascon's reputation as a dominant force in India's vibrant infrastructure and construction sector, with a strong pipeline across commercial, healthcare, and real estate developments.
  • Market Response: The share price surged to ₹43.87 after the announcement, demonstrating increased investor confidence in Vascon's growth path and order visibility.
Sources: Business Standard, Marketscreener, Economic Times

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