Vascon Engineers Limited has announced that it has received a Letter of Intent (LOI) from MSEB Holding Company Limited for the redevelopment of the “Saudamini” Building, located at Plot No. 9, Haji Ali Park, Mahalaxmi, Mumbai. The project is valued at Rs 161.18 crore, excluding GST and insurance, and is slated for completion within 36 months.
The redevelopment work, awarded by a domestic entity, reinforces Vascon Engineers’ strong presence in Mumbai’s real estate sector. The company has confirmed that none of its promoters or promoter group members have any interest in the awarding entity, ensuring transparency and governance. Additionally, the order does not qualify as a related party transaction.
With a proven track record in delivering complex residential and commercial projects, Vascon Engineers continues to position itself as a reliable partner for large-scale urban redevelopment initiatives. The company’s timely execution and focus on quality are expected to contribute positively to its growth trajectory and financial performance in the coming years.