The project entails construction of general hospital building for PCMC Hospital at Moshi, Pimpri Chinchwad in Pune.

The work has to be completed within 36 months from the date of acceptance. The letter of intent has been awarded on “item rate basis”.

Vascon Engineers is engaged in the EPC, real estate construction and development business. The real estate business of VEL comprises construction of residential and office complexes along with information technology parks, industrial units, shopping malls, multiplexes, educational institutions and hotels. Under the EPC segment, VEL has executed construction contracts. It primarily caters to government departments and authorities.

The company's consolidated net profit declined 8.8% to Rs 20.66 crore on 0.1% decrease in net sales to Rs 217.10 crore in Q2 FY24 over Q2 FY23.