Vascon Engineers

In 1986, a civil engineering graduate from Pune, R. Vasudevan, started his own construction company, Vascon Engineers. The firm began its journey in the Engineering, Procurement, and Construction (EPC) sector. One of its first major projects was building a factory for Cipla Ltd., a relationship that continued for decades with two of Cipla's directors even becoming angel investors in Vascon. This foundation in EPC allowed the company to build a strong reputation for quality and timely project completion. Seeing an opportunity in a developing market, Vascon Engineers diversified into real estate development. This wasn't just about building for others anymore; it involved identifying and acquiring land to develop their own projects, from residential complexes and IT parks to shopping malls. This strategic shift allowed the company to capture more value in the construction lifecycle. A key innovation introduced by Vascon was a joint development model where landowners contributed their land as equity, reducing the capital required for expansion and mitigating risk. A significant milestone in the company's journey was its Initial Public Offering (IPO) in January 2010. The company went public, listing on both the BSE and NSE, to raise funds for the construction of new projects and for debt repayment. This event marked Vascon's transition from a privately held company to a publicly-traded entity, providing it with greater access to capital for future growth.