In a regulatory filing, PSP Projects said, “The company has emerged as lowest (L1) bidder in the project "Civil, MEP & Finishing work for Development of Street” for Gandhinagar Municipal Corporation at Gandhinagar, Gujarat worth Rs 158.61 crore.”

The total value of projects for which the firm stand as lowest bidder amounts to Rs 1,222.47 crore for the financial year 2023-24, which is in addition to the work orders received till date amounting to Rs 1,060.30 crore for the financial year 2023-24.

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 the country.

The company's consolidated net profit soared 78.7% to Rs 38.52 crore on 72.1% jump in net sales to Rs 619.65 crore in Q2 FY24 over Q2 FY23.

Shares of PSP Projects declined 1.23% to Rs 752.70 on the BSE.