Vascon Concludes Two Transactions worth INR 50 Crores

Deepthi | Myequity news | Date : 03-01-2019 16:58:00 IST

Vascon Engineers Ltd, one of the most trusted and renowned developer headquartered in Pune today announced that it has recently concluded two transactions worth Rupees Fifty Crores.

The first transaction comprised of sale of amenity plot along with school building to Infraschool Services Guragon Pvt Ltd for a total consideration of Rs36.50 crores.

The second transaction involved sale of land situated at Village Balewadi, Baner along with all other Joint Venture Partners to Keywest Realty Pvt Ltd. for a consideration of Rs. 100 Cr; Vascon's share in this sale is Rs13.10 crores.

Speaking about the development, Mr. Siddharth Vasudevan, Managing Director, Vascon Engineers Ltd, said, "Vascon has begun the New Year on a good note and the proceeds of these non-core asset sale transactions will ensure adequate liquidity for our operations in line with the company strategy".

About Vascon Engineers Limited

Vascon Engineers is one of the foremost listed real estate companies headquartered in Pune with over 30 years of experience delivering 200+ projects spanning over 50 million sq. ft. of landmark developments across residential, industrial, IT parks, malls and multiplexes, hospitality and community welfare centers in 30+ cities across India with EPC and its own Real Estate projects. Going forward the vision is to have focused business approach on EPC and Affordable Housing segment.

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