"Vascon Engineers Secures ₹331 Crore Contract for Medical College in Sindhudurg"

Vascon Engineers Limited has announced that it has secured a ₹331.38 crore contract from the Chief Engineer of the Public Works Regional Department, Konkan Mumbai. The project involves the construction of a medical college for 100 students, a 500-bed hospital, and associated buildings in Sindhudurg.

The contract, awarded on an EPC (Engineering, Procurement, and Construction) lump sum basis, excludes GST and is set to be completed within 30 months from August 12, 2024. Vascon Engineers received the official Letter of Acceptance for the project today.

At 3 pm on Tuesday, Vascon Engineers' shares were trading at ₹76.22 on the BSE, marking a rise of ₹1.33 or 1.78 percent.

The company also stated that no promoter or promoter group has any interest in the project, clarifying that it is not a related party transaction.

HBL