Vascon Engineers Targets Orders Worth Rs 1,200 Crore In FY26

Construction engineering firm Vascon Engineers Ltd. is aiming for orders worth Rs 1,200 crore in FY26 on the back of a strong pipeline of new projects. The company will achieve Rs 1,000 crore of order booking compared to the guidance of Rs 1,500 crore for the financial year 2024-2025, according to its Managing Director Siddharth Vasudevan Moorthy.

“The total that we were looking at this year was actually Rs 1,200 crore. Now, it’s Rs 1,000 crore this year and Rs 1,200 crore next year. The reason for this is that we sold out GMP (Guaranteed Maximum Price) last year, so we wouldn't get revenues from there. However, last year we did Rs 1,000 crore with around Rs 300 crore coming from GMP, which was our subsidy. So, this year without GMP, we will be doing the same revenue as last year. It's actually quite good when you look at it that way,” he said in a conversation with NDTV Profit.

The company’s order book currently stands at Rs 2,800 crore, and several projects in the pipeline are pending for Letter of Intent (LoI). The engineering, procurement, and construction (EPC) firm expects to execute orders worth Rs 300 crore from the pending projects in the remaining few days of the last quarter of the financial year ending March 2025.

“The order book currently stands at roughly Rs 2,800 crore, the order backlog, and we will be executing another Rs 300 crore in the current quarter out of that. But we already have jobs where we are L1 (lowest bidder), where we are waiting for the LOIs (letters of intent) to get through. So overall, I think we'll be back at around Rs 2,800 crore at the end of the year,” Moorthy said.

Responding to a question on which cities the company is targeting, he said, “The focus will be on Mumbai and Pune. Pune being our hometown, we would obviously like to do more real estate over there. But yes, we have a small presence in Coimbatore as well. We'd like to keep that going.”

Shares of Vascon Engineers closed 0.21% higher at Rs 34.08 apiece on the NSE on Wednesday, compared to the benchmark Nifty50 settling flat at 22,470.5, down 0.12%.