Vascon Engineers secures ₹131.58 cr contract from Reliance
Vascon Engineers secured a ₹131.58 cr construction contract from Reliance Industries for four residential buildings in Jamnagar, expected to complete in 19 months. The stock rose 5% to ₹34.57, indicating positive market sentiment.
pre-market1 source ↓written by the desknot a recommendation
- from Reliance Industries
- ₹131.58 cr
- be completed
- 19 months
- The stock surged
- 5%
- ₹34.57
- a P/E
- 15.36
Vascon Engineers received a Letter of Intent worth ₹131.58 cr from Reliance Industries for constructing four G+12 residential buildings at the RG Expansion project in Jamnagar. The project is expected to be completed within 19 months, enhancing near-term revenue visibility for the firm.
The stock surged 5% to ₹34.57, reflecting positive market sentiment as it trades at a P/E of 15.36. This contract could bolster Vascon's EPC book, which previously saw a 12% revenue contraction in FY26.
Not investment advice. For informational purposes only.