PSP Projects Limited announced today that it has received work orders valued at ₹554.92 crore, excluding taxes. The shares were trading at ₹693.90, up by ₹20.50 or 3.04 per cent on the NSE today at noon.
The largest order, worth ₹389.29 crore, is for the construction of Gold Stone Hotel and Commercial Towers in Bangalore, Karnataka. This institutional project has completion timelines of 22 months and 16 months for its components. Additionally, PSP Projects secured a ₹165.04 crore contract for residential towers in Ahmedabad, to be completed within 24 months.
With these new contracts, PSP Projects’ total order inflow for the 2024-25 financial year has reached ₹1,444.91 crore to date. The company confirmed that all orders are from domestic entities and will be executed within India. PSP Projects also stated that the contracts do not involve any related party transactions or interests from promoters or group companies.
These developments mark a significant boost to PSP Projects’ order book, potentially impacting its future revenue and growth prospects in the construction sector.