PSP Projects bags orders worth Rs. 601.21 crore

PSP Projects has received work orders worth Rs 601.21 from multiple clients. The shares of the company have climbed over 3 per cent in the morning session.

The company will carry out the order for industrial, institutional, government and residential projects from various clients. A major chunk of order is received from Indian Institute of Management, Ahmedabad for Construction and Implementation Work of its Faculty Houses, Student Dormitories and Staff Houses New Academic Block, JSW School of Public Policy and Sports Complex for a contract value of Rs. 328 crore. The remaining orders have come in from other major clients like Cadila Healthcare, MRF, Gujarat Cancer Society, Torrent Pharmaceuticals, CEPT University etc.

PSP Projects is an Ahmedabad-based multi-disciplinary construction firm which provides its services ranging from planning and design for construction as well as post-construction activities.

The stock of PSP Projects on Tuesday opened at Rs. 462.60 per share against Monday’s close of Rs 443.75. At 14:19 hours, the shares were trading at Rs 458.85, gaining 3.40 per cent. The stock reached an intraday high of Rs. 469.95 and an intraday low of Rs. 454.00 per share on the BSE. The 52-week high stood at Rs. 596 and the 52-week low was Rs 358.70 per share on the BSE.

Meanwhile, Sensex was quoting 37,488.07 level, up by 1.17 per cent or 433.97 points.