Vascon Engineers Ltd Wins Rs 161 Crore Redevelopment Project in Mumbai

Vascon Engineers Ltd secured a Rs 161 crore project from MSEB Holding Company Ltd for Mumbai's Saudamini Building redevelopment, set for 36-month completion. The company's real estate strategy includes significant projects in Santacruz and Powai, expected to expand its portfolio by FY27. EPC opportunities are also being explored.

Vascon Engineers Ltd has announced that it has secured a significant Rs 161 crore contract from MSEB Holding Company Ltd for the redevelopment of the Saudamini Building located in Mahalaxmi, Mumbai. The project is slated for completion within a three-year timeframe.

Under the leadership of Siddharth Vasudevan Moorthy, Managing Director, Vascon Engineers is committed to delivering this project to meet high-quality standards and adhere to the agreed timeline. The company has a strong redevelopment presence in Mumbai, with ongoing projects such as Vascon Orchids at Santacruz and Prakash CHS in Santacruz West.

Vascon Engineers anticipates that approximately 50% of its real estate portfolio by FY27 will be generated from its active and upcoming redevelopment projects in Mumbai, including a pipeline of 0.4 million square feet in Santacruz and Powai, valued at Rs 1,050 crore. Additionally, Vascon is pursuing engineering, procurement, and construction opportunities to enhance its order book.

(With inputs from agencies.)