CT Logo

Vascon Engineers Ltd. one of the leading EPC and Realty players with a legacy spanning nearly four decades, has received a Letter of Intent (LOI) from MSEB Holding Company Limited for the redevelopment of the "Saudamini" Building at Plot No. 9, Haji Ali Park, Mahalaxmi, Mumbai.

The project is valued at ₹161.18 crore (excluding GST and insurance) and is scheduled for completion within 36 months from the start of work. This project adds to Vascon's experience in redevelopment work and expands its presence in Mumbai's real estate sector.

Commenting on the announcement, Mr. Siddharth Vasudevan Moorthy, Managing Director, Vascon Engineers Ltd., said, " We are delighted to have been entrusted with this significant redevelopment project by MSEB Holding Company Limited. This project strengthens our order book and reflects the confidence our clients have in our ability to execute large-scale projects in Mumbai. We will focus on delivering this project to the expected quality standards and within the agreed timeline.”

In Mumbai, Vascon has reinforced its redevelopment-led strategy with projects such as Vascon Orchids at Santacruz and Prakash CHS at Santacruz West. The redevelopment pipeline in Santacruz, Powai and other micro-markets collectively accounts for approximately 0.4 million square feet, representing an expected sales value of INR 1050 crore. Mumbai’s ongoing and planned launches are expected to contribute around 50 percent of the company’s overall real estate portfolio by FY27. Alongside real estate redevelopment, EPC opportunities in Mumbai and Western India are also being actively pursued, with tenders in institutional and infrastructure projects adding to the company’s long-term order pipeline.