Vascon Engineers Limited receives work order for construction of 04 no. G+12 FLL Buildings for Sector-3 at RG Expansion Project from Reliance Industries Limited, Jamnagar

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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AI summary

Vascon Engineers Limited has received a Letter of Intent from Reliance Industries Limited for constructing 04 G+12 FLL Type Buildings at Sector-3 of the RG Expansion Project in Jamnagar. The order value is Rs. 131.58 crore excluding GST, awarded on a Bill of Quantities (BOQ) basis. The project must be completed within 19 months from the date of receipt. The company has confirmed that no promoter or related party is involved in this transaction, and it does not qualify as a related party transaction under SEBI regulations.

Likely market impact

This Rs. 131.58 crore order represents a significant contract win for Vascon Engineers, providing revenue visibility for the next 19 months and strengthening its order book from a blue-chip client like Reliance Industries.