Infra stock offering a diversified range of construction and allied services across industrial, institutional, government projects, and many more jumped 4 percent in the day’s trade upon receiving a work order worth Rs. 630 Crores.
With a market capitalization of Rs. 2,652 Crores, the shares of PSP Projects Limited were trading at Rs. 736.40, up 2.96 percent from its previous day’s close price of Rs. 715.25.
PSP Projects Limited has received a new work order worth Rs. 630.90 Crores for the Construction of Gati Shakti Vishwavidhyalaya at Vadodara for Rail Vikas Nigam Limited and the project is to be completed within 30 months.
With the receipt of the above order the total order inflow of PSP Projects Limited during the financial year 2023-24 to date amounts to Rs. 2626.61 Crores.
Gati Shakti Vishwavidyalaya (GSV), a newly created Central University, is India’s first University in the Transportation and Logistics sectors. The University offers a unique value proposition in applied education, training, skilling, and research through experiential learning and academia-industry interface to build top-quality manpower.
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.
As of Q3FY23, It has a strong order book worth Rs. 4,443 Crores. Its sectoral breakup is as follows, 47 percent government projects, 30 percent institutional projects,10 percent residential projects,9 percent industrial projects, and 4 percent government residential projects.
Some of the prominent projects completed by the company are the development of Kashi Vishwanath Dham, Surat Diamond Bourse, Zydus Hospital, and Smart Buildings in Gift City.
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.
Written by: Bharath K.S
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