PSP Projects bags order worth Rs. 226 crore, stock surges

Ahmedabad-based building contractor PSP Projects has bagged work order worth Rs. 226.07 crore from various client for industrial and Institutional project. Till date in the ongoing fiscal year, the company has bagged total order worth Rs. 419.97 crore. 

As on June 30, 2018, the company holds a strong order book of Rs. 2,402 crore with 36 projects under execution. 

Besides, the company’s management is set to meet Analyst and Institutional Investors later during the day to discuss updates on the company's performance. 

With this positive development, the stock of PSP Project on Thursday’s trading session opened gap up at Rs. 499.9 apiece as against previous close of Rs. 481.2. At 10.02 hours the stock was trading at Rs. 495.9 apiece, up by almost 3 per cent from its previous close. 

PSP Projects (PSP) is a buildings contractor based out of Ahmedabad, Gujarat having interests in civil construction since 1985. The company is primarily engaged in civil construction of buildings in the Industrial, Institutional, Hospitals & Residential Housing and Commercial segments. Historically, the company has focused on opportunities in Gujarat.