Penny stock under Rs 40 with Rs 2,825 crore order book: Company receives Rs 115.90 crore order from Ahmedabad Municipal Corporation for Lotus Park development

The share price of Vascon Engineers Ltd closed at Rs 34.7 on March 12, 2026, up 1.70 per cent during the closing. The stock surged after the company announced that it had received a Letter of Intent from the Ahmedabad Municipal Corporation (AMC) for the development of Lotus Park in Ahmedabad, a project valued at around Rs 115.90 crore.

Vascon Engineers receives Rs 115.90 crore EPC order from Ahmedabad Municipal Corporation

Vascon Engineers Ltd has received a Letter of Intent from the Ahmedabad Municipal Corporation (AMC) for the development of Lotus Park in Ahmedabad. The project will be developed on 54,000 square metres in the South West Zone of the city and is valued at around Rs115.90 crore.

The project will be executed on an Engineering, Procurement, and Construction (EPC) basis, with a completion timeline of 24 months from the date of the work order. The order further strengthens the company’s EPC Order Book and adds to its municipal infrastructure project portfolio.

Management Commentary

Commenting on the announcement, Mr. Siddharth Vasudevan Moorthy, Managing Director, Vascon Engineers Ltd., said, “We are excited and honoured to partner with Ahmedabad Municipal Corporation in the development of Lotus Park, a landmark public infrastructure project that will enhance the quality of urban life for the citizens of Ahmedabad. This project reflects our deepening engagement with municipal bodies across India and our commitment to delivering transformative civic infrastructure through our integrated EPC capabilities. As we continue to scale our EPC business, wins such as this reinforce stakeholder confidence in Vascon's execution strengths and our vision to be a preferred partner for impactful public infrastructure development.”

About the Company

Vascon Engineers Ltd is a Pune-based engineering, procurement, and construction (EPC) and Real Estate development company with over four decades of experience in the infrastructure and real estate sectors. The company operates across EPC contracting and premium housing development, delivering projects in segments such as residential, industrial, IT parks, malls, hospitality, and community infrastructure.

Over the years, Vascon Engineers has completed more than 225 projects covering over 45 million square feet of development and has a presence in more than 30 cities across India. The company continues to focus on expanding its EPC business while maintaining its presence in the premium residential segment.

Vascon Engineers Ltd has a market capitalisation of around Rs 796 crore. The company reports a return on capital employed (ROCE) of about 7.76 per cent and a return on equity (ROE) of around 6.59 per cent. The stock is currently trading at a price-to-earnings (P/E) ratio of about 10.4, which is lower than the industry P/E of around 26.4. Additionally, the stock is trading at around 0.70 times its book value.

Disclaimer: The article is for informational purposes only and not investment advice