The order is for the construction of four G+12 FLL-type buildings for Sector-3 at the RG Expansion Project, Jamnagar. The contract has been awarded on a Bill of Quantities (BOQ) basis.
“We are pleased to inform that Vascon Engineers Limited has received a Letter of Intent amounting to ₹131.58 Crore [One Hundred & Thirty One Crore Point Fifty Eight Lakh (excluding GST)] from Reliance Industries Limited for “construction of 04 Nos G+12 FLL Type Buildings for Sector-3 at RG Expansion Jamnagar”. The work has been awarded on a “Bill of quantities (BOQ) basis,” according to a stock exchange filing.
The work is to be completed within 19 months from the date of receipt of the order. The company said the order has been awarded by a domestic entity, and the nature of the contract is domestic.
Also Read: Vascon Engineers shares fall 4% after steep revenue drop, margins shrink in Q4Fourth Quarter Results
The company’s revenue for the quarter declined 32% year-on-year to ₹259 crore, compared to ₹385 crore in the same period last year. Operating performance also remained under pressure, with EBITDA falling 61% to ₹16 crore from ₹42 crore a year earlier. EBITDA margins narrowed to 6% from 11% in the corresponding quarter last year.
Net profit for the quarter dropped sharply by 83% to ₹6 crore, compared to ₹34 crore in Q4FY25. The company said that the year-ago quarter had benefited from an exceptional gain of ₹75 crore, which supported profitability.
Despite the weak quarterly performance, Vascon Engineers reported a total order book of ₹2,717 crore. External EPC orders accounted for ₹2,387 crore of the total order pipeline, while EPC project inflows during FY26 stood at ₹762 crore.
Also Read: Vascon Engineers Q2 Results: Profit up 11% YoY, revenue rises 13%
Shares of Vascon Engineers Ltd ended at ₹33.32, down by ₹1.75, or 4.99%, on the BSE.
Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
(Edited by : Jomy Jos Pullokaran)
First Published: May 18, 2026 4:47 PM IST
