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%.
