Vascon Engineers Wins Major ₹161 Crore Redevelopment Deal in Mumbai’s Mahalaxmi

Vascon Engineers Limited has secured a ₹161 crore project for the redevelopment of the Saudamini Building in Mumbai’s Mahalaxmi area. The project, awarded by MSEB Holding Company Ltd, marks another step in the company’s growing focus on redevelopment projects across the city.

Redevelopment Project in Mahalaxmi

The newly awarded project is scheduled for completion within 36 months from the commencement of work. The redevelopment of the Saudamini Building aligns with the company’s strategic focus on strengthening its footprint in Mumbai’s high-potential real estate market. 

Strengthening Presence in Mumbai’s Real Estate Market

Vascon Engineers has been expanding its redevelopment activities across key Mumbai neighbourhoods. The company has ongoing and planned projects such as Vascon Orchids in Santacruz and Prakash CHS in Santacruz West. Additionally, the redevelopment pipeline in Santacruz, Powai, and other micro-markets represents approximately 0.4 million square feet of development, translating to an estimated sales value of ₹1,050 crore.

According to the company, the ongoing and upcoming Mumbai projects are expected to contribute around 50 per cent of its overall real estate portfolio by FY27. This demonstrates a clear strategy to leverage redevelopment opportunities in densely populated urban areas while maintaining project timelines and quality standards.

Expanding EPC Opportunities

Alongside real estate redevelopment, Vascon Engineers continues to pursue Engineering, Procurement and Construction (EPC) opportunities across Mumbai and Western India. The company has been actively bidding for tenders in institutional and infrastructure segments, further diversifying its project base and strengthening its long-term order pipeline.

Vascon Engineers Share Price Update

As of 2:30 PM IST on October 10, Vascon Engineers share price stood at ₹72.20, reflecting a gain of ₹0.97 or 1.36% from the previous close of ₹71.23. The stock opened at ₹71.59 and traded within a day’s range of ₹71.30 to ₹74.59. 

Over the past 52 weeks, the share has traded between ₹31.98 and ₹74.59, with a market capitalisation of ₹1,611.84 crore. The trading volume reached 98,71,808 shares, indicating sustained investor interest in the company following recent project announcements.

Read more: Adani Enterprises Issues 100,000 NCDs in Private Placement Worth ₹1,000 crore

Conclusion

The Mahalaxmi redevelopment project further reinforces Vascon Engineers’ ongoing efforts to expand its presence in Mumbai’s real estate landscape. With a growing redevelopment pipeline and continued focus on EPC ventures, the company aims to maintain operational momentum and steady growth through FY27.

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