Vascon Engineers Limited saw its shares jump over 11% in morning trade following a major strategic announcement. As of 9:17 AM, the shares were trading 11.01% higher at Rs 64.25.
The company has signed a Memorandum of Understanding (MoU) with Adani Infra (India) Limited, positioning itself as an Execution Partner under an Early Engagement Model for the next five years.
Under this partnership, Vascon will collaborate with Adani Infra on selected projects right from the design stage, ensuring seamless integration between design and execution. Currently, three key projects in Mumbai, totaling approximately 13.15 million sq. ft., have been earmarked under this model.
Vascon aims to leverage this collaboration to contribute an additional 30% to its annual turnover. The partnership is structured as a long-term strategic engagement, with performance and scope reviews conducted annually.
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