1 hr ago
Vascon Engineers Wins Rs 661 Crore Qualcomm Bengaluru Office Project
Vascon Engineers received a large construction contract from Qualcomm India.
The contract is worth about Rs 661 crore, including taxes.
The work will take place in Bengaluru.
The planned office will have three underground levels, a ground floor and 12 floors above it.
The project also includes related infrastructure work.
It is expected to be completed within 30 months.
The reported completion period begins from site handover, while the company filing also refers to execution.
Investors reacted positively, and Vascon’s shares rose more than 4% during Friday’s trading.
Vascon Engineers secured a Rs 660.79 crore contract from Qualcomm India Private Limited.
The project involves developing an office facility in Bengaluru, Karnataka.
The facility will include three basements, a ground floor and 12 upper floors.
Associated infrastructure work is also included in the design, build and GMP contract.
Vascon Engineers shares rose more than 4% intraday after the announcement.
- Who
- Vascon Engineers and Qualcomm India Private Limited.
- What
- Vascon Engineers won a Rs 660.79 crore contract to develop a Qualcomm office facility and associated infrastructure.
- Where
- Bengaluru, Karnataka, India.
- When
- The project is scheduled for completion within 30 months from site handover; the company filing also refers to execution.
- Why
- Qualcomm India awarded Vascon a design, build and GMP contract for the office development.
Key facts
- Contract value
- Rs 660.79 crore, including taxes
- Awarding company
- Qualcomm India Private Limited
- Project location
- Bengaluru, Karnataka
- Facility design
- Three basements, ground floor plus 12 floors
- Contract scope
- Design, build, GMP and associated infrastructure work
- Completion period
- 30 months from site handover, according to the project details
- Share-price reaction
- Vascon Engineers shares rose more than 4% in Friday intraday trading
Quotes
Vascon Engineers Limited
The construction and real estate development company issuing the exchange filing
“We are pleased to inform that 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,””
financialexpress.com
Sources
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