Vascon Engineers Ltd Share Price

History of Vascon Engineers Ltd

Vascon Engineers Limited was incorporated on January 1, 1986 as a Private Limited Company with the name Vascon Engineers Private Limited. On August 25, 1997, the Company became a deemed Public Limited Company and the name was changed to Vascon Engineers Limited. The Company operate in the business of Engineering, Procurement and Construction (EPC) services and Real Estate Development with operations in a number of states and union territories in India. The company's EPC services include constructing factories, hospitals, hospitality properties, office and residential complexes, shopping malls, multiplexes, IT parks, and other buildings. It also engage into identification and acquisition of land; ownership/ operation in projects; and development of residential and office complexes, shopping ... malls, multiplexes, hospitality properties, IT parks, and other buildings. Vascon commenced its business as an EPC services company and then diversified into the real estate development including owning and operating selected projects directly or indirectly through their subsidiaries and the other development entities. In November 1986, the company completed their first contractual project namely the construction of a factory for Cipla Ltd at Patalganga. In December 1996, they completed the first project in the hospitality sector, Vista Do Rio Resorts, at Goa. In January 1999, the company completed the construction of Cipla Foundation's Palliative Care and Training Centre at Pune. In July 2000, they commenced the construction of townships project namely Marigold. In March 2003, the company completed the construction of bungalows project Paradise, which consists of 36 'stacked' bungalows at Baner in Pune, Maharashtra. Also, they completed the construction of IT Park, Marisoft - I, at Kalyani Nagar in Pune. In August 2005, the company completed the construction of Nucleus Mall, a project in the shopping and entertainment sector, at Pune, Maharashtra. In December 7, 2006, the company was converted into a public limited company. During the year 2006-07, Clover Resorts Pvt Ltd merged with the company with effect from April 1, 2006. The company also acquired the assets of Vascon Hadapsar Ventures, in which the company was a partner, pursuant to a deed of retirement cum dissolution dated May 29, 2007. In May 2009, the company obtained their first government contract for the construction of a hospital for National Building Construction Corporation Limited in Chennai. As of December 31, 2009, the company had completed an aggregate of 181 EPC Contracts with a total contract value of Rs. 8,888.70 million. Also, they had completed 157 EPC Contracts with a total contract value of Rs. 6,562.81 million for third parties. As of December 31, 2009, the company was engaged in 47 EPC Contracts with an estimated total contract value of Rs 18,912.66 million and has an Order Backlog of Rs. 12,147.36 million. During the year 2009-10, Company completed Initial Public Offering of 10,800,000 Equity Shares of Rs. 10/- each at a premium of Rs. 155/- per Equity Share, which was open from January 27, 2010 to January 29, 2010 and the resultant, the Company's shares were listed on Bombay Stock Exchange Limited and National Stock Exchange of India Limited on February 15, 2010. During 2009-10, Company acquired one new subsidiary Caspia Hotels Private Limited. Rose Premises Private Limited ceased to be a subsidiary of the Company due to sale of shares. The Global Management Headquarters Project for Suzlon Energy at Hadapsar, Pune which costed Rs 936 million was completed in FY 2010. Other projects such as Matrix, IT Park located at Shivajinagar, Pune, Maharashtra, Weikfield IT City Info Park - C Block was completed in year 2010. The Company purchased GMP Technical Solutions Private Limited, an Integrated provider of Engineering services, in August 2010. It acquired two new companies, Almet Corporation Limited and Marathwada Realtors Private Limited in 2011-12. Angelica Properties Private Limited, Sunflower Real Estate Developers Pvt. Ltd. , Sansara Developers Pvt. Ltd. Shreyas Strategies Pvt. Ltd. became Subsidiary of Company during FY 2016. The Company acquired balance 35% shares in Greystone Premises Pvt. Ltd. making it a wholly owned subsidiary of the Company in 2016. In FY2017-18, it launched both residential and commercial projects namely: Forest Edge and Platinum Square respectively. Company's Project Forest Edge; in addition to these, it had also launched affordable housing schemes under the Brand name of Vascon Good Life at Katvi, Talegaon during FY 2018. On 11 August, 2017, Vascon Values Homes Private Limited was incorporated as Wholly Owned Subsidiary of Company. 11 Subsidiaries namely Angelica Properties Private Limited, Floriana Properties Private Limited, Greystone Premises Private Limited, It-Citi Infopark Private Limited, Vascon Dwellings Private Limited, Vascon Pricol Infrastructures limited, Wind Flower Properties Private Limited, Just homes india Private Limited, Shreyas Strategists Private Limited, Sansara Developers India Private Limited, Sunflower Real Estate Developers Private Limited were merged with Company w.e.f. 21st June, 2017. During the year 2017-18, through approval of slump sale of Mumbai Division of M/s GMP Technical Solutions, the Business Transfer Agreement was executed between GMP Technical Solutions Pvt. Limited and M/s Innovative Core Solutions Private Limited, for a consideration of Rs. 18 cr. on 16th November, 2017. During year 2018-19, Vascon EPC Limited was incorporated as Wholly Owned Subsidiary of Company effective on January 7, 2019. Vascon Saga Construction LLP was incorporated as Joint Venture with Saga Infra Solutions on February 27, 2019. In 2019, Company launched Phase-II of Forest Edge- First ever Health Tech Home in Pune, spread over ~3.4 acres. In 2021-22, Vascon sold its stake in its Associate Company: Cosmos Premises Private Limited to Royal Orchid Hotels Limited on February 17, 2022 and thus Cosmos Premises Private Limited ceases to be a Associate Company of Vascon. Pursuant to acquisition of 92% stake in River Shore Developers Private Limited, the said Company became a subsidiary of the Company in 2022. In 2022, the Company launched Phase-III of the Tulip as residential project in Coimbatore, Tamil Nadu. Further, it launched Forest County- Residential Project in Kharadi, Pune with two towers consisting of 132 units comprising 2 and 3 BHK apartments with sizes of 1,150 sqft to 1,685 sqft. In 2023-24, a Signature Luxury Residential Project in Koregaon Park, Pune 'Windermere' was launched with the total site area of 4.75 acres, which is developed in 2 phases. Vascon Goodlife - First Ever Value Housing Project in Katvi, Talegaon Vascon Goodlife - Value Housing Project, spread across 10 acres of land, offering 1RK, 1BHK and 2BHK homes aims at providing not just affordable, but value homes with a strong focus on nurturing learning and growth making it a first-of-its kind learning infrastructure in a residential project. Moreover, Citron Phase II, launched a 15 story L-shaped building comprising 1BHK & 2 BHK apartments, to offer best-in-class housing, to ultimately become the landmark project of Wagholi. In FY 2025, Company completed Raj Bhavan - Chief Minister House Raipur Project, Metro Shed of Bangalore Metro Rail Corporation Limited (BMRCL) at Bangalore, Adampur Airport and PMAY in Pune. It launched Vascon Goodlife, Tulip Phase III, Windermere Residential, and Tower of Ascend, Powai, Kharadi & Baner over 2 million sq. ft area, Santacruz Pipeline 2.