Mumbai: Vascon Engineers Ltd. (VASCONEQ), a leading EPC and real estate company with over 38 years of industry presence, has received a Letter of Intent (LOI) from MSEB Holding Company Limited for a major Redevelopment Project in Mahalaxmi, Mumbai.
The contract involves the redevelopment of the “Saudamini” Building situated at Plot No. 9, Haji Ali Park, Mahalaxmi. Valued at ₹161.18 crore (excluding GST and insurance), the Redevelopment Project is expected to be completed within a span of 36 months from commencement.
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Redevelopment Project in Mahalaxmi: Vascon Strengthens Presence in Mumbai
Announcing the development, Siddharth Vasudevan Moorthy, Managing Director of Vascon Engineers Ltd., said, “We are honoured to receive this important redevelopment project from MSEB Holding Company Limited. The project enhances our order book and underlines the confidence clients place in our ability to deliver complex, large-scale projects. Vascon remains focused on ensuring timely delivery and maintaining the highest quality standards.”
The Redevelopment Project in Mahalaxmi marks another addition to Vascon’s growing portfolio in Mumbai. The company’s existing projects, such as Vascon Orchids at Santacruz and Prakash CHS at Santacruz West, highlight its strategic emphasis on the redevelopment segment.
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Vascon’s current redevelopment pipeline across Santacruz, Powai, and other micro-markets encompasses approximately 0.4 million sq. ft., with an anticipated sales value of ₹1,050 crore.
By FY27, redevelopment-led initiatives in Mumbai are projected to contribute around 50% of Vascon’s total real estate portfolio.
Alongside its focus on real estate, the company is also pursuing EPC opportunities across Western India, particularly in institutional and infrastructure segments, thereby expanding its long-term order pipeline.
