The shares of one of the leading Realty construction and developers in India jumps 3 percent in the day’s trade after it receives multiple works orders thereby increasing its total order book value for FY 23-24 till date to Rs. 958.63 Crores.
At 11:40 a.m the shares of PSP Projects Limited were trading at Rs. 740.05 per share, up 2.70 percent from its previous day close price and its market capitalization is Rs. 2,667 Crores.
As per the company’s filing, PSP Projects Limited has secured multiple work orders and it is as follows
It has received a contract for Phase 3 construction of Chocolate Plant for a Multinational company in Sanand, Ahmedabad for a revised order value of Rs. 266.56 Crores which was earlier valued at Rs. 200 Crores and it is to be completed within a period of 19 months.
In addition to this, it has received a contract worth Rs. 57.33 Crores from Ozone Viswanath Developers for the Construction of Commercial Complex i.e. OVD_14 Commercial Tower in GIFT City, the project is to be completed within a period of 22 months.
It won a contract for the Development of Kalamkhus Campus worth Rs. 24.81 Crores in Ahmedabad for Ahmedabad Municipal Corporation and the project is to be completed within 18 months.
It has also emerged as Lowest Bidder for the Construction of Main Building for Gujarat Biotechnology Research Centre (GBRC) at Gandhinagar for a consideration of Rs. 101.67 Crores.
With receipt of above orders, the total order inflow of PSP Projects for the financial year 2023-24 till date amounts to Rs. 958.63 Crores.
The company’s revenue grew 10.85 percent from Rs. 1,748.06 Crores in FY22 to Rs. 1,937.81 Crores in FY23, accompanied by decreasing profits of Rs. 166.65 Crores to Rs. 131.94 Crores.
It has reported a return on equity (ROE) of 18.1 percent and a return on capital employed (ROCE) of 24.83 percent, it is making good returns on its equity and capital employed.
According to the latest shareholding data available for the September 2023 quarter, the company’s Promoters hold 66.22 percent stake, the Domestic Institutional Investors hold 5.36 percent and the Foreign Institutional Investors (FII) hold 4.23 percent.
PSP Projects operates in the domain of Realty and it offers a diversified range of construction and allied services across industrial, institutional, government, government residential, and residential projects in India.
Written by: Bharath K.S
