PSP Projects emerges as lowest bidder for a government residential project

At the end of Q1FY22, the company’s order book stood at Rs 3,852.21 crore.   

PSP Projects Limited is a multidisciplinary construction company offering a diversified range of construction & allied services across industrial, institutional, government, government residential as well as residential projects in India. It provides its services across the construction value chain, ranging from planning and design to construction and post-construction activities including MEP work and other interior fit-outs to private & public sector enterprises. Historically, it was more focussed on projects in Gujarat region. Most recently, it has actively expanded its geographical presence to other states and also, diversified its portfolio of services.  

The stock is up by 22 per cent on a YTD basis while on an MTD basis, it has gained over 5 per cent.   

In a recent press release, the company mentioned that it has emerged as the lowest bidder (L1 bidder) for a government residential project with a bid value of Rs 238.70 crore (excluding GST) in Uttar Pradesh.  

At the end of Q1FY22, the company’s order book stood at Rs 3,852.21 crore.   

Interestingly, one of the famous investors of D-Street namely, Sunil Singhania-owned Abakkus Emerging opportunities Fund-1 acquired 1.23 per cent stake in the company via open market transaction in the latter part of September.