Over 25 years of dedication and consistency Vascon has a well-diversified presence across the country with a good execution record. Nearly 183 completed projects and 76 ongoing EPC projects with an estimated order back log worth Rs. 31.68 bn which provides a strong revenue outlook. With a portfolio of ongoing and forthcoming real estate projects aggregating 6664.35 acres, it provides a good real estate portfolio. Vascon is one among the leading companies in the engineering and development industry. The company has diversified its focus from EPC to realty development and has successfully rendered good stability to revenues. Vascon has large real estate development business with focus on different land and project acquisition strategies that helps it to optimise the use of capital and de-risking. The JV model in some cases helps enhance the project portfolio and share project risks. In addition the joint development in some projects helps the company de-risk further. Its presence across all verticals like Residential, commercial, IT Parks, and malls and Multiplexes helps diversification.
Real estate developer Vascon Engineers Ltd has bought 90 per cent of the shares of GMP Technical Solutions Pvt Ltd, in an all-cash deal involving an outflow of Rs 62.60 crore.
GMP is a player in the clean room and office partitions space, and offers heating, ventilation and air conditioning design and supply, electrical and building management systems, epoxy and vinyl floorings and interlocking and access controls.
The acquisition will enable Vascon to offer turnkey projects in the hospital and pharmaceutical sectors, and add Rs 150 crore to the company's top line and Rs 30 crore to its net profit during the current fiscal, Mr R. Vasudevan, Managing Director, said.
The payment terms have been so structured that they can be managed through internal resources, he added.
Mumbai-based GMP has a manufacturing facility in Baddi, Himachal Pradesh, and reported a turnover of Rs 126.7 crore and PAT of Rs 21.73 crore during FY10.
During the first quarter of the current fiscal, Vascon posted a net profit of Rs 13.84 crore, a growth of 32 per cent year-on-year. Its income in the comparable quarters grew 45.8 per cent, to stand at Rs 205.1 crore.
While last year, 80-85 per cent of Vascon's revenues came from Engineering, Procurement and Construction (EPC) projects and the rest from real estate development, this year, the contribution from real estate projects will be higher at 25-30 per cent, Mr Vasudevan said.
Real estate developer Vascon Engineers Ltd has bought 90 per cent of the shares of GMP Technical Solutions Pvt Ltd, in an all-cash deal involving an outflow of Rs 62.60 crore.
GMP is a player in the clean room and office partitions space, and offers heating, ventilation and air conditioning design and supply, electrical and building management systems, epoxy and vinyl floorings and interlocking and access controls.
The acquisition will enable Vascon to offer turnkey projects in the hospital and pharmaceutical sectors, and add Rs 150 crore to the company's top line and Rs 30 crore to its net profit during the current fiscal, Mr R. Vasudevan, Managing Director, said.
The payment terms have been so structured that they can be managed through internal resources, he added.
Mumbai-based GMP has a manufacturing facility in Baddi, Himachal Pradesh, and reported a turnover of Rs 126.7 crore and PAT of Rs 21.73 crore during FY10.
During the first quarter of the current fiscal, Vascon posted a net profit of Rs 13.84 crore, a growth of 32 per cent year-on-year. Its income in the comparable quarters grew 45.8 per cent, to stand at Rs 205.1 crore.
While last year, 80-85 per cent of Vascon's revenues came from Engineering, Procurement and Construction (EPC) projects and the rest from real estate development, this year, the contribution from real estate projects will be higher at 25-30 per cent, Mr Vasudevan said.
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