Vascon Engineers shares rally 14%: Here is why the stock hit 52-week high today

As part of the MoU, Vascon will partner with Adani on select earmarked projects from the design stage, enabling seamless integration of planning and execution. Currently, three projects in Mumbai, covering around 13.15 million sq. ft., have been identified under this model.

Vascon aims to collaborate with the Adani Group on projects expected to contribute an additional 30% of its annual turnover. The tie-up is positioned as a long-term strategic partnership, with the scope and performance of the arrangement to be reviewed annually.

“This milestone is not just a step forward, it’s a leap towards something greater, and it marks the beginning of an exciting new chapter. We are confident that this engagement will create significant value for both organisations, and we look forward to building a strong and successful partnership with Adani,” Vascon said in a regulatory filing.

In March, Vascon Engineers launched Vascon Orchids, a luxury residential project in Santacruz (West), marking the company’s debut in the Mumbai market.

Meanwhile, according to news reports, the Pune-based firm aims for an EPC order book of ₹4,000 crore and real estate projects worth ₹2,500 crore by FY27. Currently, Vascon is executing projects in 13 cities, with its EPC business comprising a 75:25 split between government and private clients.

At 10:30 AM, shares of the company were trading at ₹64.95 apiece on the National Stock Exchange, soaring 12.21%.

Over the past month, Vascon Engineers shares have risen more than 28%. Since April 1 (six months), the stock has gained 64.5%, and from January, it has surged 16%.

The company’s market capitalisation stands at ₹1,469.96 crore.

Founded in 1986, Vascon Engineers brings over 37 years of expertise in conceiving, developing, constructing, and managing diverse projects. The company operates across multiple sectors, including residential, industrial, IT parks, malls and multiplexes, hospitality, community welfare centres, schools, and hospitals.