Vascon Engineers jumped as much as 14% on Friday, hitting a day high of Rs 38, after bagging a Rs 660.79 crore order from Qualcomm India.

Qualcomm India has handed Vascon a design and build contract to construct a new office facility for the company in Bengaluru.

The project, referred to as Block K, will include three basement levels along with a ground floor plus 12 storeys above it, along with the supporting infrastructure.

Vascon has 30 months to finish the work, counted from the day the site is officially handed over to the company. This isn’t Vascon’s only recent win either.

Just last month, the company had picked up a letter of intent worth Rs 126.4 crore from the Public Works Department in Nagpur, for building a general hospital.

Back in June, it had also secured a redevelopment contract worth Rs 347.43 crore from CPWD for RBI staff quarters in Guwahati.

Together, these wins have added meaningfully to the company’s order pipeline over the past few months.

The order book boost comes at a time when Vascon’s own numbers have looked soft.

In its June quarter results, profit fell sharply to Rs 2.01 crore from Rs 22.47 crore a year earlier, while revenue slipped to Rs 151.94 crore from Rs 221.18 crore.

Earnings before interest, tax and depreciation, a measure of core operating profit, also came down to Rs 4.94 crore from Rs 13.03 crore, and margins narrowed as well.

At 13:00 pm, shares of Vascon Engineers were last trading at Rs 34.45 on the NSE, up 3.48% for the day, valuing the company at a market capitalisation of around Rs 798 crore.

The stock has gained close to 13.5% over the past week, though it still remains well below its 52 week high of Rs 74.59.

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