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PSP Projects sets a record as the winning bidder for a government project.

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PSP Projects sets a record as the winning bidder for a government project.

We are excited to announce that PSP Projects has been awarded the contract for a government project. This is a huge win for our company and we are proud to be able to provide our services to the government. We would like to thank all of our employees who worked so hard to make this happen.

PSP Projects shares rallied 5 per cent to hit a record high of Rs 747.40 in Tuesday’s intra-day trade. Company emerged as lowest bidder for a government project worth Rs 1,364. 5 crore (excluding GST) of construction of state of the art high rise office building at Surat, Gujarat.

PSP Projects’ order book as on September 30, 2022, was healthy at Rs 5,081 crore (2.9x book to TTM revenues). The company secured orders worth around Rs 2,045 crore post Q2FY23. Overall, the total order inflow amounts to Rs 3,310 crore in FY23.

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PSP Projects shares have risen 18 per cent in the past one month, against a 3 per cent decline in the S&P BSE Sensex. The company is expected to witness a strong growth trajectory ahead, according to analysts at Edelweiss Securities.

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