Latest news with #VasconEngineers
&w=3840&q=100)
Business Standard
11 hours ago
- Business
- Business Standard
Non-Mumbai builders tap into financial capital via redevelopment projects
Real estate developers based outside of Mumbai such as Delhi-based DLF, Bengaluru-based Prestige Estates, Puravankara, Pune-based Blackstone-backed Kolte-Patil Developers, Vascon Engineers, and Hyderabad-based Ramky Estates, are foraying into India's largest real estate market through redevelopment projects. While Mumbai has always been India's prime real estate market, policy-level incentives for redevelopments, less capital intensive nature of redevelopment business amid a lack of open land parcels, is attracting developers that are using asset-light strategies to get better realisations from high property rates. 'For developers based outside the MMR, redevelopment offers an effective route to enter the Mumbai market, given the limited availability of greenfield land. Additional attractive factors include higher FSI allowances in slum rehabilitation and society redevelopment projects, which translate to better returns on investment,' said Siddharth Vasudevan, MD, Vascon Engineers. Mumbai's redevelopment market is big enough to accomodate more players like Bengaluru-based Sobha and Ahmedabad-based Arvind Smartspaces are evaluating opportunities. According to Credai-MCHI, over 25,000 buildings across MMR are eligible for redevelopment, with the total estimated project value exceeding Rs 30,000 crore. As per Anarock, as of 2024, average property prices in MMR stood at Rs 16,600 per sq ft, while those in Bengaluru and Hyderabad stood at Rs 8,380 per sq ft and Rs 7,300 per sq ft, respectively. The prices in NCR stood at Rs 7,550 per sq ft. Vijay Agrawal, MD- investment banking, Equirus said that the average margins in real estate are around 25-30 per cent but the Mumbai market is known for higher realisation per square foot, between Rs 25,000 and Rs 1 lakh. 'In other cities, general realisation is between Rs 5,000-12,000, except in a few micro markets. Higher realisations help developers disclose higher revenue with a smaller sales area. This helps in improving their blended per sq ft realisations.' In Mumbai, a developer can book revenue of Rs 500 crore for 1 lakh sq ft of a project with a sale price of Rs 50,000 per sq ft for one project. However, in other markets, a developer will need to sell 5 lakh sq ft of area at Rs 10,000 per sq ft to achieve the same revenue, Agrawal explained. 'Listed companies can meet their topline growth targets by executing projects in this market," Sanjay Daga, CEO and MD, Anex Advisory, said. But the bright opportunity has its challenges. Redevelopment for non-Mumbai developers involves multiple stakeholders, so having a reliable team in a new market in a must. Dealing with local tenants besides higher cost of approvals, construction in smaller area of sites compared to the other cities, are other issues to name a few. 'Developers fail to underwrite the working capital requirement in Mumbai projects. A typical project in other cities is between 5 to 15 acres, while Mumbai's typical project is 0.5 to 3 acres. Construction costs in Mumbai are very steep,' said an industry expert who didn't wish to be named. To overcome these hindrances, developers are forging joint ventures with local developers who already have the land or permissions, and industry experts who hold the ability to deal with the local administration and tenants more effectively. This helps in securing faster approvals and faster project launches. DLF, for its first Mumbai project, has tied up with Trident Realty, a local real estate firm. Prestige, for its mega redevelopment project in Bandra, has joined hands with Mumbai-based Valor Estate and RC Group. Despite strong balance sheets and deep expertise, building trust among buyers will take time. 'Local developers, due to their deep-rooted presence and familiarity with these intricacies, often have an edge,' Shrinivas Rao, CEO, Vestian.
Mint
22-05-2025
- Business
- Mint
Stocks to buy under ₹100: Experts recommend six shares to buy today — 22 May 2025
Stocks to buy under ₹ 100: After a strong start, the Indian stock market indices extended their early morning gains but soon came under sell-off pressure at higher levels in the second half of Wednesday. However, the key benchmark indices managed to end higher despite losing most of their morning gains. The Nifty 50 index finished 129 points higher at 24,813. The BSE Sensex gained 410 points and closed at 81,596. The Bank Nifty index added 197 points and regained the 55,000 peak. All the sectors ended the day in green, with realty and pharma top performers. The broader market had a mixed performance, as Midcaps slightly outperformed, whereas Smallcaps underperformed the key benchmark indices. On the Indian stock market's outlook today, Siddhartha Khemka, Head of Research—Wealth Management at Motilal Oswal, said, "We expect markets to remain firm, supported by healthy domestic macros, decent corporate earnings, and prospects of an above-normal monsoon this year. Institutional buying in broader markets should provide further support." Speaking on the outlook of the Nifty 50 today, Shiju Kuthupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, said, "The Nifty 50 index with the overall trend maintained positive witnessed a recovery amid the volatile session from near the 24700 zone to end on a positive note near the 24800 level with anticipation of retesting the 25000 zone in the coming session. The overall bias is maintained strong with the index indicating an ascending channel pattern on the daily chart with crucial support positioned near 24500, while on the upper side, a decisive breach above the 25000 zone shall trigger a fresh upward move in the coming days." "The Bank Nifty index continues to move within the tight range of 55700 and 54500 zones, close to the 55000 level, with the overall trend maintained positive. As mentioned earlier, we maintain our stance of the crucial support positioned near the 54000 level, which needs to be sustained. At the same time, a decisive breach above the 55800 zone shall trigger a breakout, and thereafter, we expect a fresh rise in the coming days," Shiju Kuthupalakkal said. Regarding stocks to buy today, market experts — Sumeet Bagadia, Executive Director at Choice Broking; Mahesh M Ojha, AVP — Research at Hensex Securities; Sugandha Sachdeva, Founder of SS WealthStreet; and Anshul Jain, Head of Research at Lakshmishree Investment and Securities — recommended these six intraday stocks for today: Morepen Laboratories, IOL Chemicals and Pharmaceuticals, Vascon Engineers, IDBI Bank, Trident, and Spencer's Retail. 1] Morepen Laboratories: Buy at ₹ 65.94, Target ₹ 70.55, Stop Loss ₹ 63.63; and 2] IOL Chemicals and Pharmaceuticals: Buy at ₹ 86.27, Target ₹ 92.30, Stop Loss ₹ 83.25. 3] Vascon Engineers: Buy at ₹ 48 to ₹ 49.25, Targets ₹ 51, ₹ 53, ₹ 55, Stop Loss ₹ 46.40; and 4] IDBI Bank: Buy at ₹ 93 to ₹ 94.50, Targets ₹ 96, ₹ 98, ₹ 100, ₹ 103, Stop Loss ₹ 90.80. 5] Trident: Buy on dips at ₹ 31.20, Target ₹ 35.50, Stop Loss ₹ 28.90. 6] Spencer's Retail: Buy at ₹ 66, Target ₹ 70, Stop Loss ₹ 63.
Mint
22-05-2025
- Business
- Mint
Stocks to buy under ₹100: Experts recommend six shares to buy today — 22 May 2025
Stocks to buy under ₹ 100: After a strong start, the Indian stock market indices extended their early morning gains but soon came under sell-off pressure at higher levels in the second half of Wednesday. However, the key benchmark indices managed to end higher despite losing most of their morning gains. The Nifty 50 index finished 129 points higher at 24,813. The BSE Sensex gained 410 points and closed at 81,596. The Bank Nifty index added 197 points and regained the 55,000 peak. All the sectors ended the day in green, with realty and pharma top performers. The broader market had a mixed performance, as Midcaps slightly outperformed, whereas Smallcaps underperformed the key benchmark indices. On the Indian stock market's outlook today, Siddhartha Khemka, Head of Research—Wealth Management at Motilal Oswal, said, "We expect markets to remain firm, supported by healthy domestic macros, decent corporate earnings, and prospects of an above-normal monsoon this year. Institutional buying in broader markets should provide further support." Speaking on the outlook of the Nifty 50 today, Shiju Kuthupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, said, "The Nifty 50 index with the overall trend maintained positive witnessed a recovery amid the volatile session from near the 24700 zone to end on a positive note near the 24800 level with anticipation of retesting the 25000 zone in the coming session. The overall bias is maintained strong with the index indicating an ascending channel pattern on the daily chart with crucial support positioned near 24500, while on the upper side, a decisive breach above the 25000 zone shall trigger a fresh upward move in the coming days." "The Bank Nifty index continues to move within the tight range of 55700 and 54500 zones, close to the 55000 level, with the overall trend maintained positive. As mentioned earlier, we maintain our stance of the crucial support positioned near the 54000 level, which needs to be sustained. At the same time, a decisive breach above the 55800 zone shall trigger a breakout, and thereafter, we expect a fresh rise in the coming days," Shiju Kuthupalakkal said. Regarding stocks to buy today, market experts — Sumeet Bagadia, Executive Director at Choice Broking; Mahesh M Ojha, AVP — Research at Hensex Securities; Sugandha Sachdeva, Founder of SS WealthStreet; and Anshul Jain, Head of Research at Lakshmishree Investment and Securities — recommended these six intraday stocks for today: Morepen Laboratories, IOL Chemicals and Pharmaceuticals, Vascon Engineers, IDBI Bank, Trident, and Spencer's Retail. 1] Morepen Laboratories: Buy at ₹ 65.94, Target ₹ 70.55, Stop Loss ₹ 63.63; and 2] IOL Chemicals and Pharmaceuticals: Buy at ₹ 86.27, Target ₹ 92.30, Stop Loss ₹ 83.25. 3] Vascon Engineers: Buy at ₹ 48 to ₹ 49.25, Targets ₹ 51, ₹ 53, ₹ 55, Stop Loss ₹ 46.40; and 4] IDBI Bank: Buy at ₹ 93 to ₹ 94.50, Targets ₹ 96, ₹ 98, ₹ 100, ₹ 103, Stop Loss ₹ 90.80. 5] Trident: Buy on dips at ₹ 31.20, Target ₹ 35.50, Stop Loss ₹ 28.90. 6] Spencer's Retail: Buy at ₹ 66, Target ₹ 70, Stop Loss ₹ 63. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
&w=3840&q=100)
Business Standard
15-05-2025
- Business
- Business Standard
This Pune-based construction company's share price zoomed 17% in trade
Vascon Engineers share price zoomed 17.4 per cent in trade on Thursday, recording a day's high at ₹52.54 per share on BSE. The stock was in demand a day after the company released its Q4 results. At 10:04 AM, Vascon Engineers shares pared some gains and were up 13.91 per cent at ₹51.01 per share on the BSE. In comparison, the BSE Sensex was down 0.48 per cent at 80,942.85. The market capitalisation of the company stood at ₹1,154.29 crore. The 52-week high of the stock was at ₹83.75 per share and the 52-week low of the stock was at ₹32 per share. In the past one year, Vascon Engineers shares have lost 37 per cent as against Sensex's rise of 11 per cent. Vascon Engineers Q4 results After market hours on Wednesday, the smallcap civil construction company posted its fourth quarter (Q4FY25) numbers. The company's consolidated net profit stood at ₹34.45 crore as compared to ₹14.81 crore which translated to a jump of 133 per cent year-on-year (Y-o-Y). Its revenue from operation increased 64 per cent to ₹385 crore as compared to ₹235 crore a year ago. Vascon Engineers management commentary The company remains confident in the long-term prospects of the real estate sector in long-term. In FY25, Mumbai aligns seamlessly with The company's vision of delivering premium, high-quality living spaces tailored for modern urban lifestyles. Backed by expertise in Engineering, Procurement, and Construction (EPC) and real estate development, a customer-first approach, and unwavering commitment to excellence, the company is poised to redefine luxury living. About Vascon Engineers Vascon Engineers, headquartered in Pune has over 39 years of experience, the company has successfully delivered over 225 projects, encompassing more than 45 million sq. ft. of landmark developments in residential, industrial, IT parks, malls, multiplexes, hospitality, and community welfare centers. Operating in over 30 cities across India, Vascon Engineers has left an indelible mark in both EPC and Real Estate projects. The company's vision is to maintain a focused business approach on EPC and the premium Housing segment.
Business Standard
15-05-2025
- Business
- Business Standard
Vascon Engineers consolidated net profit rises 106.72% in the March 2025 quarter
Sales rise 65.76% to Rs 387.08 crore Net profit of Vascon Engineers rose 106.72% to Rs 34.77 crore in the quarter ended March 2025 as against Rs 16.82 crore during the previous quarter ended March 2024. Sales rose 65.76% to Rs 387.08 crore in the quarter ended March 2025 as against Rs 233.52 crore during the previous quarter ended March 2024. For the full year,net profit rose 91.71% to Rs 130.25 crore in the year ended March 2025 as against Rs 67.94 crore during the previous year ended March 2024. Sales rose 44.12% to Rs 1077.90 crore in the year ended March 2025 as against Rs 747.90 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 387.08233.52 66 1077.90747.90 44 OPM % 9.698.56 - 8.118.02 - PBDT 37.3122.52 66 81.0273.89 10 PBT 35.7421.02 70 75.1367.93 11 NP 34.7716.82 107 130.2567.94 92
