Pune-based construction firm Vascon Engineers has received the letter of intent for a contract worth Rs 126.39 crore to build a 300-bed general hospital in Wardha, Maharashtra, the company informed stock exchanges.

Vascon Engineers bags Rs 126.39 crore Wardha hospital construction order 

The Letter of Intent came from the Executive Engineer, Public Works Department, Arvi Division, Wardha, Nagpur. The contract covers the development of the hospital and has been awarded on an item rate basis.

Vascon said the work must be completed within 24 months of receiving the order. The company also stated that the contract does not fall within the ambit of related party transactions.

Vascon Engineers Q4 FY26 net profit falls 84%, sales decline 35% 

The new order follows a sharp fall in the company’s fourth-quarter earnings. Vascon’s consolidated net profit for Q4 FY26 dropped 83.54% year-on-year to Rs 5.72 crore, down from Rs 34.77 crore in the same quarter last year.

Net sales for the quarter also declined, falling 34.61% year-on-year to Rs 253.08 crore in Q4 FY26. The fresh hospital contract could help shore up the company’s order book going into the current fiscal year.

Vascon Engineers’ business, projects and order book 

Vascon Engineers, listed on both the BSE and the NSE, operates across engineering, procurement and construction, along with industrial, residential, commercial and institutional projects. The company is headquartered at Vascon Weikfield Chambers in Pune.

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The Wardha hospital project adds to the company’s order book in the institutional and healthcare infrastructure space, an area where several state governments have stepped up spending in recent years to expand public health facilities in tier-2 and tier-3 towns.

Vascon Engineers Share Price

Vascon Engineers’ share price has been down 2.87% as of the market opening on Thursday. The stock is down 3.59% in the past month, and it has been down 36.24% in the past year.