Monday, April 22, 2024
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PSP Projects Secures Another Order

The company's order book reached Rs 4,443 crores as of December 31, 2023, and a new order has been received from GIFT City.

About the Order:

PSP Projects Limited, a leading player in the construction industry, has recently announced the acquisition of new work orders. The latest order entails the construction of the Fintech Building for Gujarat International Finance Tec-City Company Limited at GIFT City, Gandhinagar, valued at Rs 333.06 crores (excluding taxes) in the Government Category. The project is slated for completion within 36 months. 

PSP Projects stands as a crucial contributor to the development of critical infrastructure in Gujarat, with 87% of its projects as of 9MFY24 originating from the state. Additionally, PSP has expanded its presence to five other states: Rajasthan, Uttar Pradesh, Karnataka, New Delhi, and Maharashtra. With the addition of this latest order, the total order inflow for the financial year 2023-24 to date amounts to Rs 3,422.91 crores, including an additional scope of work worth Rs 77 crores from existing contracts. As of December 31, 2023, the company’s order book stands at Rs 4,443 crores. An interesting fact about PSP Projects is its completion of the Surat Diamond Bourse, the largest project in its portfolio valued at Rs 1,850 crores, covering a staggering 66 lakh square feet, making it the world’s largest office building on a single basement. 

Stock Performance:

In the latest trading session, the stock closed at Rs 666.75. Today, it opened at Rs 667.80 and closed at Rs 643.70, marking a decrease of 3.46%. The company’s 52-week high stands at Rs 846, while its 52-week low stands at Rs 637.75. Currently, the company boasts a market capitalization of approximately Rs 2,300 crores. 

About the Company:

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. They provide their services across the construction value chain, ranging from planning and design to construction and post-construction activities for private and public sector enterprises. Historically, they have focused on projects in the Gujarat region, but more recently, they have geographically diversified their portfolio of services and are undertaking or have bid for projects pan-India.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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