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PSP Projects firms up after receiving new orders

Capital Market 

PSP Projects rose 1.64% to Rs 531.55 at 12:38 IST on BSE after the company said it secured new work orders worth Rs 607.04 crore for institutional and residential projects from various clients.

With receipt of above, the total work orders received during the financial year 2019-20 (till date) on standalone basis amounts to Rs 762.65 crore. The announcement was made during market hours today, 20 June 2019.

Meanwhile, S&P BSE Sensex was up 203.16 points or 0.52% at 39,315.90.

On BSE, 690 shares were traded in PSP Projects counter, compared to a 2-week average of 2903 shares. The share price hit an intraday high of Rs 537 and an intraday low of Rs 520. It hit a 52-week high of Rs 549.35 on 10 June 2019 and a 52-week low of Rs 358.70 on 31 October 2018.

PSP Projects' net profit rose 31.2% to Rs 30.13 crore on a 28.3% rise in 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 in India.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, June 20 2019. 12:43 IST