PSP Projects gains after winning orders

PSP Projects rose by 2.61% to 537.10 at 10:16 IST on the BSE after the company announced that it received work orders worth Rs 155.61 crore.

The announcement was made on Wednesday, 5 June 2019.

Meanwhile, the S&P BSE Sensex was down by 106.03 points, or 0.26% to 39,977.51.

On the BSE, 4104 shares were traded in the counter so far compared with average daily volumes of 5670 shares in the past two weeks. The stock had hit a low of Rs 524.85 so far during the day. It has hit a 52-week high today of Rs 548.70. It hit a 52-week low of Rs 358.70 on 31 October 2018.

PSP Projects announced that it has received new work orders worth Rs 155.61 crore during the financial year 2019-2020 (till date) for institutional, industrial and residential projects from various clients.

PSP Projects reported a 31.2% increase in the net profit to Rs 30.13 crore on 28.3% rise in the net sales to Rs 338.26 crore in Q4 March 2019 over Q4 March 2018.

PSP Projects is a multidisciplinary construction company offering a diversified range of construction and allied services across industrial, institutional, government, government residential and residential projects. The company provides services across the construction value chain, ranging from planning and design to construction and post-construction activities to private and public sector enterprises.

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