Vascon Engineers shares zoom 14% on order win from Qualcomm India  

Shares of Vascon Engineers Ltd zoomed 14% on Friday after the realty firm said it has received a work order from received work order from Multinational IT Company Qualcomm India Private Limited.

Vascon Engineers shares rose 14% to Rs 37.84 against the previous close of Rs 33.32. Market cap of the  firm rose to Rs 796.81 crore. The value of the order is Rs 6.60 crore.

The order is for the Development of an office facility (Block K) comprising three basements, Ground + 12 floors, and associated infrastructure at Bengaluru.

The work has to be completed within 30 months from the date of site handover.

"Vascon Engineers Limited has received work order amounting to Rs. 660.79/- (Rupees Six Hundred & Sixty Crore and Seventy-Nine Lakhs only) (Including Taxes) from Multinational IT Company Qualcomm India Private Limited for “Development of an office facility (Block K) comprising three basements, Ground + 12 floors, and associated infrastructure at Bengaluru,” said Vascon Engineers.

Vascon Engineers Ltd. is a multifaceted construction and real estate company with a presence across India. The company operates through two primary segments: Engineering, Procurement, and Construction (EPC) and Real Estate (RE) Development.