The contract is for planning, designing, construction, IT (networking) and maintenance of Government Medical College at District Kanker, Chhattisgarh, under Chhattisgarh Medical Services Corporation, Government of Chhattisgarh. The work has been awarded on ‘EPC basis'.

The work has to be completed within 24 months from the date of commencement, the company added.

Vascon Engineers is engaged in the EPC, real estate construction and development business. The real estate business of VEL comprises construction of residential and office complexes along with information technology parks, industrial units, shopping malls, multiplexes, educational institutions and hotels. Under the EPC segment, VEL has executed construction contracts. It primarily caters to government departments and authorities.

The company's consolidated net profit rose 10.1% to Rs 11.90 crore on 1.6% increase in net sales to Rs 204.46 crore in Q1 FY24 over Q1 FY23.

The counter hit a 52-week high of Rs 78.45 in intraday today, on the BSE.