Vascon Engineers bags LoI of Rs14.5 crore from Crest Ventures

10 Feb 2022 , 02:59 PM

Vascon Engineers Limited has received Letter of Intent (LOI) from Crest Ventures Limited.

As per regulatory filing, the Company has received Letter of Intent amounting to approximately Rs14.50 crore plus applicable taxes from Crest Ventures Limited for Shore Pile, Civil, Gypsum, Waterproofing & Allied Works for construction of residential cum commercial building consisting of part basements, podium parking and 11 residential floors at Crest Link (Dreamland) Khar (W), Mumbai.

The work has been awarded on Item Rate Basis. The work has to be completed within 18 months from the date of receipt of this letter of intent, the company said on Thursday.

At around 2:59 PM, Vascon Engineers was trading at Rs30 apiece down by Rs1.1 or 3.54% against previous closing of Rs31.10 apiece on the BSE.