Vascon Engineers Limited (ISIN: INE893I01013) has reported a robust performance for the second quarter of fiscal year 2026, demonstrating resilience in the face of challenging weather conditions. The company has also made a significant strategic move by signing a Memorandum of Understanding (MOU) with Adani Limited.

Financial Highlights

Vascon Engineers achieved a consolidated income of INR 229.00 crores in Q2 FY26, marking a 14% year-on-year growth. The company's profit after tax stood at INR 11.00 crores, showcasing its ability to maintain profitability despite execution delays caused by adverse weather conditions.

For a clearer picture of the company's financial performance, here's a breakdown of the key figures:

Strategic Partnership with Adani Limited

In a significant development, Vascon Engineers has signed a strategic MOU with Adani Limited for early engagement on projects. The key points of this partnership include:

• A 5-year agreement for early engagement on projects
• Total project area of approximately 13 million square feet in Mumbai
• Expected to contribute 30% of Vascon's annual turnover

This collaboration is anticipated to enhance Vascon's business pipeline and strengthen its position in large-scale infrastructure and real estate projects.

Operational Update

The company faced some challenges due to weather-related execution delays. However, management expects improved execution and revenue momentum as weather conditions normalize. The resumption of uninterrupted work is likely to strengthen progress in the coming quarters.

Order Book and Future Outlook

As of September 30, 2025, Vascon Engineers' order book stands at INR 2,800.00 crores, which is 2.8 times its FY25 EPC revenue. This robust order book provides strong visibility for the next 2 to 3 years. The company is targeting an annual growth of 20% in EPC revenue and profit, supported by improved execution efficiency and a wider project pipeline.

Management Commentary

Dr. Santosh Sundararajan, Group Chief Executive Officer of Vascon Engineers, commented on the results and future prospects: "Our Q2 FY '26 performance remained steady despite heavy and prolonged monsoons that hampered on-ground operations. With weather conditions now normalizing, site activity has begun to pick up across key projects. We are confident about achieving our target of INR 1,200.00 crores revenue in the EPC segment for FY26, representing a 20% year-on-year growth."

Vascon Engineers' strong financial performance, robust EPC order book, and strategic partnerships position the company well for sustained growth in the coming years. Investors and market watchers will be keen to see how the company capitalizes on its opportunities and navigates potential challenges in the dynamic construction and real estate sectors.

Vascon Engineers , a leading player in the EPC and real estate sectors, has announced its unaudited financial results for the second quarter and first half of fiscal year 2026, showcasing impressive growth and operational performance.

Financial Highlights

The company reported a consistent 13% revenue growth in both Q2 and H1 FY26. Here's a breakdown of the key financial metrics:

Operational Performance

EPC Segment

• H1 FY26 Revenue: ₹431 crore
• Gross Profit Margin: 13%
• Order Book: ₹2,800 crore (2.8 times FY25 EPC revenues)
• Government Projects: 74% of the order book
• New Orders in H1 FY26: ₹386 crore

Real Estate Segment

• New Sales Bookings: 64,541 square feet
• Total Sales Value: ₹74 crore
• Collections: ₹88 crore

Strategic Developments

1. Project Launches:

   • Tulip Phase 3 in Coimbatore
   • Tower of Ascend in Kharadi
   • Orchids in Santacruz

2. Upcoming Pipeline: Projects in Santacruz Powai Mumbai and Baner-Pashan Pune with an expected sales value exceeding ₹1,100 crore.

3. Strategic Partnership: MOU with Adani for a 13.35 million sqft contribution part.

4. Financial Milestone: Release of pledged promoter shares from SBI.

Management Commentary

Mr. Siddharth Vasudevan Moorthy, Managing Director of Vascon Engineers, expressed satisfaction with the company's performance, stating, "I am happy to report consistent operational performance for Q2 FY26, with steady revenue growth and healthy profitability margins. Our EPC segment continues to be the primary growth engine, with strong execution capabilities and improved operational efficiency."

He further added, "As we look ahead, we remain confident in the long-term prospects of both our business segments. Our strategic focus on Mumbai and Pune markets, combined with our dual expertise in EPC and real estate development, positions us well for sustained growth."

Industry Outlook

The residential real estate sector is experiencing favorable conditions driven by:

• Rising disposable incomes
• Stable interest rates
• Robust economic momentum
• Policy reforms encouraging home buying

Vascon Engineers, with its strong presence in both EPC and real estate segments, appears well-positioned to capitalize on these market trends.

About Vascon Engineers

Vascon Engineers, a 'Fortune Next 500' company headquartered in Pune, boasts over 39 years of experience in the construction and real estate industry. The company has successfully delivered more than 225 projects, covering over 45 million sq. ft. of developments across various sectors including residential, industrial, IT parks, malls, multiplexes, hospitality, and community welfare centers. Operating in more than 30 cities across India, Vascon Engineers maintains a focused business approach on EPC and the premium Housing segment.