The shares of this real estate company gained up to 8 percent after the company received a letter of Intent from the Municipal Secretary’s Department – Pimpri-Chinchwad Municipal Corporation, Pune of Rs. 356.78 Crores
With a market capitalization of Rs 1,714.32 crores, Vascon Engineers Ltd. On Tuesday, the shares were trading at Rs 77.46 a share, an increase of 4 percent from the previous close price.
According to the exchange filing, Vascon Engineers Ltd received an order for the construction of a general hospital building for PCMC Hospital of Rs 356.78 crores from Pimpri Chinchwad, Municipal Corporation – Municipal Secretary’s Department, and the work has to be completed within 36 months from the date of acceptance.
Looking into the company’s finances, Vascon Engineers Ltd. revenue decreased by 0.11 percent from Rs 217.34 Crore in Q2FY23 to 217.1 Crore in Q2FY24. During the same period, net profits decreased by 35 percent from Rs 7.19 crore to Rs 4.67 crore.
The stock has delivered a multi-bagger return of 112.93 percent in six months and 143.40 percent in a year. As a result, if an investor bought Rs 1 lakh shares in the company, their shares are now worth 2.43 lakhs in a year.
Vascon Engineers Ltd.’s recent shareholding pattern, The Promoters of the company own 32.2 percent while Retail shareholders own a 66.81 percent stake in the company.
Vascon Engineers Ltd. reported an increase in return ratio from the previous financial year, a return on equity (ROE) increased from 4.82 percent to 11.62 percent and a return on capital employed (ROCE) increased from 6.93 percent to 11.58 percent.
Vascon Engineers has over 37 years of experience in the design, development, construction, and management of a wide range of projects. It is present in a variety of industries and sectors, including hospitality, IT parks, residential, and retail.
Written by:- Abhishek Singh
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