Vascon Engineers surges on strengthening presence in Mumbai
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Vascon Engineers is currently trading at Rs. 27.80, up by 0.95 points or 3.54% from its previous closing of Rs. 26.85 on the BSE.
The scrip opened at Rs. 28.35 and has touched a high and low of Rs. 28.40 and Rs. 27.50 respectively. So far 52696 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 36.70 on 12-Jan-2022 and a 52 week low of Rs. 18.60 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 28.40 and Rs. 26.25 respectively. The current market cap of the company is Rs. 598.71 crore.
The promoters holding in the company stood at 31.99%, while Institutions and Non-Institutions held 0.02% and 68.00% respectively.
Vascon Engineers has strengthened its Mumbai presence by signing its first redevelopment project for Ohm Sainath Cooperative Housing Society located at Santacruz (West) with a total construction area of approximately 180,000 square feet.
The said project is located in a strategic location on the main Linking Road being well-connected to the Airport, Railway Station etc. Lying with the Western Express Highway on one side & Juhu Beach on the other, it is known for its excellent social infrastructure and is abode of high net worth individuals. The Company is expecting to complete the project in about 3 years and also generate total revenue of more than Rs 225 crore.
Vascon Engineers is one of the foremost listed real estate companies headquartered in Pune with over 30 years of experience delivering 200+ projects spanning over 50 million square feet of landmark developments across residential, industrial, IT parks, malls and multiplexes, hospitality and community welfare centers.
