PSP Projects bags orders of Rs. 372 crore

The Gujarat-based construction company has won new institutional and industrial projects totalling Rs. 372.47 crore.

The projects consist of work order for construction of hospital building worth Rs. 67.88 crore from from Tornascent Care Institute and construction of student center at Ahmedabad University for Rs. 51.50 crore. The new orders also include two projects of Rs. 208.49 crores, wherein the company has been declared as the Lowest Bidder by the regulatory authority.

PSP Projects' total work orders on standalone basis stood at Rs. 804.62 crore, till date in FY2018-19. While as on September 30, the company's order book stood at Rs. 2,576 crore, which are to be executed in the next 24 to 30 months.

For the recently concluded quarter Q2FY19, the company posted revenue from operations at Rs. 209.95 crore, as against Rs. 139.55 crore in Q2FY18, which is a growth of 50 per cent YoY. While EBITDA was at Rs. 29.38 crore, as against Rs. 18.64 crore, up 58 per cent YoY. The company's PAT for Q2FY19 at Rs. 17.86 crore, as against Rs. 12.67 crore in Q2FY18, up 41 per cent YoY.

Meanwhile on Monday, the stock of PSP Projects closed at Rs. 395.00 per share, up 0.66 per cent from its previous closing, on a day when the BSE Sensex was up by 317.72 point or 0.90 per cent at at 35,774.88.