Hot Pursuit     31-Oct-23
PSP Projects gains after securing work orders worth Rs 200 crore
PSP Projects rose 2.72% to Rs 740.25 after the company said that it has received work orders worth Rs 200.25 crore from various clients.

The first contract is an addition to the scope of work for construction of chocolate plant (Phase III) for a multi-national company in Sanand, Ahmedabad with the revised order value worth Rs 266.56 crore from earlier Rs 200 crore in Institutional Category. The project is to be completed within a period of 19 months.

The second order involves construction of commercial complex viz. OVD_14 Commercial Tower in GIFT City, Ahmedabad, worth Rs 57.33 crore from Ozone Viswanath Developers in Institutional Category. The project is to be completed within a period of 22 months.

The third work order involves development of Kalamkhus Campus worth Rs 24.81 crore in Ahmedabad for Ahmedabad Municipal Corporation in Government category. The project is to be completed within 18 months.

The company has also bagged small value work orders totalling to Rs 42.92 crore.

"With receipt of above orders, the total order inflow for the financial year 2023-24 till date amounts to Rs 958.63 crore,” PSP Projects said in a statement.

The company further informed that it has also emerged as the lowest bidder (L-1 bidder) for the project "construction of main building” for Gujarat Biotechnology Research Centre (GBRC) at Gandhinagar worth Rs 101.67 crore.

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.

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