Vascon Engineers inks JV agreement for commercial project in Kharadi, Pune

14 Nov 2022 , 03:04 PM

Vascon Engineers Limited has entered into a Joint Development Agreement (JDA) on Monday.

Vascon has signed the JDA with Landowner to develop a commercial project at Kharadi a well-established and growing market of Eastern Pune. This project will offer approximately 2.15 Lakhs square feet of development area and will be developed as a Retail and office premises.

Vascon has already developed more than 15 lakh square feet residential project in Kharadi, and this project will significantly strengthen Vascon’s Commercial portfolio in Eastern Pune.

Commenting on this Siddharth Vasudevan, Managing Director, Vascon Engineers Ltd said, “I am happy that we are moving a step ahead with this towards our vision and focus for Real Estate business. This project will give us a commercial launch in East Pune after 5 years.

We have had our success in commercial projects in East Pune in Viman Nagar & Kalyani Nagar, now Kharadi will add on to the portfolio as well.”

At around 3:01 PM, Vascon Engineers Ltd is currently trading at Rs31.90 per share up by Rs0.7 or 2.24% from its previous closing of Rs31.20 per share on the BSE.

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