PSP Projects spurts on bagging orders worth Rs 555 cr

PSP Projects jumped 4.63% to Rs 705.70 after the company announced that it has received various new work orders worth Rs 554.92 crore.

The company has bagged an order for construction of Gold Stone Hotel and Commercial Towers at Bangalore, Karnataka. The value of this contract is Rs 389.29 crore. The projects have to be completed within a period of 22 months and 16 months, respectively.

Further, the company has received an order for the construction of residential towers in Ahmedabad, worth Rs 165.04 crore. The completion timeline for this project is 24 months.

"With these new contracts, the total order inflow for the financial year 2024-25 has reached Rs 1,444.91 crore to date," PSP Projects said in a statement.

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 compamy reported standalone net profit of Rs 34.25 crore in Q1 FY25, registering a de-growth of 6.77% as against with Rs 36.74 crore posted in Q1 FY24. Revenue from operations stood at Rs 611.89 crore in the quarter ended 30 June 2024, up 20.08% year on year basis.

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