PSP Projects bags orders worth Rs 386 cr

The civil construction company has announced that it had received two work orders aggregating upto Rs 386.24 crore.

The first order entails construction and maintenance of Human and Biological Gallery at Science City, Ahmedabad for Gujarat Council of Science City worth Rs 268.11 crore in Government Category. The tenure for completion of project is 18 months.

The scope of subsequent order includes construction of commercial building ORYX at GIFT City, Gandhinagar worth Rs 118.13 crore in Institutional category. The tenure for completion of project is 24 months.

With receipt of the above orders, the total order inflow during the financial year 2023-24 till date amounted to Rs 3012.85 crore (this includes small value work orders totalling to Rs 23.33 crore).

Meanwhile, the company also informed that it has emerged as the lowest (L1) bidder for the construction of Fintech building at GIFT City for Gujrat International Finance at Gift City, Gandhinagar worth Rs 333.05 crore. The tenure for completion of project is 30 months.

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 in the country.

The company's consolidated net profit declined 12.10% to Rs 31.08 crore despite a 40.90% jump in revenue to Rs 704.75 crore in Q3 FY24 over Q3 FY23.

The scrip fell 1.74% to currently trade at Rs 698.90 on the BSE.

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