PSP Projects soars on receiving work orders worth Rs 935.41 crore
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PSP Projects is currently trading at Rs. 799.85, up by 22.20 points or 2.85% from its previous closing of Rs. 777.65 on the BSE.
The scrip opened at Rs. 809.95 and has touched a high and low of Rs. 809.95 and Rs. 787.00 respectively. So far 4111 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 846.00 on 23-Aug-2023 and a 52 week low of Rs. 652.15 on 16-Mar-2023.
Last one week high and low of the scrip stood at Rs. 809.95 and Rs. 761.05 respectively. The current market cap of the company is Rs. 2840.22 crore.
The promoters holding in the company stood at 66.22%, while Institutions and Non-Institutions held 8.31% and 25.47% respectively.
PSP Projects has received three new work orders worth Rs 935.41 crore (excluding taxes). The first order is for River Edge Development of Dharoi Dam region as a World Class Sustainable Tourist/Pilgrimage Destination (Package – 2) at Dharoi, Gujarat, for Narmada, Water Resources, Water Supply & Kalpsar Department worth Rs 357.07 crore (excluding Tax) in Government Category. The project is to be completed within a period of 24 months.
The second order is for Civil, MEP & Finishing work for Development of Street at Gandhinagar worth Rs 155.62 crore (excluding Tax) from Gandhinagar Municipal Corporation in Government Category. The project is to be completed within a period of 15 months. The third order is for Development of Sabarmati Riverfront worth Rs 399.38 crore (excluding Tax) in Ahmedabad for Sabarmati Riverfront Development Corporation in Government Category. The project is to be completed within 30 months. With receipt of the said orders, the total order inflow during the financial year 2023-24 till date amounts to Rs 1995.70 crore (This includes small value work orders totalling to Rs 23.33 crore).
PSP Projects, the Ahmedabad-based firm is a multi-disciplinary construction firm and provides its services ranging from planning and design to construction and post-construction activities.
