The project is via a redevelopment initiative on Linking Road in Santacruz (West), Mumbai. It has a total expected gross development value (GDV) of ₹300 crore of its sell units.
“Vascon Orchids is set to be a landmark project, not only marking our strong entry into Mumbai but also contributing meaningfully to its ever-evolving skyline,” Siddharth Vasudevan Moorthy, the company’s managing director, said.
The project will comprise three wings, featuring 2 and 3 BHK homes, offering a 62 sell units. Residents will also have access to rooftop and ground-level amenities, including Bocce Ball, Cornhole, a fully-equipped gymnasium, and more, the company said in an exchange filing.
Vascon Orchids is also located near the upcoming metro station on SV Road and the Coastal Road Connector is set to land less than 500 metre away, it added.
The company said it has delivered over 225 projects across 30 cities and over 45 million square feet real estate projects in the 39 years of its existence.
Vascon Engineers shares were down 2.05% at ₹35.86 apiece at 12 pm on Monday, March 10. The stock has declined 35.71% this year, so far.
Also Read: Can this Navratna PSU announce a mega order to meet its FY25 guidance?
