PSP Projects gains on emerging lowest bidder for GIFT City project

PSP Projects rose 2.02% to Rs 515.25 after the company said it emerged as the lowest (L-1) bidder for construction of proposed GIDC Tech-Hub at GIFT City in Gujarat with bid value of Rs 307.53 crore.

The announcement was made on Saturday, 21 December 2019.

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.

On a consolidated basis, PSP Projects' reported 87.5% jump in net profit to Rs 32.52 crore on a 47.2% increase in net sales to Rs 312.11 crore in Q2 September 2019 over Q2 September 2018.

 

The share hit its 52-week high of Rs 617 on 28 June 2018 and its 52-week low of Rs 377.15 on 27 December 2018.

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