Vascon Engineers Wins Rs 198 Crore SBI Order for Hinjewadi Campus in Pune

Vascon Engineers has a Rs 198 crore letter of acceptance from State Bank of India to build its learning and development institute, plus residential flats and commercial buildings, at Hinjewadi in Pune. The job has to be finished in 24 months. For Pune crane, pump and ready-mix suppliers, that is one campus site with work booked into late 2028.

What did Vascon win?

The company’s exchange filing, signed on the morning of 16 October, says it has received a letter of acceptance from SBI’s Maharashtra Circle for the Hinjewadi campus. It is a domestic order, the promoter group has no interest in the client, and it is not a related-party deal. EquityPandit and Dalal Street Investment Journal both carried the same value, client, scope and 24-month term. The filing does not give a floor count or built-up area. Basement depth and the start date are missing too.

This is Vascon’s third order disclosure since August, according to its own investor updates page: a 300-bed government hospital at Wardha in August, the Qualcomm office block in Bengaluru in September, and now SBI.

What it means for buyers

Spread over 24 months, Rs 198 crore works out to about Rs 8.3 crore of work a month before tax. The two building orders we covered recently ran faster once 18 percent GST is stripped out: about Rs 11.9 crore a month on Ahluwalia’s Bennett University blocks and about Rs 18.7 crore a month on Vascon’s own Qualcomm job. So this is a mid-paced site, not a rush job, and the machine list should be sized for that.

The concrete train runs the full term. A training institute with flats and commercial blocks on one campus points to tower cranes standing for most of the two years, concrete pumps, transit mixers and either a site batching plant or a long ready-mix contract. Those are owned or long-rented classes.

The earthwork is short and front-loaded: 20-tonne class excavators, backhoe loaders for trenching and services, tippers and compactors for the first few months. How long that phase runs depends on basements, which nobody has disclosed. Pune sits on hard basalt in many places, so if the design does include a basement, budget for a hydraulic breaker on the excavator rather than assuming soft digging.

Timing helps. A mid-October award puts the foundation stage into Pune’s dry months, well clear of the June to September monsoon.

Our take: this is a hire and long-rental opportunity rather than a reason to buy new earthmoving iron. Crane, pump and mixer owners in western Maharashtra have a two-year booking worth quoting for; excavator owners have a short window that depends on a basement nobody has confirmed.

FAQ

How much is the Vascon Engineers SBI order worth?

Rs 198 crore excluding taxes, according to the company’s 16 October 2026 exchange filing.

What will Vascon build for SBI in Hinjewadi?

The State Bank Institute of Learning and Development, residential flats and other commercial buildings, on an EPC basis, within 24 months.

What machines does a campus job like this use?

Mostly tower cranes, concrete pumps, transit mixers and a batching set-up for the whole term, plus excavators, backhoe loaders and tippers for the foundation stage at the start.

Related on DesiMachines: Vascon’s Rs 660.79 crore Qualcomm office order in Bengaluru

Source: Dalal Street Investment Journal