India's Vascon Wins INR 1.98 Billion Order for Bank Training Campus Construction

en.Wedoany.com Reported - On October 16, India's Vascon Engineers received a letter of acceptance from State Bank of India for a construction contract worth INR 1.98 billion, excluding taxes. The project is located in the Hinjewadi area of Pune, Maharashtra, and covers a bank learning and development training center, residential apartments, and commercial supporting buildings. It will be delivered under an engineering, procurement, and construction (EPC) model, with completion required within 24 months.

The Premises and Estate Department under State Bank of India's Maharashtra Circle is responsible for procuring this work. The bank's previously published project documents for the related construction work identified the site as Plot R-3/3/C in Phase III of Rajiv Gandhi Infotech Park, Hinjewadi, where residential and commercial composite buildings are planned. The plot is located within the MIDC industrial development zone.

On August 14, 2025, State Bank of India launched procurement for project management consultancy services for the residential and commercial building project on the same plot, with bids originally scheduled to close on September 4. The tender documents at that time listed an estimated project cost of approximately INR 1.08 billion and required the project management consultant to undertake construction planning, design coordination, construction supervision, and project implementation management. The documents specified a project duration of 24 months from the date the EPC contractor receives the work order.

The earlier project management consultancy procurement documents listed specialized work covering building structures, interior finishing, landscaping, high- and low-voltage electrical systems, water supply and drainage, air conditioning, elevators, standby generators, uninterruptible power supplies, and intelligent building management systems. The intelligent management systems involve video surveillance, public address, and fire safety facilities. The documents also set out specialized management requirements for building support systems including parking, rainwater harvesting, sewage treatment, and wastewater reuse.

The letter of acceptance received by Vascon Engineers for this work was disclosed by the company to the Indian stock exchanges on October 16. The tendered project involves three building functions—training, residential, and commercial—and the contractor will be responsible for implementing the related construction work under the EPC contract arrangement.