Vascon Engineers Ltd has received Letter of Intent amounting to approximately Rs5.62 crore plus applicable taxes from Crest Ventures Limited.
The LoI is for Civil, Gypsum, Waterproofing & Allied Works for construction of residential cum commercial building consisting of part basements, and G+9 floors at Crest Park (Bashiron), Bandra (W), Mumbai.
Further, the work has been awarded on Item Rate Basis. The work has to be completed within 8 months from the date of receipt of this letter of intent, said company.
At around 9:29 AM, Vascon Engineers was trading at Rs28.15 apiece up by Rs0.85 or 3.11% against its previous closing of Rs27.30 apiece on the BSE.
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