Vascon's Collaboration with Adani as Execution Partner

Vascon Engineers Limited ("Vascon") has entered into a Memorandum of Understanding (MoU) with Adani Infra (India) Limited ("Adani") today to collaborate as their Execution Partner under an Early Engagement Model for Five Years.

Under this arrangement, Vascon will be associated with Adani on selected earmarked projects right from the design stage, thereby ensuring seamless integration of design and execution. At present, three projects totaling approximately 13.15 million sq. ft. have already been identified under this model at Mumbai.

As part of the current objectives, Vascon aims to engage with Adani Group on projects contributing additionally equivalent to 30% of Vascon's annual turnover. This collaboration is envisioned 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 organizations, and we look forward to building a strong and successful partnership with Adani.

Shares of Vascon Engineers Limited was last trading in BSE at Rs. 57.89 as compared to the previous close of Rs. 61.19. The total number of shares traded during the day was 348390 in over 2859 trades.

The stock hit an intraday high of Rs. 60.50 and intraday low of 57.55. The net turnover during the day was Rs. 20438298.00.

Source : Equity Bulls

Keywords

VasconEngineers INE893I01013 Realty MoU AdaniInfraIndia ExecutionPartner