© Reuters.
Shares of PSP Projects climbed 1.5% to ₹731.25 on the BSE Today, following the company’s announcement of winning several contracts. The firm’s orders for FY 2023-24 have reached a total of ₹958.63 crore.
The most significant contract is an expansion project for a multinational’s Phase III chocolate plant in Sanand, Ahmedabad. The revised contract value escalated from ₹200 crore to ₹266.56 crore, with the project set to be completed within 19 months.
In addition, PSP secured a deal with Ozone Viswanath Developers for the OVD_14 Commercial Tower in GIFT City, Ahmedabad. This contract is valued at ₹57.33 crore and is due within 22 months.
The company also won an order to develop Kalamkhus Campus for a local civic body in Ahmedabad. This project, worth ₹24.81 crore, is due within 18 months.
PSP was also the lowest bidder for a GBRC project in Gandhinagar, with a value of ₹101.67 crore (INR100 crore = approx. USD12 million).
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