Shares of Vascon Engineers hit a 52-week high of Rs 78.50 on 9 October after the company announced receiving a LoA (Letter of Acceptance) from the State-owned Bridge and Roof Company.

The company has received an order for Rs 262.19 crore for planning, designing, constructing, and maintaining a Government Medical College at Kanker in Chhattisgarh. It is also expected to execute IT networking-related works at the facility.

In its regulatory filing, the company said, “The work has to be completed within 24 months from the date of commencement.”

In its quarterly report for the April-June quarter, the company reported a 1.49% YoY increase in its revenue from operations at Rs 204 and a 9.09% YoY increase in its net profit at Rs 12 crore for the same period.

The company specialises in construction, real estate development, and infrastructure projects and is also engaged in the business of building commercial spaces, residential complexes, IT Parks, and industrial facilities.

At 3:30 pm, the shares of Vascon Engineers closed at Rs 73.35 or 1.10% above its previous close on NSE.