Vikran Engineering Limited (VEL) announced that it has received two significant letters of award (LoA) from the Maharashtra State Electricity Distribution Company (MSEDCL), amounting to ₹530.80 crore. These contracts are aimed at enhancing distribution infrastructure in the Nashik and Kolhapur zones of Maharashtra, funded by the Asian Development Bank (ADB). The Nashik project is valued at ₹235.63 crore, while the Kolhapur project is worth ₹295.17 crore. The scope of work includes comprehensive engineering, procurement, and construction (EPC) services, covering the design, installation, and commissioning of new substations, transmission lines, and underground cabling. Both projects are expected to be completed within 21 months from the award dates. Rakesh Markhedkar, chairman and managing director of Vikran Engineering, emphasized that these awards validate the company's technical expertise and project management skills. In its latest financial results, Vikran Engineering reported a 37.9% decline in standalone net profit to ₹20.91 crore for the third quarter of FY26, despite a marginal increase in net sales to ₹266.46 crore compared to the previous year.