Shares of Vascon Engineers surged by 6% following the announcement of a significant contract win worth ₹225.46 crore from Royal Rides Pvt Ltd for a prestigious infrastructure project in Goa. As of 10:31 AM, the shares were trading 6.86% higher at Rs 44.25.
The company has received a Letter of Intent (LoI) to design and build two terminal buildings and ropeway tower works at Panaji and Reis Magos, marking a major boost for tourism and connectivity in the region.
This turnkey project, awarded on an EPC (Engineering, Procurement, and Construction) basis, includes comprehensive site development and the construction of modern ropeway terminal infrastructure. With a completion timeline of 36 months from the date of the LoI, the project is expected to enhance intercity travel and tourist mobility across the scenic coastal state.
Vascon Engineers will handle the entire execution process—from planning and design to final construction—reinforcing its strong position in India’s infrastructure sector. The total contract value, excluding GST and labour cess, reflects the scale and significance of the development.
Vascon Engineers shares opened at ₹43.40, reaching a high of ₹45.38 and a low of ₹43.16 during the session. The stock remains well below its 52-week high of ₹83.90, though it’s above the 52-week low of ₹31.98.
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