MoRTH has announced a ₹764 crore tender for constructing bridges over Dibang and Lohit River systems and approach roads in Arunachal Pradesh, executed through DBFOT annuity.
PSP Projects, a prominent construction firm based in Gujarat, has recently secured a series of significant contracts totaling ₹1,764.12 crore. These projects encompass various sectors, including institutional and residential developments, primarily located in Ahmedabad.
Detailed Breakdown of the Secured Projects:
- City-Side Development at Ahmedabad Airport:
- Client: Adani Airport Holdings
- Value: ₹647.22 crore (excluding GST)
- Scope: This project involves the development of the city-side infrastructure at Ahmedabad Airport.
- Timeline: Scheduled for completion within 18 months.
- Construction of Adani Medicity & Research Center:
- Client: Vitthal Mandir
- Value: ₹411.72 crore (excluding GST)
- Scope: Development of a comprehensive medical city and research center in Ahmedabad.
- Timeline: To be completed within 24 months.
- Residential Project at Shantigram, Ahmedabad:
- Client: Adani Realty
- Value: ₹139.93 crore (excluding GST)
- Scope: Construction of residential units in the Shantigram locality.
- Timeline: Expected to be finalized within 22 months.
- Design and Construction of Leadership Guest House at Shantigram:
- Client: Adani Enterprises
- Value: ₹147.47 crore (excluding GST)
- Scope: Building a leadership guest house facility.
- Timeline: Completion targeted within 18 months.
- Airside and Landside Development Work at Ahmedabad Airport:
- Client: Ahmedabad International Airport
- Value: ₹223.47 crore (excluding GST)
- Scope: Enhancement of both airside and landside areas of the airport.
- Timeline: To be accomplished within 12 months.
- Design and Construction of Training Centre at Shantigram:
- Client: Adani Enterprises
- Value: ₹61.07 crore (excluding GST)
- Scope: Establishment of a training center facility.
- Timeline: Set for completion within 18 months.
- Development of Vishram Gruh at Asarva Civil Hospital Campus:
- Client: Sevadaan Arogya Foundation
- Value: ₹51.00 crore (excluding GST)
- Scope: Construction of a rest house within the hospital campus.
- Timeline: To be completed within 20 months.
With the acquisition of these projects, PSP Projects’ total order inflow for the financial year 2024-25 has reached ₹3,478.58 crore. Additionally, the company has emerged as the lowest bidder (L1) for a street development project in Ahmedabad, valued at ₹120.53 crore (excluding GST).
Company Overview:
Established in 2008 with an initial capital of just ₹2 lakh, PSP Projects has experienced remarkable growth over the years. The company has diversified its portfolio across industrial, institutional, government, and residential projects. Notably, it has been involved in prestigious developments such as the Surat Diamond Bourse.
As of September 30, 2024, PSP Projects reported an order book of ₹6,546 crore, indicating a strong pipeline of ongoing and upcoming projects.
Recent Developments:
In November 2024, Adani Infra announced its intention to acquire a 30.07% stake in PSP Projects for ₹6.85 billion (approximately $81.2 million). This strategic investment underscores Adani Group’s confidence in PSP Projects’ capabilities and its commitment to strengthening its presence in the construction sector.
Financial Performance:
For the financial year 2023-24, PSP Projects reported revenues of ₹2,462 crore, marking a 28% increase from the previous year. The company’s EBITDA grew by 16% to ₹261 crore, with an EBITDA margin of 10.62%. This growth trajectory reflects the company’s robust operational performance and its ability to secure and execute large-scale projects effectively.
PSP Projects’ recent procurement of contracts worth ₹1,764.12 crore reinforces its position as a leading player in the construction industry. The company’s diversified project portfolio, strategic partnerships, and consistent financial growth highlight its resilience and adaptability in a competitive market. As PSP Projects continues to expand its footprint, it remains well-positioned to capitalize on emerging opportunities in the infrastructure and construction sectors.
Group Media Publication
Construction, Infrastructure and Mining
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