Vascon Engineers has secured a Rs. 1.98 bn construction contract from State Bank of India (SBI) for a project in Hinjewadi, Pune, Maharashtra. The order was awarded by SBI’s Premises and Estate Department, Maharashtra Circle, Pune, according to the company’s disclosure.

The project includes construction of SBILD, residential flats and other commercial facilities. Vascon Engineers will execute the work on an engineering, procurement and construction (EPC) basis, under which the contractor is responsible for delivering the project in line with the agreed design and construction requirements.

The company is required to complete the project within 24 months. The announcement adds to Vascon Engineers’ order activity across construction segments, with the company undertaking projects for public and private sector clients in India.

Established in 1986, Vascon Engineers operates across residential, commercial, industrial, healthcare, education and institutional infrastructure. Its activities include construction, EPC services and real estate development. The company has undertaken projects across India and serves clients from both the public and private sectors.

Shares of Vascon Engineers have risen 3.31 per cent over the past month, according to the report. However, the stock has declined 6.38 per cent over the past three months and 21.37 per cent over the past six months. On a year-to-date basis, Vascon Engineers shares have fallen 33.45 per cent.

The Pune contract comes as construction companies continue to secure institutional and infrastructure orders from government-linked entities and other large organisations. For Vascon Engineers, the SBI project provides a defined execution pipeline over the next two years, subject to progress under the contract. The company’s broader portfolio spans building construction, infrastructure-related facilities and real estate development.