Vascon Engineers Limited receives Letter of Intent amounting to Rs. 115.90 Crores for Development of Lotus Park on 54,000 Sq. Mtrs, South West Zone under Building Project of Ahmedabad Municipal Corporation, Ahmedabad, Gujarat
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Vascon Engineers Limited has received a work order valued at Rs. 115.90 Crores (excluding GST) from Ahmedabad Municipal Corporation for the development of Lotus Park spread across 54,000 square metres in the South West Zone of Ahmedabad, Gujarat. The project is to be executed on an EPC (Engineering, Procurement and Construction) basis and must be completed within 24 months from the date of issue of the work order. The order has been awarded by a domestic government entity, and the company has confirmed there is no related-party interest. This is a significant infrastructure project for the company, adding to its order book in the building and urban development segment.
This Rs. 115.90 Crore government order is materially positive for Vascon Engineers, strengthening its order book and providing revenue visibility over the next two years. For shareholders, it signals steady project inflows from public sector clients and supports near-term business growth, though execution timelines and working capital requirements will be key things to watch.