Vascon Engineers has secured a ₹115.90 crore contract from the Ahmedabad Municipal Corporation for the development of Lotus Park in Ahmedabad. The project will be executed on an EPC basis with a 24-month completion timeline.
The Lotus Park project spans 54,000 square metres in the South West Zone of Ahmedabad and is part of the Building Project of Ahmedabad Municipal Corporation. This new contract enhances Vascon’s order book, which currently stands at ₹2,825 crore, providing a 2.8x coverage of FY25 EPC revenues. The company, with a capacity to execute approximately 8 million square feet annually, is operating at 90% utilisation, supported by a team of over 800 project and engineering professionals.
Mr. Siddharth Vasudevan Moorthy, Managing Director of Vascon Engineers, expressed excitement about partnering with the Ahmedabad Municipal Corporation, highlighting the project’s potential to improve urban life quality in Ahmedabad. He emphasised Vascon’s commitment to delivering transformative civic infrastructure and its vision to be a preferred partner for public infrastructure development.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).