Shares of Vascon Engineers gained 9 percent to hit 52-week high of Rs 65.57 in the early trade on August 24 after the company received work order worth Rs 605.7 crore from Bihar government.
Vascon Engineers has received Letter of Acceptance from Bihar Medical Services & Infrastructure Corporation Limited (A Government of Bihar undertaking), for construction of Lohia Medical College & Hospital including hospital and residential building, Supaul.
The work has been awarded on ‘EPC basis’ and has to be completed within 36 months from the date of receipt of Letter of Acceptance.
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The company has posted 12 percent jump in its June quarter net profit at Rs 11.90 crore and revenue was up marginally at Rs 204.46 crore.
Vascon Engineers an EPC services company, has diversified into real estate development, including owning and operating selected projects directly or indirectly through the Subsidiaries and the Other Development Entities in the past few years.
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