Realty stock engaged in offering a diversified range of construction and allied services in talk after it emerged as the lowest bidder for a government project worth Rs. 158.61 Crores
At 12:35 p.m. the shares of PSP Projects Limited were trading at Rs. 750, down 1.70 percent from its previous day’s close price of Rs. 762.25 and its market capitalization is Rs. 2,710 Crores.
PSP Projects Limited has emerged as the lowest bidder for the Development of a Street for the Gandhinagar Municipal Corporation at Gandhinagar, Gujarat and the project is worth Rs. 158.61 Crores.
With the receipt of the above, the total value of projects as Lowest Bidder Rs. 1222.47 Crores for the financial year 2023-24, which is in addition to the work orders received to date amounting to Rs. 1060.30 Crores for the financial year 2023-24.
As of Q2FY23, It has a strong order book worth Rs. 4,898 Crores. Its sectoral breakup is as follows, 48 percent government projects, 29 percent institutional projects, 10 percent industrial projects, 9 percent residential projects, and 4 percent government residential projects.
The company’s revenue from operations grew 10.17 percent from Rs. 1,749 Crores in FY22 to Rs. 1,927 Crores in FY23, accompanied by profits of Rs. 162 Crores to Rs. 133 Crores.
It has reported a return on equity (ROE) of 24.8 percent and a return on capital employed (ROCE) of 18.1 percent, it is making good returns on its equity and capital employed.
PSP Projects operates in the domain of Realty offering a diversified range of construction and allied services across industrial, institutional, government, government residential, and residential projects in India.
Written by: Bharath K.S
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
