Vascon Engineers Limited has informed the Exchange regarding a press release dated March 12, 2026, titled "Press Release on Secures ₹115.90 Crore Lotus Park Development Project in Ahmedabad".
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Vascon Engineers has received a Letter of Intent from Ahmedabad Municipal Corporation (AMC) to develop Lotus Park on a 54,000 sq. mtr. area in South West Zone, Ahmedabad. The project is valued at ₹115.90 crore and will be executed on an EPC basis over 24 months. The company highlighted that its existing order book stands at ₹2,825 crore, providing 2.8x coverage of FY25 EPC revenues. Vascon is currently operating at around 90% utilization with an annual execution capacity of about 8 million sq. ft., supported by a team of 800+ professionals.
This is a meaningful new order for Vascon, representing roughly 11-12% of its FY25 EPC revenue base, and adds visibility to the order book. Winning a municipal infrastructure mandate from AMC reinforces the company's positioning in public-sector EPC work, which is generally positive for stock sentiment.