"Vascon Engineers Wins ₹615 Crore Contracts, Share Prices Surge"

Vascon Engineers Limited, a prominent player in the construction industry, witnessed a more than two percent increase in its share value following the announcement of its successful acquisition of two substantial contracts.

The first of these contracts, valued at ₹352.91 crore, was granted by the Jharkhand State Building Construction Corporation Limited. This contract involves the remaining construction work for a Medical College and the Upgradation of a District Hospital in Koderma. The project was awarded based on a Bill of Quantities (BOQ) and is expected to be completed within 30 months from the date of the Letter of Acceptance.

The second contract, with a value of ₹262.19 crore, was secured from Bridge and Roof Co. India Ltd., a Government of India Enterprise. This contract pertains to the Planning, Designing, Construction, IT (Networking), and Maintenance of a Government Medical College in District Kanker, Chhattisgarh. The project is under the aegis of the Chhattisgarh Medical Services Corporation Ltd. (Government of Chhattisgarh) and has been awarded on an Engineering, Procurement, and Construction (EPC) basis. The timeline for this project's completion is set at 24 months from the commencement date.

The news of these significant contract wins bolstered investor confidence, leading to a notable increase in Vascon Engineers' share prices.

HBL