Vascon Engineers Secures ₹161.18 Crore Redevelopment Contract for Saudamini Building; Share Price in Focus

Vascon Engineers Limited has announced that it has received a Letter of Intent (LOI) from MSEB Holding Company Limited for the redevelopment of the “Saudamini” Building located at Plot No. 9, Haji Ali Park, Mahalaxmi, Mumbai. 

The total project value stands at ₹161.18 crore, excluding GST and insurance. The project underscores Vascon’s growing footprint in the premium redevelopment and infrastructure segment in Mumbai.

Details of the Redevelopment Project

According to the company’s exchange filing on October 9, 2025, the redevelopment work has been awarded on a redevelopment basis and will be executed over a 36-month period. The contract, awarded by a domestic entity, is expected to generate a total value of ₹161.18 crore for Vascon Engineers Limited. The scope of the work includes the complete redevelopment of the Saudamini Building, which is owned by MSEB Holding Company Limited.

The company clarified that none of its promoters or promoter group members holds any interest in the awarding entity, and the order does not fall under the ambit of related party transactions.

Strategic Importance of the Project

The Saudamini Building redevelopment project marks another significant addition to Vascon Engineers’ urban redevelopment portfolio in Maharashtra. The project’s location at Mahalaxmi, a prime commercial and residential hub in Mumbai which enhances its strategic importance and potential for long-term value creation. The company continues to strengthen its position in the engineering, procurement, and construction (EPC) sector through such high-value contracts.

Read More: Dhan Achieves Unicorn Status with $120 Million Investment Led by Hornbill Capital!

Vascon Engineers Share Price Performance

On October 9, 2025, Vascon Engineers share price opened at ₹70.56 on NSE, above the previous close of ₹70.42. During the day, it surged to ₹71.40 and dipped to ₹69.49. The stock is trading at ₹70.10 as of 1:31 PM. The stock registered a marginal change of -0.45%.

Over the past week, it has declined by 1.32%, over the past month, it has moved up by 25.79%, and over the past 3 months, it has moved up by 31.00%.

Conclusion

The ₹161.18 crore Saudamini Building redevelopment project, awarded to Vascon Engineers, marks another milestone in the company’s expansion in Mumbai’s high-value redevelopment market. The project aligns with the firm’s continued focus on sustainable construction, engineering excellence, and timely project execution.

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